The New Majority – Fintech
Homemade – Food & Beverage, Tech Marketplace
Founder Name: Mackenzie Roy
Short description of the solution: Homemade in DC is an online marketplace that connects businesses with local food entrepreneurs. We offer corporate catering and custom gift boxes. All of this is sourced from local women, people of color and LGBTQIA+ entrepreneurs. In addition, the customer will receive an impact report that converts the food and gift budget already allocated to her DEI initiative.
New Majority makes it easy for everyday New Majority investors to invest directly in founders like themselves. In the long term, we plan to become the premier equity crowdfunding (and revenue-based fundraising) platform for New Majority founders and investors. daily investor. We also offer a free newsletter for those who want to keep learning and participating but are not ready to make their first investment. Poets & Quants Readers can get their first month free with a discount code: POETS&QUANTS Subscribe today!
DC Homemade – $65,000 (investment)
The New Majority – $6.5K (pitch competition)
What inspired you to launch this venture? Homemade – I used to bake and sell cinnamon rolls in my San Francisco kitchen and loved the idea of using the resources I already had (kitchen and proven recipes) to make an extra income. What began as a food incubator has evolved into today’s market offering catering and custom gift boxes.
The New Majority – For my master’s degree in public policy, I wrote a dissertation on the relationship between equity crowdfunding and rising rates of entrepreneurship among women and people of color. I spent months collecting data, running multiple regressions, and writing hours of statistically significant but very small effects on increased entrepreneurship and fundraising for women and people of color. From there, we decided, “Why should we wait for existing platforms to focus on this issue?” Plus, I always knew I wanted to invest in founders. We believe in building the company you think you need. Really, with equity crowdfunding, you don’t have to wait. Today, many people invest in these companies and start diversifying their portfolios so they can learn and refine what their personal investment themes are.
What’s your biggest accomplishment so far in your venture? Simply launching both is one of my greatest accomplishments. The leap into full-time entrepreneurship has been incredibly rewarding, fun, and difficult.
For Homemade, we are proud to have worked with 21 entrepreneurs to date. Of those, she is 19 female, 13 black, 3 Asian, 2 Latinx, and 2 LGBTQIA+ in her. And we’re very proud of the thousands of dollars we’ve added to their income statement. It’s also about how it helped me get through a month of
For The New Majority, my greatest accomplishment is the 3rd edition. We put together a monthly newsletter for both Investors’ Circle and our free subscribers. After conducting customer discovery interviews, we’ve made some major changes to the 3rd edition, and so far the response has been very positive. As we continue to build our community and build towards a complete platform, staying close to the New Majority founders and everyday investors we seek to connect with is key to our success. will become indispensable.
How has the MBA program helped you further this startup venture? McDonough was supportive, knowledgeable, and surrounded me with resources and people willing to help. Certain classes provided a framework and some tools to get you started (for example, building your first financial model and your first pitch deck). More generally, the classes she took with her MBA certificate in sustainable business, the work she did at Business for Impact, and the pitch contests and resources from Georgetown’s Entrepreneurship, all came from me. helped us get to where we are today. Additionally, through Business for Impact and Georgetown Entrepreneurship, I have been fortunate to work with several undergraduate and graduate students as interns at both Homemade and The New Majority. Up while also benefiting from their passion and fresh insights.
Who was the founder or entrepreneur who inspired you to start your own entrepreneurial journey? How did he or she motivate you? My mom was a great mom, founder and businesswoman who took the risk of quitting her corporate finance career to build her own company, Team CFO, from the ground up. She recognized the need for interim CFOs in small and medium-sized businesses and has used her unique set of skills to help hundreds of companies survive multiple recessions and thrive. She is part of the reason why both my businesses are about supporting other entrepreneurs. I truly believe it can be done. Me too.
Which MBA class was the most valuable in building your startup? What was the biggest lesson you learned from it? Startup Factory of Eric Koester and Entrepreneurial Finance and VC of Arun Gupta. Startup Factory was a pressure cooker week with over 100 customer interviews and a serious dive into the business model. This was a preview of what it’s like to be a founder and full-time entrepreneur. I am grateful to Professor Gupta for helping bring the case study to life and the experience he brings to the classroom. The investor-founder tensions and relationships we surveyed, as well as the technical details on cap tables, valuations, and term sheets, make it a comparison to many other founders building high-growth startups. This gave me a head start. This is especially valuable as a female founder of color given the very low funding rates for women and people of color. .
Who was the professor who contributed most to your project and why? Melissa Bradley. When I first heard the term “new majority” from Melissa, I nodded my head at how true it was, but fell to the floor that it was the first time I’d heard it. Having words to express ideas and realities is incredibly powerful, and that’s a big reason why we decided to call our company The New Majority. We both spotlight New Majority founders who have built incredibly influential and profitable businesses, opening doors to new investment opportunities for New Majority investors every day. I’m here.
For Homemade in DC, Melissa was a great mentorship role. She listened to her first iteration and helped us evolve to where we are today, both as a professor, mentor and investor!She is the girlfriend of her DC City Gov run by 1863 Ventures. encouraged me to apply for the IIEIF Fund. Without this funding, we wouldn’t be where we are today.
How has your local startup ecosystem contributed to the development and success of your venture? I attended DC Startup Week for the first time this year and it was incredible to see the energy and influence fostered with so many people who are part of this ecosystem. Shout out to the organizers who hope to become Homemade customers as we are all trying to support each other.
Additionally, she joined the Techstars Founder Catalyst program sponsored by JP Morgan and its Women on the Move team. Her cohort of 20 female founders in the DMV area has always kept me motivated, provided important feedback, and made lucrative referrals.
The energy here is growing with founders, especially female founders and founders of color. We bring together resources, knowledge and connections to build our company.
What are your startup’s long-term goals? Homemade in DC envisions Homemade for every city turbocharging with a focus on women, people of color and LGBTQIA+, emphasizing local food ecosystems. Food is a universal language. Through food markets, we want to build connections that strengthen local supply her chains, reduce global warming emissions, support small businesses and encourage new ones.
For New Majority, my goal is to build the first equity crowdfunding platform built and built for New Majority founders and everyday New Majority investors. Not only are these founders likely to build impactful businesses, but historically marginalized and underrepresented communities want to invest in each other and shape the world we live in. It is also a way to invest in a company and truly receive it. Benefits of doing so. This is one way of creating intergenerational wealth and bridging the racial and gender wealth gaps.
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