In a recent excerpt from an article by the WSJ, Mr. Carl Schramm, President of the Kauffman Foundation, makes comments about investments in Minority Entrepreneurship:
Finally, the foundation goes out of its way to support minority entrepreneurship. Mr. Schramm doesn’t use any social-justice lingo to explain the program, but reverts to a kind of charming nerd-speak. He says that after a lot of analysis, Kauffman has found that there is “the greatest delta among black males.” In other words, for a given amount of entrepreneurial investment, that group will see the greatest improvement in its economic status. While there are many activists out there saying that foundations should give more to minorities, you won’t find many who offer the Kauffman philosophy: “We should have a proportionate number of black billionaire owners of businesses as exists in the majority community,” says Mr. Schramm.
We too have seen a similar nexus between investment in Hispanic Entrepreneurs and social gains. Overall investment in Entrepreneurship will promote the greatest societal gains, however, research has proven that greater gains are obtained within those societal segments where the greatest economic disparities currently exist.