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As the CEO of the only Black-owned and operated micro-mobility start-up company in the United States, I am cautiously inspired by recent statements made by many corporate/entrepreneurial leaders. Google, Bank of America, the Jordan Brand, Lowes, Ben & Jerry’s, amongst many others, have come out publicly in support of developing and/or resourcing Black businesses. Given all that is going on in our nation, these statements are inspiring. But I remain cautious about them and the possibility of impactful action because of my personal experience as an emergent entrepreneur. I remain inspired, but cautious, because I know that there is a long road from statement and/or rhetoric to real investment in the Black community.
As my team has worked diligently to raise funds, secure licenses, manufacture our products and develop our services, we have been consistently deterred by an array of gatekeepers. Although our work, our services and our product are professional, and in some cases essential to the “new normal” economy, we still continue to be confronted by a business bureaucracy that systemically disadvantages Black entrepreneurs. I won’t belabor the statistics (or our anecdotes) here, but suffice it to say that we need leaders in the corporate world who are committed to economic equality and equity beyond the public statements. We need to understand explicitly how the resources that are being announced (to great fanfare) will actually be awarded and/or distributed in the Black entrepreneurial community.
Verve Inc. is a start-up micro-mobility company that I founded in Philadelphia, Pennsylvania. E-scooters and E-bikes can be an essential complement to our public transportation systems. At the same time, micro-mobility can also provide a safer alternative to public transportation and rideshare services. And our micro-mobility services can reach neighborhoods that are underserved by both public transportation and rideshare services. We are also mission-committed to hiring the formerly incarcerated. I believe in Verve and in its entrepreneurial viability, but the data on micro-mobility and our company is clear and affirmative with respect to what we can contribute to the developing economy.
In order to make a small Black-owned company like Verve thrive in this economy, we need the support of corporate/entrepreneurial leaders. We need to understand how all of the current rhetorical statements will be transformed into economic investment and development. Without an explicit understanding of the logistics behind the rhetoric, our sense is that the resources promised will not directly impact the Black entrepreneurial community in the manner intended. We hope that these words can be a start of the conversation and the work ahead to establish economic equity in the Black start-up and entrepreneurial worlds.
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Kevin Thompson is the CEO of Verve Scooters.
