Mainstreet Capital
Within the Main Street Fund, we are dedicated to empowering underrepresented founders, unique entrepreneurs and driven innovators. Through strategic investment, hands-on mentorship, and robust ecosystem development, we help entrepreneurs overcome unique challenges and achieve lasting success.
We actively cultivate a vibrant entrepreneurship ecosystem by partnering with local incubators, accelerators, and business support organizations across Michigan. This network is designed to connect underrepresented founders, unique entrepreneurs and driven innovators, with the resources they need to grow and succeed.
At Kalamazoo Forward Ventures, we believe in the transformative power of investing in underrepresented founders, unique entrepreneurs and driven innovators. Here’s why:
1. Driving Economic Growth in the Kalamazoo Area:
Minority-owned businesses play a crucial role in our economy. A report by McKinsey estimates that closing the racial wealth gap could add $1.5 trillion to U.S. GDP by 2028.
These businesses have the potential to generate significant revenue and create jobs, particularly in underserved neighborhoods.
2. Closing the Wealth Gap:
The racial wealth gap is a critical issue in the Kalamazoo area, as it is across the nation. Minority communities in our area, especially Black and Latinx populations, face substantial economic disparities.
The median net worth of white households is about 8 times higher than that of Black households, making it harder for minority entrepreneurs to access personal or family capital to start or grow businesses.
3. Fostering Innovation and Diversity:
Minority entrepreneurs bring unique perspectives and innovative ideas to the table, enriching the entire business landscape. Diverse teams are 70% more likely to capture new markets compared to non-diverse teams. This is due to the variety of perspectives that minority entrepreneurs bring.
Also, Black women are the fastest-growing group of entrepreneurs in the U.S., accounting for 42% of new women-owned businesses in 2019, illustrating a key source of innovation.
By investing in underrepresented founders, unique entrepreneurs and driven innovators, our Mainstreet Fund is not only supporting diversity in the marketplace but also encouraging the development of products and services that better meet the needs of our diverse population.
Submit your company for funding
Are you an underrepresented founder, unique entrepreneur or driven innovator in the Greater Kalamazoo area ready to make a difference?