NAME OF ORGANISATION: Diversity Business Incubator
LOCATION: Devon
YEAR FOUNDED: 2018
ABOUT: Diversity Business Incubator (DBI) work with local businesses, including self-employed people and non-profit organisations to find the right guidance and support to help their business work smarter, develop and grow. They seek to improve the diversity of businesses in the South West and support diverse communities to engage with businesses and in the wider community, reducing inequality.
INVESTMENT AMOUNT: £100,000
DATE OF INVESTMENT: January 2022
SOURCE OF INVESTMENT: Health & Wellbeing Challenge Fund (South West)
IMPACT: Education & Learning, Work & Employment
ABOUT: In response to finding only a small number of businesses with ethnically diverse leadership in Plymouth and having the need to help newly settled BAMEs start-up businesses, DBI co-founders merged their passion and entrepreneurial ideas into creating a business incubation hub where everyone could get help with starting and growing a business.
Following many months in their own incubation centre, the founders Jabo Butera and David Feindouno formally set up Diversity Business Incubator on January 10th 2018. Their primary goal to aid both established and aspiring entrepreneurs, focusing on supporting the minority ethnicity community.
PURPOSE OF INVESTMENT: The investment helped DBI to develop their infrastructure, manage their development costs, and acted as working capital during their growth phase.
DBI said: “The investment is allowing us to have enough oxygen in our lungs and be able to increase our social impact in the BAME communities in the South West. Those who come across our services through the different hubs we have in Plymouth have rediscovered their voices and their identities. The sense of belonging, hence the reason of living is palpable to all and we are so looking forward to the future as the impacts start to bear fruits.”
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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