Harlem’s history is not a singular narrative. It is spoken, written, painted, and tasted.
In the countless ways that Harlem tells its story, it simultaneously declares an unmistakable identity.
Today, Harlem’s rich tradition of creative invention can be seen on each corner of every street. Indisputably, this community is a home for inspiration and imagination.
Why then, are its residents left out from the broader conversation of innovation and entrepreneurship?
In 2014, of the $23.09 billion in Small Business Administration loans, black borrowers received just 1.7%. In the same fiscal year, latino/a borrowers received just 4.7%, an 85% increase from 2009. Of 10,238 venture deals from 2012 to 2014, only 24 went to black women.
Harlem is nearly 50% Black and nearly 30% Latino/a. That means almost 80% of Harlem’s population is given an opportunity for only 6.4% of lent capital. About 25% of Harlem’s population would be given an opportunity for .002% of venture capital funding.
HTF aims to support those whose chance at creating has been halted. We aspire to put the decision-making power driving development back into the hands of those who know this neighborhood best. Harlem residents’ voices need to be heard on the global technological stage.