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Lending a hand to minorities in the search for VC backup

This story appears in the November 2002 issue of Entrepreneur. Subscribe »

Getting venture capital is never easy. But getting venture capital when you have a minority-owned business? That presents a whole new set of challenges, according to James Moore, managing director of Emerging Venture Network (EVN), a nonprofit organization formed to help connect minority entrepreneurs with funding sources.

The biggest obstacles facing minority entrepreneurs, says Moore, are access and experience. "[VCs] get [about] 100 business plans a month-and the ones they look at come from people they know," he says. Unless you're in that network-part of a VC's Harvard class or a member of one of the associations he belongs to-the VC probably won't look at your plan.

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