Skip to Main Content

EPS160 - New Venture Creation: Economic Development Pyramid

Process of starting a new venture including evaluating specific business opportunities identifying financing alternatives, and defining start-up issues. Prerequisites: None.

Economic Development Pyramid

 

 

Rise Rise of the Rest Virtual Tour: The Economic Development Pyramid

Rodney Sampson (OHUB) and Dell Gines (Federal Reserve Bank of Kansas City - Omaha Branch) walk us through the Economic Development Pyramid: a model for building racial equity in tech ecosystems.


 

Rodney Sampson

Rodney Sampson
Chairman & CEO,
Opportunity Hub ; General Partner, 100 Black Angels & Allies Fund ; and Venture Partner, Draper Goren Holm
Rodney Sampson is heralded as the leading pioneer in building diverse, equitable and inclusive ecosystems from the ground up.
He is respected as a pioneer and innovator of streaming technologies at the start of the 21st century; and was the first Black cofounder of a technology startup to raise millions in venture capital throughout the Southeastern United States. Today, he serves as Chairman & CEO, Opportunity Hub; General Partner, 100 Black An gel s & Allies Fund; and Venture Partner, Draper Goren Holm. Sampson is also a Nonresident Senior Fellow in the Metropolitan Policy Program at the Brookings Institution in Washington, DC; a Venture Partner at Draper Goren Holm; and Keohane Distinguished Visiting Professorship at the University of North Carolina at Chapel Hill and Duke University. A strong believer in philanthropy and its role in social impact and advocacy, Sampson supports and serves on the boards of Blac Black I n AI, Artificial Intelligence for All (AI4All), Multicultural Media, Telecom and Internet Council (MMTC), International Bishops Conference, and GA Technology for A All Policy Summit. Sampson was educated at Tulane University, Pennsylvania State University College of Medicine and Keller Graduate School of Management; an d i s a member of Omega Psi PhiFraternity, Inc.

OHUB Equity Districts Build Diverse and Equitable Entrepreneurial Tech Ecosystems

OHUB
OHUB is the parent holding company of a suite of businesses committed to increasing racial equity in the fourth industrial revolution ; including a not not-forfor-profit foundation and an ecosystembuilding investment fund.

 

Equity District Formation
In June 2020, OHUB formed Equity District as a wholly owned subsidiary to for joint ventures with real estate developers, corporations, community foundations, colleges and cities via public public-private partnerships to build “Innovation and Equity districts.” Innovation & Equity Districts are mixed mixed-use residential, commercial, and retail community concepts that house OHUB’s early exposure, immersive learning, startup
support, and investing programs in socially disadvantaged communities and/or Opportunity Zones.

 

Definition of Equity District
An equity district is an institutional ecosystem development framework for operating adiverse, equitable and
inclusive technology, startup and venture community that intentionally ensures socially disadvantaged
communitiescommunitiesin acity (particularly Black,Latinx, Latino and Indigenous) are equitably includedat all levels in the future of work in the fourth industrial revolution and beyond— as path to shared prosperity and multimulti-generational wealth creation with no reliance on pre-existing multimulti-generational wealthwealth. Learn more about OHUB and Equity Districts: https://opportunityhub.co/ OHUB Equity Districts Build Diverse and Equitable Entrepreneurial Tech Ecosystems Source: Rodney Sampson, OHUB (https://opportunityhub.co/)

EXPERT INSIGHT

EXPERT INSIGHT
• Creating racial equity in the fourth industrial revolution is the best path to close the racial wealth gap for all Americans,
especially Black, Latinx and Indigenous Americans.
• To achieve racial equity at scale, the technology, startup and venture ecosystem must be intentional about funding the early
exposure, rapid up up-skilling and re re-skilling, talent acquisition, innovation, entrepreneurship support programming, accelerators,
funds and ecosystem building organizations that focus on Black, Latinx and Indigenous communities.
• The ecosystem must aim for over 50% participation from Americans from socially disadvantaged communities at all levels of
American’s technology companies, high growth startups and venture funds to reach scale. Everything else is performative.
• To start, organizations must operationalizing diversity, equity & inclusion solutions across their board & governance, human
sources, procurement, product development, go to market, investment and impact. This requires funding. All else is
performative.

Equity Districts Seek to Turn Challenges…

  • Equity districts were born out of finding solutions to meet the following challenges faced by Black Americans, identified by OHUB:

    • 4.5 million jobs in Black America will be lost due to job automation.

    •  <1% of tech engineers and executives are black.

    • Because of past and current discrimination, America is missing out on 1.1 million minority small businesses and 9 million new jobs jobs.

    •  <1% of all venture capital goes to Black founders who are fueling edge
      technologies that are enabling the fourth industrial revolution.

    • By 2053, the median wealth of a Black family is projected to be zerozero.

      Sources: OHUB, (https://opportunityhub.co/); Austin, 2016; Berkes , E. & Gaetani, R. (2019); U.S. Equal Employment Opportunity Commission; Ewing & Marion Kauffman Foundation; Prosperity Now