By Dana Sanchez
In Silicon Valley, Black founders and tech workers are severely underrepresented.
The federal government sets aside $2.5 billion each year for small businesses engaged in research and development that has commercial potential.
Black-owned businesses, women-owned businesses and economically and socially disadvantaged groups need to claim more of this money, said Spencer Hamilton, a business advisor for the Small Business Development Center in San Mateo County, which covers most of the San Francisco Peninsula.
“A lot of startup companies in the Valley or elsewhere are not aware that a lot of companies such as Qualcomm, 23 and Me, and in fact even Google got their start from non-dilutive funding from the federal government,” Hamilton told Moguldom.
How Google got its start with federal funding is a little-known story.
In 1995, the U.S. intelligence community was looking for ways to track individuals and groups online, seeking control over the vast amounts of data that were getting out of hand.
The research arms of the Central Intelligence Agency (CIA) and the National Security Agency (NSA) started funding computer scientists.
The hope was that these brainiacs could take non-classified information and user data, combine it with what Click here to read entire article