Press Release 03.29.22
Pillsbury Sponsors Black Girl Ventures’ Shark Tank-Style Pitch Competition
Live crowdfunding competition democratizes fundraising for women founders of color
Service
BOSS Lab
Contacts
Stacie D. Yee
Partner and General Counsel, Los Angeles
T: +1.213.488.7558
stacie.yee@pillsburylaw.com
As part of our commitment to help increase access and opportunity for Black-owned startups, Pillsbury formed the Black-Owned Startup Support (BOSS) Lab to address the systemic inequities that have resulted in Black founders representing only 1 percent of venture-backed startups.
With the BOSS Lab, Pillsbury is choosing deeds over declarations. Within BOSS Lab’s first year, our expansive team of highly regarded Emerging Companies and Venture Capital lawyers and colleagues in complementary practices will provide considerable volunteer legal and advisory services to up to 50 innovative startups with high-growth potential. Our mission is to help reimagine the startup environment by partnering with Black founders to support their businesses and provide access to the additional tools, knowledge and networks necessary to secure funding and position their companies for long-term success.
For up to 50 Black-owned startups, we will offer an initial commitment that includes services valued up to $20,000 such as:
- Our startup advisory package for companies not yet formed or a legal audit, cleanup and restructuring as appropriate for already-formed companies
- Strategic, forward-looking legal and commercial advice tailored to the needs of each company
- Introductions and connector services to assist the startup’s founders in navigating their market and the funding ecosystem
- Access to our BOSS Lab network, which can help supplement the company’s existing team with the goal of obtaining seed-stage and venture funding
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Beyond this initial package, we commit to engaging even further with select BOSS Lab startups each year to provide deeply discounted and fee-deferred services and continued access to the BOSS Lab Advisory Board’s resources, referrals and assistance. Overall, Pillsbury expects to provide up to $2 million in legal services to BOSS Lab companies within one year.
BOSS Lab startup candidates will be vetted through a brief screening process which will consider whether the startup is led by at least one Black principal founder in the U.S. or the UK, among other eligibility qualifications. Pillsbury will then meet with qualifying startups to further discuss their business and objectives. Upon acceptance to the BOSS Lab, each startup will work with a dedicated Pillsbury team that will deliver the program’s services with the goal of helping them secure significant funding. We also intend to offer access to Pillsbury’s pro bono capabilities to suitable companies that may not be a fit for the BOSS Lab.
Webinars and Podcasts
BOSS Lab Co-Leaders
Riaz A. Karamali
Partner
Our goal is to act as a catalyst in the startup ecosystem, engaging with Black entrepreneurs and emerging company investors and advisors to drive a positive change in outcomes for all.
Stacie D. Yee
Partner and General Counsel
Using our award-winning capabilities to support Black-owned startups, promote their ideas and connect them to influence and funding can truly help move the needle for Black founders.