Closing Equity Gaps: AmFam Institute Firm & Portfolio News – March 2024

News From Our VC Firm Investing in Closing Equity Gaps

Cover Photo: The AmFam Institute co-sponsored the Equitech Breakfast at SXSW in Austin, and all the sponsors gathered on stage the day of the breakfast. The Institute’s Social Impact Investment Director, Joy Ippolito, is standing in the top row, fifth from left, and Senior Associate Chaarvi Badani is third from right.?

Newsletter Highlights: Our latest newsletter contains insights on equity, technology, and workforce dynamics. Chaarvi Badani explores the intersection of technology and inclusivity in shaping tomorrow's workforce. Discover our portfolio spotlight on CircleIn's collaboration with Miami Dade Community College and our involvement at SXSW's Equitech Breakfast, fostering inclusive tech conversations. See the latest news stories from our portfolio companies and upcoming events.

?? Opening Note: Shaping Tomorrow's Workforce: A Conversation on Equity and Technology with Chaarvi Badani

Technology will continue to play a pivotal role in shaping workforce dynamics—we're already witnessing the rise of automation, AI, and other technological advancements that have significantly altered “work”. We expect this trend to be both an opportunity and a challenge.??

One of the key implications of technology on workforce dynamics is the increasing demand for specialized skills. As automation and AI become more prevalent, there will be a greater need for employees who can understand, operate, and innovate with these technologies. We are seeing increased demand for entry-level jobs with digital skills like marketing, sales, and cybersecurity. For startups, integrating the latest technologies into their product can improve efficiency and speed to upskilling.?

However, these latest technologies are tools that aid the mission of upskilling and training, but cannot replace strong curriculum, and robust learning. We are not interested in AI being the main tool, but rather products using the capabilities of AI and ML to improve their output. Additionally, we cannot stress enough the fact that all technologies created by humans will imbibe and amplify human prejudices and biases. All companies using any type of technology should continually test it with an unbiased lens and work to improve its potential discriminations.?

Ultimately, while technology presents opportunities for economic growth and innovation, it's essential to ensure that the benefits are shared equitably across society. By investing in workforce development startups that prioritize inclusivity and accessibility, we can build a more resilient and equitable workforce for the future.

Read more on our blog.?

?? Portfolio Company Spotlight: CircleIn

CircleIn - The Virtual Student Community worked with the Miami Dade Community College's Wolfson Campus to create a studying platform to further student success. It ended up seeing so much more.

?? SXSW Recap

The AmFam Institute co-sponsored the Equitech Breakfast at SXSW 2024 in Austin. The event was an excellent gathering of hundreds of diverse Founders, Funders, Ecosystem Builders and Allies all united in a common vision to create and participate in a culture of belonging in tech. This is the second time we've co-sponsored the Equitech breakfast with a mission to increase intentional gathering spaces to foster inclusive conversations and further social impact through entrepreneurship alongside SXSW. We were delighted to be joined by multiple like-minded co-sponsors like Kapor Centre, Village Capital, Carta, Conscious Venture Partners, Techstars Equitech Accelerator, Upsurge Baltimore, Birmingham Bound, and many others! Pictured in the photos above: (Left) Chaarvi Badani and Dr. Joy Ippolito at the breakfast in Austin. (Right) All the sponsors at dinner on the night before the event.

?? AmFam Institute Portfolio News

BlocPower in NPR –?Getting off fossil fuels is hard, but this city is doing it — building by building

BlocPower in Medriva – Bridging the Gap: How Black Communities Are Leading the Charge in Tech-Driven Environmental Justice

BlocPower Press Release – BlocPower Partners With The City Of Cincinnati And Green Umbrella To Support Citywide Decarbonization Strategy

CNote in Triple Pundit –?The Investment Tech Helping Financial Institutions on the Front Lines of Economic Justice

Honeycomb Credit in Daily Coffee News – Honeycomb Credit Offering $2K Grant for Coffee Businesses

Honeycomb Credit in Crowdfund Insider –?HoneyComb Is Reporting $23.2M+ Invested in Local Businesses

Honeycomb Credit in Crowdfund Insider –?Honeycomb Credit is a Top Reg CF Issuer that Can Replace Bank Loans for Smaller Firms

?? Events & Opportunities to Connect

ASU+GSV | April 14-17 - Save the date! We will be co-hosting a get-together with Rethink Education for impact founders and investors in San Diego. Chaarvi Badani , Dr. Joy Ippolito , and Rob Kornblum will all be there, so please reach out if you’d like to schedule some time with them.

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