Celebrating Inclusivity with EforAll Colorado: Highlights from our Denver Startup Week Panel

On September 18, 2024, at 2PM, the vibrant world of inclusive entrepreneurship took center stage at a virtual panel discussion titled “Building an Inclusive Economy through Entrepreneurship."?

Hosted during the 2024 Denver Startup Week , the event brought together a dynamic group of entrepreneurs, EforAll alumni, mentors, and community advocates to delve into the transformative role of inclusive entrepreneurship in building a more equitable economic landscape across Colorado, showcasing what inclusivity in entrepreneurship looks like in practice.

EforAll Colorado hosted this panel to champion inclusive entrepreneurship as a powerful way to address opportunity inequality and boost economic growth within local communities by supporting underrepresented entrepreneurs who are uniquely positioned to drive change from within.

Setting the Stage for Inclusive Entrepreneurship

Regina Rodriguez-Manzanet , Executive Director of EforAll Colorado, kicked off the event with palpable excitement, emphasizing the need for discussions surrounding inclusive entrepreneurship. She highlighted the systemic barriers that underrepresented entrepreneurs face, such as limited access to capital and mentorship. By sharing compelling statistics, Regina illustrated the disparities in business ownership among women and BIPOC individuals, reinforcing the necessity of initiatives that support these communities. She stated, “To create an equitable economic landscape, we must confront the barriers that prevent women and BIPOC individuals from accessing capital and mentorship.”

Defining Inclusive Entrepreneurship

As the conversation unfolded, the panelists delved into what inclusive entrepreneurship means. It’s about intentionally creating opportunities for diverse groups—women, minorities, immigrants, people with disabilities, and those from lower-income backgrounds.

Unlike traditional entrepreneurship, which often favors individuals from privileged backgrounds, inclusive entrepreneurship prioritizes tailored support, funding, and mentorship for those lacking access. This shift is crucial not only for financial success but also for fostering social and environmental impacts, aligning with a "triple bottom line" approach.

Meet the Masters of Ceremonies and Panelists

Guiding the discussion was Dave Taylor , a tech pioneer, seasoned entrepreneur and founder of AskDaveTaylor.com, and mentor within the EforAll community since its inception in Colorado back in 2020. Dave’s long-standing commitment to inclusivity in the entrepreneurial landscape resonated throughout the event. Dave noted, “As a mentor, my role is to help entrepreneurs avoid the mistakes I've made and guide them toward unique learning experiences that foster growth.” He was joined by a remarkable lineup of panelists:

• James Clark , an EforAll mentor and member of the EforAll Advisory Council, shared his insights on the impact of mentorship within local communities, stating, “Mentorship is not just about giving advice; it’s about creating connections that empower entrepreneurs to thrive in their environments.”
• Victoria Garcia , founder of The Latina-Owned Collective and Apapacho Cacao, as well as EparaTodos alum, highlighted her experiences navigating the entrepreneurial journey. She shared, “My mentor helped me realize that serving the community must also translate into a sustainable business structure. This led to the shift of the Latina-Owned Collective to a membership-based model.”

• Berenice El Gharamti , founder of Monarca Group and an EparaTodos stakeholder and volunteer mentor, discussed the importance of fostering connections among entrepreneurs, saying, “Building a supportive network is crucial. It’s not just about individual success but lifting each other up within the community.”

• Angel Johnson , founder of ICONI and another EforAll alum, provided a unique perspective on the challenges and triumphs of building a business, emphasizing, “Entrepreneurship is a journey filled with ups and downs. It’s vital to learn from both the challenges and successes as we pave our paths forward.”

• Makisha Boothe , founder of Sistahbiz Global Network , offered her invaluable experience supporting Black women entrepreneurs, the fastest-growing entrepreneurial demographic in the U.S. She passionately remarked, “Our mission is to empower Black women entrepreneurs because they represent one of the fastest-growing entrepreneurial demographics. We need to ensure they have the resources and support to thrive.”?

Exploring Pathways to Success

The panel discussion covered a range of topics, including the significance of financial literacy and transparency within businesses. Panelists underscored the necessity of educating employees on profitability to foster a shared understanding of business health. James Clark remarked, “Financial literacy isn’t just for business owners; it’s essential for everyone involved in the organization. When the whole team understands the numbers, they can contribute to the success of the business.” Each panelist emphasized that sustainable growth often stems from a balance between mission and profit, allowing entrepreneurs to make a meaningful impact without sacrificing financial viability.

