Dallas-based nonprofit Impact Ventures is proving obstacles can indeed become opportunities.

In a recent newsletter to its stakeholders, Impact Ventures shared significant updates about its upcoming events and initiatives. The organization, dedicated to removing social and economic barriers for underserved communities of color, has announced a change in the date for its much-anticipated Inclusive Capital Summit and the launch of its ninth cohort of the Capital Readiness Program. But CEO Benjamin J. Vann had much more to say.

The group has been on “quite the ride,” he said. The past few months have been filled with “highs, challenges, and incredible growth.” Amid a refresh to its headquarters and packed accelerator schedule, the group experienced a massive system outage that’s had ripple effects.

“Like any true entrepreneurial journey, we’ve faced our share of hurdles. But every challenge has only made us stronger and more resilient,” Vann wrote. “Together, we’re proving that obstacles are just opportunities in disguise.”

Vann thanked the community for its support, noting “significant issues related to our Microsoft accounts this past month, that have severely impacted our planning and coordination efforts.”

Now he’s looking ahead. Here’s a rundown of what’s to come.

Inclusive Capital Summit moves to October

Vann said due to “unforeseen challenges” with its Microsoft accounts, Impact Ventures has rescheduled the Inclusive Capital Summit to October 4-5, 2024. (The event was originally scheduled for July 26-27.)  The rescheduling, while unfortunate, is aimed at ensuring the summit meets the high expectations of attendees, according to the CEO.

“The delay is necessary to ensure that we can deliver the high-quality experience you expect and deserve,” Vann said in an email.

Tickets for the new dates will be free, thanks to the support of sponsors and donors. Those who have already purchased tickets will receive full refunds, Vann added. You can learn about free tickets here.

Supporting Cohort 8 with grants and $135K in small biz loans

Members of Impact Ventures’ eighth Capital Readiness Program cohort. [Photo: Impact Ventures]

Impact Ventures also announced the graduation of 12 founders from its eighth Capital Readiness Program cohort. Vann said cohort members displayed “incredible” dedication and innovation, with top honors going to Jaylen LeGrand, Sammi Bivens, and Taevia Norris.

According to Impact Ventures, all cohort members received $1,000. All told, a total of $26,500 in grants were awarded to support the founders’ business ventures. In addition, Vann said, $135,000 in flexible small business loans was deployed through the Inclusive Capital Fund.

Tribe Talk and Learning Lab Workshops to return

Vann pointed to several new initiatives set to launch in the coming months:

• Cohort 9 of the Capital Readiness Program begins next week on July 23, continuing the organization’s mission to support entrepreneurs.
• Tribe Talk Speaker Series will return in August, featuring discussions on AI and its impact on communities. The August 13 event covers AI ethics and impacts on communities of color.
• Relaunch of the Learning Lab Workshops in September, offering valuable educational resources to the community.

The group will also add expertise to Dallas Startup Week, to be held Aug. 11 to 15, .

Impact Ventures gets a design refresh for its HQ—and a ‘generous grant’ from The Meadows Foundation

Vann said the organization also unveiled its refreshed headquarters at a summer mixer. The HQ’s design refresh aims to “foster creativity and collaboration” among founders with space available for event hosting.

He also noted a “generous grant” from the Meadows Foundation, saying it will provide crucial mentorship, training, and development for underestimated women and entrepreneurs of color. The amount of the grant was undisclosed.

Welcoming board members from Woodforest National Bank and Whole Foods

New members of Impact Venture’s board of directors. [Photos: Impact Ventures]

This week, Impact Ventures announced Taryn Burhans and Kelly Hipps as the newest members of its board. Taryn Bowen is the North Texas regional manager and VP at Woodforest National Bank, and Kelly Spillane serves as investment principal at Whole Foods Market.

According to Vann, their expertise and fresh perspectives, combined with their commitment to the organization’s mission, are expected to drive further growth and innovation.

“Both bring not only a wealth of knowledge and a fresh perspective, but they also bring some female energy to the table, and we absolutely LOVE THAT,” Vann wrote.

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