100K Incubator has helped women access more than $5,000,000 in capital.
The 47 Serrano
Women represent 40% of all self-employed immigrants in the United States according to the Kauffman Index. The number of self-employed women immigrants jumped from just 180,000 in 1980 to 1.3 million entrepreneurs in 2014, according to a George Mason study, and nearly 13% of all women owned firms are controlled by women who are born outside of the United States. While the growth is exciting, immigrant women not only encounter the same issues U.S. born women encounter, but they also tend to experience deeper lack of capital due to limited credit history and friends / family networks for investment. Additionally, there can be language barriers to understanding the U.S. financial system, which is already challenging enough for most new entrepreneurs. We dedicate this sneaker to immigrant women entrepreneurs, and funding more of their businesses through cash grants and ongoing partnerships. $100 of each sneaker sale will go toward funding women entrepreneurs and providing subsidized coaching services to those in need.
We honor Celia Cruz as a remarkable woman entrepreneur who broke ground in the U.S. entertainment industry after emigrating from Cuba. Her first home in Cuba was located at 47 Serrano St in Havana where she began singing as a child. Many years later, not only did Celia become a symbol of success for Black and Latinx women amid racial tensions in the 1960s, but she inspired women around the world to create their own opportunities and careers. We honor her and the millions of other women forging their own paths in new countries.
Source: National Women’s Business Council, 2020