Through engaging anecdotes, the panelists illustrated the critical role of mentorship. Victoria Garcia shared how her mentor helped her structure her business for sustainability, ultimately leading to a membership-based model for her venture, the Latina-Owned Collective. “Having someone guide you through these changes can make a world of difference,” she stated, emphasizing the transformative power of mentorship, specifically for her as a Latina and first-generation daughter of Mexican immigrants.

The Value of Diverse Perspectives

As the discussion continued, the panelists reflected on the importance of diversity in driving innovation. Each entrepreneur brought unique perspectives, which fostered a dynamic and socially responsible business landscape. Berenice El Gharamti noted, “Diversity is our strength. Each of our backgrounds brings different insights, and those insights lead to innovative solutions.” The mentors echoed this sentiment, emphasizing that their role was not to provide direct advice but to share relevant experiences that resonate across industries.

Panelists also highlighted the significance of building a supportive community. They discussed how networks, particularly within underrepresented groups, can provide real-time support and resources. For example, connecting through platforms like WhatsApp has enabled entrepreneurs from Latino communities to access vital information about business resources, bridging gaps that traditional channels might overlook. Angel Johnson shared, “We need to leverage technology to create spaces where underrepresented entrepreneurs can find each other and share resources quickly.”

Emphasizing Emotional Intelligence and Cultural Competency

A critical aspect of effective mentorship discussed during the panel was the importance of emotional intelligence and cultural competency. Mentors should understand both their strengths and limitations while being mindful of the unique backgrounds and challenges faced by entrepreneurs. This self-awareness fosters relatability and kindness, creating an environment conducive to growth.

The Role of Access to Capital in Empowering Underrepresented Entrepreneurs

Makisha Boothe highlighted the critical need for mentorship that extends beyond advice to tangible resources, emphasizing, “Understanding where someone comes from and the challenges they face is vital in building trust. That trust is what allows mentorship to truly flourish.” She explained that while mentorship is essential, it’s not enough on its own; real support also means opening doors to the critical resources necessary for business growth. Boothe pointed out a common hurdle, saying, “Black women are often over-coached and over-mentored, but under-funded.”

Angel Johnson echoed these sentiments, emphasizing how access to capital fueled her business’s success. She shared her experience of working with mentors who, while different from her, offered indispensable guidance in unlocking financial networks. "Access to capital was the key to my business growth. Even though my mentors looked very different than me, they listened and provided me with the keys to accessing financing networks for my business."

Both Boothe and Johnson’s experiences underline the need for a holistic approach to inclusive entrepreneurship, where entrepreneurs are equipped not only with knowledge but also with the critical resources that enable them to compete and thrive.

Conclusion: A Call to Action for Inclusive Entrepreneurship

The panel was more than just a discussion; it was a call to action for established entrepreneurs to support the mission of inclusive entrepreneurship. The insights shared during this event reaffirmed the significance of creating a diverse entrepreneurial community where all voices are heard and valued.

We would like to extend our heartfelt thanks to our MC, Dave Taylor, for guiding the discussion with passion and expertise. A special thank you to our panelists—James Clark, Victoria Garcia, Berenice El Gharamti, Angel Johnson, and Makisha Boothe—for sharing their valuable insights and experiences.

We also appreciate the community members who joined us during Denver Startup Week, making the event a resounding success. We would also like to thank our Executive Director Regina, our English program manager Ally Barth , and our EforAll Colorado mentor Kyle Brill , along with the Denver Startup Week team, for collaborating to make this event possible.

As we continue to navigate the complexities of entrepreneurship, let us remember that success is not solely defined by financial metrics but by the impact we make in our communities. By fostering inclusivity and supporting one another, we can build a stronger, more equitable economy for all.

Join Our EforAll Colorado Ecosystem

We invite you to be a part of our mission to foster an inclusive economy in Colorado. Discover details about our no-cost programs for underrepresented entrepreneurs at https://eforall.org/colorado/.

Are you interested in making a direct impact, paying it forward to the next cohort of EforAll Colorado entrepreneurs?

Explore Winter '25 volunteer opportunities to support entrepreneurs for 12 weeks as an accelerator mentor by visiting: eforall.org/volunteering/become-a-mentor/.

To connect with us or for any inquiries, please email us at [email protected].

Additionally, your generosity can help sustain our programs. Consider making a donation to support our initiatives at https://eforall.org/donate/.

Together, we can build a thriving entrepreneurial ecosystem that empowers all individuals to succeed!