Jasmine Shells, MBA ’21, founded her startup in Chicago with the intention of building it in Chicago as well. But when it came time to raise money, the checks were elusive. So she moved the company to New York, where venture dollars flow more freely.
She soon returned, however, determined to grow her business in a city that needs examples of Black founders succeeding and where the startup culture is increasingly devoted to helping its own.
“It has been so inspiring to see the commitment that Chicago founders have to Chicago,” said Shells, cofounder and CEO of Five to Nine, a management platform for workplace events and programs that she launched in 2019. “That’s one thing I will say I think is so different from the coasts, just in terms of the resilience and also the dedication that people have. People love this place. So I’m just excited to see how the support will continue to increase over time.”
Shells shared her thoughts during a virtual panel discussion last week marking Black History Month. The event, Celebrating Black in Tech – Chicago Black Businesses, was hosted by General Assembly, a Chicago-based tech education company, in partnership with the Polsky Center for Entrepreneurship and Innovation and the National Black MBA Association’s Chicago Chapter. National Black MBA, which has 40 chapters globally, started at the University of Chicago business school in the 1970s.
Black startup founders have been making significant inroads in the U.S. tech scene, but continue to face an uphill battle for capital – and, consequently, growth.
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This story was first published by Polsky Center of Entrepreneurship and Innvoation.
