Houston, TX – October 22, 2024 – Uncle Funky’s Daughter, a pioneering brand in natural hair care with deep roots in community, is excited to announce a groundbreaking partnership with Texas Southern University (TSU) to support and empower female entrepreneurs. This partnership coincides with the launch of TSU’s Entrepreneurial Hub, and will include the creation of the MPoWR Her Grant—an initiative aimed at empowering African-American women as they embark on their entrepreneurial journeys within the university’s startup incubator.
The MPoWR Her Grant
The MPoWR Her Grant is funded by a $50,000 endowment. This endowment comes from The Rhoten Morris Family Foundation, founded by Uncle Funky’s Daughter’s Chief Curl Officer, Renee Rhoten Morris, and TSU. Each year, the grant will go to a qualified African-American female student at TSU who is working on a startup.
“This grant reflects our commitment to empowering women and investing in the future of African-American women in business,” said Morris. “We’re proud to partner with TSU, a university known for its excellence and leadership.”
This initiative is important, especially given the current trends in entrepreneurship. According to J.P. Morgan, African-American women are the fastest-growing group of entrepreneurs in the U.S. They saw a 50% increase between 2014 and 2019, compared to a 24% increase among all women-owned businesses. However, these founders get less than 0.35% of total venture capital funding in the U.S., often relying on personal savings or credit.
Challenges Facing Black Female Entrepreneurs
A 2023 report by the Federal Reserve shows that 65% of Black women business owners use personal funds to start their businesses. The MPoWR Her Grant aims to help by offering financial support to these early-stage entrepreneurs and removing some of the barriers they face.
“We must create channels that help us change the playing field. HBCUs play an essential role in cultivating African-American talent. We’re proud to be part of TSU’s Entrepreneurial Hub, which will nurture the next generation of innovators. This grant underscores our dedication to empowering future female leaders, fostering education, and creating pathways for building generational wealth.”
Chief Curl Officer, Renee Rhoten Morris
This grant will help both students and TSU by strengthening its academic environment and drawing in driven, talented entrepreneurs. TSU, a historically Black university, is home to more than 10,000 students, many of whom are women preparing to launch businesses.
“Texas Southern University is excited to partner with Uncle Funky’s Daughter,” said Charlie W. Coleman III, TSU’s Associate Vice President of Development & Alumni Engagement. “Together, we’re empowering the next generation of leaders.”
This collaboration marks a key moment in TSU’s lead-up to its 100th anniversary, reflecting the university’s commitment to building an inclusive entrepreneurial ecosystem.
For more information about the partnership between Uncle Funky’s Daughter and Texas Southern University, visit TSU.
