r/ga Ventures Launches Coalition Venture Studio for Black Founders

R/GA Launches Coalition Venture Studio for Black-Led Startups

R/GA, a prominent design and marketing consultancy, is broadening the scope of its Venture Studios program. They are introducing a new Coalition Venture Studio specifically designed to bolster Black-led and Black-owned startups.

Program Leadership and Origins

The initiative is spearheaded by Davyeon Ross, currently serving as R/GA’s Entrepreneur in Residence. Ross himself is a Black entrepreneur and the founder of ShotTracker, a company specializing in sports analytics.

ShotTracker, which benefits from backing by Verizon Ventures (the investment arm of TechCrunch’s parent company), previously participated in R/GA’s Dodgers Accelerator. Ross credits the agency’s network with significantly contributing to ShotTracker’s achievements.

“My experience provided a direct understanding of the influence of R/GA Ventures,” Ross stated.

Participation and Structure

To qualify for the Coalition Venture Studio, startups must demonstrate majority Black ownership or have a Black individual in a key leadership position – CEO, CTO, or board chair.

However, the program will diverge from conventional application processes. It will not be restricted to a limited number of startups at a time.

“Instead of cohorts, this will be a continuous initiative,” Ross explained. “The process involves registration rather than a competitive application. Following vetting in collaboration with R/GA, companies will be positioned for projects within the R/GA agency.”

Support Offered Through the Coalition Program

Startups meeting the criteria will gain access to three primary forms of support:

Creative Capital: This encompasses consulting, design, copywriting, and related services.
Relationship Capital: Access to introductions within R/GA’s extensive network of major clients.
Financial Capital: Potential funding opportunities through a syndicate led by R/GA Ventures.

Context and Industry Concerns

The launch of this studio follows heightened discussions regarding racial equity and representation within the startup and venture capital landscape, sparked by last year’s protests.

Ross acknowledges the positive momentum of these conversations, but emphasizes the persistent disparity in funding. Only 1% of venture capital funding was allocated to Black entrepreneurs in the previous year, raising concerns about a potential return to the status quo.

“There’s a tendency for society to react to events and then quickly move on,” he observed. “R/GA’s commitment is encouraging because it emphasizes accountability, provides accessible avenues for involvement, and prioritizes impactful storytelling. Many companies issued statements; this provides a tangible way to act.”