Fearless Fund Founder Arian Simone

The vibrant city of New Orleans played host to the National Urban League Annual Conference from July 24 to July 27, 2024, marking a significant event in the civil rights and urban advocacy landscape. This year’s conference, held at the Hyatt Regency New Orleans, was a testament to the power of Urban League movement in addressing the threats to our democracy, the value of diversity in driving business and societal progress and the importance of defeating poverty. With high profile plenary sessions, motivational rallies, award luncheons and small business workshops, the conference provided content and direction to empower communities.

At almost every turn throughout the conference, the National Urban League’s D3 campaign (Defend Democracy, Demand Diversity, Defeat Poverty) was omnipresent. The “Reclaim Your Vote” rally, held at Xavier University, emphasized the importance of voting rights and political participation in the upcoming election.

The headliner of the rally, Dr. Michael Eric Dyson framed the importance of being involved in the upcoming election in light of the efforts of conservatives to erase history through book bans, restrictions on curriculum and assaults on diversity. He proclaimed, “We’ve got to voice our total experience, V-O-T-E, because it’s not just who’s in the White House, it’s who’s on the Supreme Court …” igniting a wave of enthusiasm among the participants.

The following day at the opening plenary session, NUL President and CEO Marc Morial provided context for the challenging political landscape and challenges to promoting diversity the Urban League faces. He commented that the Urban Leagues come together, “…in hope, faith and in dedication and with determination that our work and fight for freedom, justice and equality will not be thwarted and will not be diminished and not be undermined by anyone, anywhere, anytime.” Another prevailing theme throughout the conference was the importance of engaging in the upcoming election because of the potential threat of the Heritage Foundation’s Project 2025, which seeks to undermine the gains made since the passage of Brown v. Board of Education 70 years ago and the Civil Rights Act of 1964.

“Diversity is not just a metric to be strived for; it is an essential ingredient for success,” remarked Morial, during his opening address. The conference echoed this sentiment, with numerous speakers highlighting how inclusive practices lead to better decision-making, greater innovation and stronger connections with diverse markets. During the Women of Power Awards Luncheon, NUL recognized Arian Simone, the founding partner and CEO of Fearless Fund, the nation’s first venture capital fund built by women of color for women of color.

Simone shared the importance of resilience and fearlessness in entrepreneurship to drive economic growth and social change. “Women of color are the most founded entrepreneurial demographic while being the least funded. Receiving only 0.39% of venture capital funds while making up over 20% of U.S. population.” She went on to say that “prior to the Fearless Fund, the average funds raised by a Black female were $30,000 and only 34 Black women had raised a million dollars for their business. The Fearless Fund came on scene cutting seven-figure checks.” Her remarks also highlighted the importance of having diverse teams, noting diverse teams outperform non-diverse teams any given day.

The conference was not just a place for dialogue but also a hub for resources aimed at empowering small businesses and entrepreneurs of color. Entrepreneurs were invited to participate in a one-day Small Business Matters Entrepreneurship Summit, an interactive event designed exclusively for small business owners and aspiring entrepreneurs. Workshops like “Finding Funding: How to Obtain Capital for Your Business” and “Access to Opportunity: Leveraging Supplier Diversity Programs to Become a Corporate Supplier” focused on helping businesses scale up their enterprise. Other workshops focused on the larger environment of entrepreneurs of color including, “Creating Ecosystems for Black Entrepreneurs to Flourish”.

The summit also included a “Connection Zone,” a dedicated space providing access to valuable resources from both the private and public sectors, where attendees could connect with mentors, access funding opportunities and learn from successful business owners.

The conference concluded with a Community Day and Family Expo featuring a college fair, home ownership workshops hosted by the National Association of Real Estate Brokers and a legal clinic for record expungement. The conference showcased the Urban League’s efforts to not only stay politically engaged but also to support entrepreneurs of color, highlighting programs that provide access to capital, mentorship and business education. When it comes to defending democracy, demanding diversity and defeating poverty, the message was clear: diversity in politics, community and business is not just a social imperative but a business necessity.