Black Women Talk Tech brings Roadmap to Billions to Toronto, Canada this September 2024

BY SIMONE J. SMITH

There was a recent controversial court ruling about the Fearless Fund, known for its dedication to funding African women entrepreneurs. They were ordered to cease providing grants exclusively. This decision has sparked heated debates about the future of targeted funding initiatives designed to level the playing field in the venture capital landscape. Despite these challenges, Black women continue to defy the odds, and today, I want to introduce an organization who is stepping up to fill the gap and support this dynamic group of entrepreneurs, but first let’s look at some interesting statistics.

Despite making up only 3% of the tech workforce, women of colour are the fastest-growing group of entrepreneurs in the United States. Even though they receive just 0.1% of venture capital funding, they are starting businesses at an impressive pace. Esosa Ighodaro and Regina Gwynn recognized the absence of a clear roadmap to billions for African-American/Canadian women in tech, so they decided to create their own. This led to the birth of Black Women Talk Tech (BWTT). The idea took root in 2015 with the first “unofficial” Black woman founders’ retreat, which underscored the need for a more formal gathering.

In the fast-evolving world of technology Black Women Talk Tech (BWTT) has become a powerful and inspiring wave allowing African-American/Canadian women to make their mark, and lead the charge in the tech industry. The importance of BWTT cannot be overstated. In an industry where women of colour receive less than 1% of venture capital funding, BWTT highlights the unique challenges and immense potential of this group. The work that they do serves as a crucial platform for visibility, enabling Black women to showcase their innovations, connect with investors, and gain the mentorship needed to scale their businesses.

From coding to entrepreneurship, from data science to leadership roles, African-American/Canadian women are transforming the tech landscape. Their contributions are not only driving innovation, but also bringing much-needed diversity and inclusion to the industry. This rise of African-American/Canadian women in tech is a reflection of their: resilience, determination, and unyielding spirit. Their significant advancement in this industry highlights the importance of representation and the impact of diverse voices in driving innovation.

Esosa and Regina had envisioned a space where African-American/Canadian women could come together to: share experiences, network, and inspire one another in an industry where they are often underrepresented and overlooked. The very first BWTT: Roadmap to Billions event took place at Google, with 30 attendees, and since has grown into an annual conference attracting over 1,300 attendees. For the past seven years, Roadmap to Billions has provided: education, inspiration, and opportunity for over 10,000 attendees, facilitated vital conversations between founders and investors, and created funding pipelines for over a dozen women pitch winners to receive nearly $30M in venture capital funding.

The next stop in their journey is taking them across the border as they host Roadmap to Billions in Toronto, Canada for the first time this September 2024. With a line-up of prominent Black females in the tech space and a growing roster of sponsors and partners, this event will open up a space for African-Canadian women in tech to find the support and resources they need to grow thriving ventures in Canada.

I am personally excited about this for our community here in Toronto, because as a community, we have struggled to embrace this digital revolution. I completely understand why; it is intimidating. That is why I am glad that we have intelligent women like Esosa and Reginal to help us with this transition. I had a moment to meet with them last week, and they gently guided me into this world that is still so new for us.

“If you could have dinner with any tech innovator or entrepreneur, dead or alive, who would it be and why,” I asked. This has become one of my favourite ice-breaker questions.

“Steve Jobs,” they both replied. Regina shares, “Steve Jobs ushered in premium, sophisticated technology. He had that vision that was so clear to him. It is just a zone of genius that I have not seen anywhere else.”

“Steve Jobs is one of the most inventive people of his time,” Esosa follows up. “Some of us may not know this, but Steve Jobs is the mind behind podcasts. He has been responsible so many telecommunication innovations.”

It was time to really dig into our topic. “What was your initial reaction to the Fearless Fund court ruling,” I quiried?

“My first thought was here we go again,” Esosa tells me. “Why are we under attack, and what is the bigger play. There is always an attack on our community on a whole. What can be so wrong with awarding Black women grants. What is most interesting is that this came right after the appeal for affirmative action.”

“With that being said, what are some of the other significant challenges Black women face in the tech industry, particularly in securing venture capital funding?”

“There is a need to increase accessability to social capital,” Regina begins. “You have to be in the right places to meet the right people who can write those checks. I have gone to these events and been the only Black woman in a room. Being able to have those warm introductions, opens up avenues which will allow a person to tap into funding. This is non-existing in the world of tech.”

“How does Roadmap to Billions address these challenges and create opportunities for Black women entrepreneurs?”

Regina continues, “We have seen the power of these collective gatherings, and we have been doing this for eight years now. The education piece is very important. We are here to provide access to higher level entrepreneurial conversations and open up market opportunities. How exactly do you tap into investment opportunities in the US. We thought it would be a healthy idea to put Black Canadians on stage who are able to provide the education necessary to navigate this landscape.”

“What are the primary goals for the Toronto conference, and how do they align with the overall mission of Roadmap to Billions?”

“To help Black women win. Period,” Esosa says enthusiastically. “We did this early in the US, we want to be able to support Black women globally. Stepping into Toronto, and seeing all the innovation, it is about time that we have the ability to connect and build partnerships with the entrepreneurs. It is about changing the trajectory of the community.”

“What advice do you have for aspiring Black women entrepreneurs looking to enter the tech industry? I defintely want to hear from both of you.”

“To start,” Esosa shares, “A lot of times, when it comes to our brilliant ideas, we don’t really actually get an opportunity to get them out of our minds, and into action. The best advice I can give is try to figure out and be creative about how to get things done at low cost, or for free. Be thoughtful about your resources and how to manage those resources. Hey, I believe in competition. I say, be the Serena of your industry. Work on being the best at your space. Try to better understand the language of venture. You will figure out how to understand what that investor wants, and then, you will know who to pitch too.”

“Brilliant! Regina, your thoughts?”

“Get started! My sentiments are very similar to Esosa. Test everything, test as many paths, test as many customers for the least amount of money possible. You want to spend money on the things that work, not the things that don’t work. Don’t get psyched out, even if someone else has your idea. There is space for everyone. We can expand the pie, and everyone can get a piece.”

Events like the Roadmap to Billions are crucial. They provide a platform for African women across the diaspora to share their experiences, network, and gain visibility. It’s about creating opportunities and opening doors that were previously closed.

Black Women Talk Tech’s journey is not just about breaking barriers; these trailblazers are redefining what it means to be innovators and leaders. The advancement of African-American/Canadian women in tech is not just a win for diversity, but a testament to the broader progress of Africans in the diaspora. It showcases the rich talent and potential that has always existed but is now being recognized and celebrated.

As we continue to celebrate our community’s achievements, let us remember that this is just the beginning. The rise of African-American/Canadian women in tech is a powerful reminder of the limitless possibilities that lie ahead when we embrace diversity and champion inclusion. Together, we can create a future where everyone has the opportunity to thrive and innovate. For those who are interested in being part of this incredible journey, Esosa and Regina have provided a DISCOUNT CODE: that you can use when purchasing your tickets for the event.

Hope to see you there!