ConWilmington-based startup incubator tekMountain is investing $50,000 as part of a partnership with Genesis Block, a coworking and collaboration initiative that is developing a technology platform to promote Black entrepreneurs and small businesses.  

According to a news release, the new platform will help identify Black-owned businesses regionally, provide collaborative resources and tools for entrepreneurs and provide index information for companies and organizations that want to collaborate with Black-owned businesses.

“The GDP purchasing power of Blacks in the United States is estimated at over 1.25 trillion dollars, but only 2% ($2.4 billion) is spent with Black businesses,” said Genesis Block co-founder Girard Newkirk in the release. “Genesis Block’s strategy is to focus on closing this gap through economic development, community collaboration and technology.”

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