Latinos are creating businesses at a faster rate than the average for entrepreneurs. But only about one percent of Latino-owned businesses receive the early funding so important (and common) to many average startups. What gives?
Silicon Valley's represnatives are only part of the problem with diversity in technology. The other center of power is known as Sand Hill Road, a part of Silicon Valley that's the center of private equity for the tech industry.
Funding and growth remains a big challenge for Latino businesses, from hi-tech startups to the mom and pop restaurant on the corner. One startup founded by two Harvard Business school students, who are also twin brothers, aims to pin its own by growth on helping small Latino businesses reach their full potential.
Jennifer Lopez might have garnered the most attention from an audience not used to hearing business pitches from global pop superstars last week at the Venture Capital Association's VentureScape conference. But it's her father David, co-founder of the Latino startup-focused Manos Accelerator, who most challenged the assumptions of those investors in budding businesses.