Entrepreneur Attributes Kirchner HBCU Fellowship to Career Success
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Posted By: Michelle Olgers on August 22, 2024 Only a small percentage of venture capital investment professionals are people of color. Additionally, access to venture capital is not equitable among underserved communities. To address this lack of diversity and support innovative agriculture and technology start-up businesses, the Foundation for Food & Agriculture Research and Kirchner Impact Foundation created the Kirchner Fellowship HBCU Cohort in 2021. The program trains students at historically Black colleges and universities (HBCUs) to become venture capitalists by empowering them to evaluate investment opportunities. It also gives them discretion over investment decisions for companies solving critical food and agriculture challenges. Kirchner Fellowship HBCU Cohort 2021 alumnus Kwame Terra, MPH, credits the knowledge and experience he gained from his fellowship to the success of his startup, bEHR Health Systems (bEHR). His medical and lifestyle management company uses a real-time health score algorithm to develop precision health solutions for the Black community. Users enjoy a mobile app experience akin to Credit Karma, but for health, that offers education and access to health resources. To inform and improve patient outcomes, bEHR collaborates with healthcare providers and community health organizations, utilizing real-time user health data to develop and implement community health interventions. “Evaluating over 60 companies as a Kirchner HBCU Cohort fellow instilled in me the importance of running a lean business,” Terra said. “Drilling down on the data for these early-stage businesses helped me understand how quickly startups can burn through capital without any significant return. That encouraged me to be thoughtful about my spending as I attempt to maximize our company’s limited resources.” The fellowship also introduced Terra to a network of helpful resources, such as venture capital firms like Kapor Capital that invest in social impact startups and minority founders, making him more attractive to potential investors. “Many first-time business founders lack the necessary business perspective that I was provided through this fellowship,” he explained. The fellowship’s beneficial impact on his early career cannot be understated, Terra said. “The real world, hands-on experience it provided is unmatched. I honestly cannot imagine my life without the Kirchner fellowship.” About the Kirchner Fellowship HBCU Program The Kirchner Impact Foundation launched the Kirchner Fellowship HBCU Program in 2021, with support from FFAR, to increase diversity within the venture capital industry by training students at historically Black colleges and universities (HBCUs) to become agriculture technology venture capitalists. Through the program, students invest capital in early-stage food and agriculture companies applying ground-breaking technologies to provide sustainable solutions to address global food challenges. The program is open to HBCU graduate students or undergraduate students with professional business experience. Applicants should be self-motivated, intellectually curious and passionate about the power of impact-oriented, for-profit businesses to address global food security challenges. The program’s matching funders include Kirchner Group, The Rockefeller Foundation, Burroughs-Wellcome Fund and individual donors. If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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