Bootstrapping 101: How to Launch Your Startup Without Investors
The lack of diversity among startup founders isn’t about talent or intellect. It’s money. A study published by RateMyInvestor exposed the bitter truth: Black startup founders only make up a measly 1% of those backed by VCs. And if you think that’s bad, try being a black startup founder and a woman . Farah Papaioannou, co-founder of the tech startup EdgeWorx , shared in an article published by Crunchbase how female startup founders belonging to minority groups are discounted during meetings. She even feared investors would find out that she was pregnant. Fortunately, black startup founders are becoming more aware of alternative ways to launch without VCs. It’s called “bootstrapping” What is bootstrapping? Bootstrapping means launching and growing your startup using your personal financial resources and your co-founder’s. It’ s not for the faint-hearted but it’s the most rewarding route. Here’s why: You still own your startup. Getting financial support f...