Before founding Nxt Wave Founders®, our Founder President, Luisa Bracamonte, learned the value of zeroing in one what’s trending in the domestic startup ecosystem, and decided to run all aspects of a non-scientific market study in 2018. She interviewed 1,500 individuals and organizations across 22 cities.
Marginalized demographics by geography and economic factors had minimal or none access to technical education and seed funding compared to high-tech cities. The study further zoomed into a number of systemic issues holding communities back from economic mobility. Reality was painful to admit.
Even more painful was the realization about how the growth in philanthropy in recent decades had failed to curb the growth in social and economic inequality in these communities.
In a conversations with Kevin Laskowski, a field associate at the National Committee for Responsive Philanthropy, he commented, “We should expect inequality to decrease somewhat as philanthropy increases … It has not.”
Albert Ruesga, President and CEO of the Greater New Orleans Foundation, reflected: “The collective actions of 90,000+ foundations … after decades of work … have failed to alter the most basic conditions of the poor in the US.”
The status-quo was inefficient and getting on the way to building a business pipeline of better idea-companies that could bring opportunities to marginalized communities by creating jobs and igniting local economies. The status-quo presented an extraordinary opportunity, and our founder grabbed it.
*** THIS WAS THE REALITY PRIOR THE COVID-19 PANDEMIC ***
Nxt Wave Founders® INC. is a charitable organization organized and operated exclusively for exempt purposes set forth in section 501(c)(3) of the IRS. EIN: 84-3277794.
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