New Program Accelerates Black Women Entrepreneurial Leaders

Diverse group of women in business
Listen

Over the past two years, the number of firms owned by Black women has soared by more than 160%.

During that same time, Shakenna Williams ’94, the director of global initiatives at Babson College’s Center for Women’s Entrepreneurial Leadership, has met with women of color across the country to discuss the challenges they face as entrepreneurs, and what they were looking for if they had access to an accelerator program.

What Williams discovered was a desire not only for greater access to capital, but also to mentorship, networking, platform opportunities, and entrepreneurship education.

These findings led to the establishment of the Black Women’s Entrepreneurial Leadership Program (BWEL), an accelerator that helps Black women entrepreneurs scale their businesses. Williams shared her journey leading up to the founding of BWEL in a presentation titled “Closing the Racial Wealth Gap” at the College’s Entrepreneurial Leadership Village winter series, a string of interactive sessions on values-based leadership with Babson experts and industry leaders.

Coaching, Mentoring, and Bonding

BWEL’s spring 2021 cohort kicks off its experience in February with a daylong symposium. The 12-week program features executive coaching and on-demand learning. Participants will not only learn how they can grow their venture but also develop camaraderie and sisterhood.

“The value of diversity and entrepreneurship is a pillar of Babson’s approach to entrepreneurial leadership,” said Vice President of Innovation D.R. Widder MBA’99.

Access to capital also remains an obstacle that BWEL has set out to eliminate. In 2019, on average, Black women-owned businesses earned just $24,000 in revenue, while non-minority, women-owned businesses earned $218,800, according to the American Express State of Women-Owned Businesses Report.

Reform could bring a monumental economic impact. If the average revenue of minority, women-owned businesses matched that of white, women-owned businesses, 4 million new jobs and $981 billion in revenue would be created.

“How do we move the needle to make sure these Black businesses are competitive and get full access to all resources?” Williams said. “We want to reach the women in underrepresented communities. Funding, we can do better.

“We are number one in entrepreneurship. I want Babson to be number one when it comes to Black entrepreneurs as well.”

Posted in Community

More from  »

Latest Stories

Side-by-side photos of the chair and the two students posing for a photo with the chair
From Text Prompt to Furniture: The Story Behind Babson’s AI Dam Chair With groundbreaking artificial intelligences advances, Vaness (Reece) Gardner ’26 and Cole Collins ’26 have created what is believed to be the first full-scale, AI-designed chair on a college campus.
By
Eric Beato
Editor / Writer
Eric Beato
Eric Beato is the Editor of Babson Thought & Action and Babson Magazine. A native of Chicago and a graduate of the University of Missouri School of Journalism, Eric has worked as an editor and writer at newspapers across the country, including the Chicago Sun-Times and Boston Herald. Eric joined Babson College in 2019 after working as the communications director for a private educational travel company and as the managing editor of six regional sports publications.
May 23, 2025

Posted in Community, Entrepreneurial Leadership, Outcomes

College president shakes hands with a student at the Commencement ceremony
Babson’s Graduates Remember the People Who Inspired Them In the final moments before Commencement, just before marching to the ceremony, Babson’s 2025 graduates reflected on their College journeys and the people who supported and inspired them.
By
John Crawford
Senior Journalist
John Crawford
A writer for Babson Thought & Action and the Babson Magazine, John Crawford has been telling the College’s entrepreneurial story for more than 15 years. Assignments for Babson have taken him from Rwanda to El Salvador, from the sweet-smelling factory of a Pennsylvania candy maker, to the stately Atlanta headquarters of an NFL owner, to the bustling office of a New York City fashion designer. Beyond his work for Babson, he has written articles and essays for The Philadelphia Inquirer, Notre Dame Magazine, The Good Men Project, and other publications. He can be found on Twitter, @crawfordwriter, where he tweets about climate change.
,
Hillary Chabot
Writer
Hillary Chabot
Hillary Chabot is a writer for Babson Thought & Action and Babson Magazine. An award-winning journalist, she is known for her insightful reporting and dedication to detailed storytelling. With a career spanning over two decades, she has covered a wide range of topics, from presidential campaigns and government policy to neighborhood issues and investigative series. As a reporter for The Boston Herald, Hillary earned a reputation for tenacity and integrity. Her work at Babson College fuels her passions—to learn something new every day and conduct thoughtful, empathic interviews. She’s thrilled to be at Babson College, where students, faculty, staff members and classes provide compelling copy daily.
May 22, 2025

Posted in Community

Teddy Sourlis holds a microphone while speaking at an event
LISTEN: Changing the Game: The Mind on Sports In Episode 6 of “From Problems to Possibilities,” two Babson College alumni and an expert in mental health philanthropy discuss how entrepreneurial leaders are making an impact at the intersection of sports and mental health.
By
May 21, 2025

Posted in Entrepreneurial Leadership, Insights