Bootstrapping Billions: How Black and African Entrepreneurs Are Building Outside the VC Machine
Cassels grants $700K to Canadian Black founders, ClapMi raises $20K for African creator economy valued at $29.8B by 2032, Fanbase closes equity crowdfunding round | Wed., December 17, 2025 | Issue #4
Today’s news celebrates entrepreneurs who refused to wait for traditional venture capital—and governments making strategic moves to attract global business participation.
From Canadian Black-owned businesses winning $100K in grants to African creators building a $29.8 billion economy without Wall Street, to a Black-founded creator platform mobilizing 29,000 community investors in equity crowdfunding, to South Africa signaling critical minerals opportunities, the emerging narrative is clear: the most dynamic founders are building outside legacy capital systems, while African nations are actively positioning for diaspora investment.
Here’s what moved today.
TOP STORIES
Cassels Announces 2025 Black-Owned Business Grants: $100K Distributed Across Canada
Cassels, a Toronto-based law firm, announced today the recipients of its 2025 Black-Owned Small Business Grant—now in its sixth year and totaling $700,000 in cumulative support across three Canadian cities: Toronto, Vancouver, and Calgary.
This year’s five recipients collectively receive nearly $100,000 in grants plus pro bono legal services:
Kiwi Charge (Toronto, ON): Robotics-based EV charging company addressing high ownership costs and limited charging access
Platuni (Vancouver, BC): AI-powered platform matching students, young professionals, and newcomers with compatible housemates
Cellect (Toronto, ON): Nanotechnology-powered menstrual product for non-invasive reproductive health screening (HPV, cervical cancer, STDs)
Teeztopcakes (Calgary, AB): Luxury baked goods blending Nigerian and Canadian influences
The Y Variable (Vancouver, BC): Career and professional development strategy company for Gen Z transitioning from classroom to workplace
Co-Chair Kori Williams framed the grants explicitly: “This year’s recipients are building strong, resilient businesses while advancing sustainability, creating inclusive services, and supporting underserved groups across the country.”
Why it matters: Non-dilutive capital (grants + pro bono legal services) is increasingly the foundation for Black-owned business sustainability. Unlike venture capital, grants don’t require equity dilution, exit timelines, or venture-compatible business models.
For Black entrepreneurs, this model is proving more aligned with long-term ownership, community impact, and autonomy.
The Cassels initiative also signals corporate willingness to provide strategic legal support—an often-overlooked bottleneck for early-stage Black founders.
ClapMi Secures $20,000 Lisk Grant to Scale Africa’s First Competitive Livestreaming Platform
African creator-tech startup ClapMi announced today it has secured a $20,000 innovation grant from Lisk through the Aya × Lisk Incubation Programme, accelerating development of what it describes as Africa’s first competitive livestreaming platform built for performance-based creator monetization.
The Platform & Market Opportunity
Projected market: Africa’s creator economy is valued at $5.1 billion in 2025 and is projected to reach $29.8 billion by 2032 at a 28.7% compound annual growth rate
Problem it solves: Over 50% of African creators earn less than $60 per month due to opaque payout systems and algorithm-driven visibility
ClapMi’s model: Real-time, head-to-head creator competitions where earnings are tied directly to performance, audience engagement, and outcomes
Blockchain infrastructure: Hybrid Web2/Web3 architecture with on-chain vote tracking and transparent payouts across Solana, Lisk, and BEP-20
Early traction: Since launching in August 2025, ClapMi has hosted 150+ livestreams, attracted 6,000+ active users, and distributed $1,000+ directly to creators and fans
The $20,000 grant will fund
Enhancements to blockchain-enabled payment systems
Strengthened competitive livestream engine
Development of a dedicated mobile app (launching soon)
Why it matters: Africa’s creator economy is being built by Africans, for Africans—and it’s attracting real institutional capital.
ClapMi’s model (transparent, performance-based, blockchain-secured payouts) addresses a structural gap that traditional social platforms and livestream platforms have ignored.
For diaspora investors, tech entrepreneurs, and ecosystem builders, this validates that African entertainment and creator IP is becoming a primary wealth-creation pathway.
The competitive livestream format also mirrors the energy and cultural preferences of African audiences—suggesting locally-built platforms may outcompete US-centric alternatives.
Fanbase Closes Equity Crowdfunding Round TODAY—29,000+ Community Investors Back Creator Ownership
Fanbase, the Atlanta-based creator-first social platform founded by Isaac Hayes III, is closing its current equity crowdfunding round TODAY, Wednesday, December 17, 2025—marking the final opportunity for public investors to participate before the company transitions fully into execution and scaling mode.
The Numbers & Community Mobilization
29,000+ community investors have already backed the round
Tens of thousands of creators and supporters have invested
Fanbase is raising on StartEngine (Reg A+ offering) at a critical valuation point for creators and everyday investors
This represents one of the largest creator-focused equity crowdfunding campaigns
Platform Momentum in 2025
1.4M users (35% growth from 2023)
Full product redesign: Faster posting, clearer navigation, intuitive discovery, easier monetization access from day one
Multi-format ecosystem: Photos, videos, Stories, Flickz (reels), Lives, and Audio Rooms
No minimum follower threshold or advertising-model dependence—creators earn immediately through subscriptions, microtransactions, and community engagement
Pocstock partnership: Creators now earn compensation for content used in AI training—addressing AI bias by ensuring creators of color contribute to and are compensated for AI model training
Founder’s Vision (Isaac Hayes III)
“We are witnessing a structural change in social media and television. Ownership is no longer reserved for corporations alone. The public now has access to the future of media distribution itself. As consolidation accelerates across the industry, Fanbase is intentionally building a new option, one that centers community, creator economics, and long-term ownership.”
Why it matters: Fanbase represents a watershed moment for Black and African creator economies.
Rather than creators being content suppliers to extractive platforms (TikTok, Instagram), Fanbase enables ownership, revenue participation, and governance.
The 29,000 community investors backing this raise include creators, supporters, and everyday people believing in creator ownership—validating a thesis that venture capital gatekeepers ignored.
For Black creators, this is particularly urgent: AI training, content ownership, and revenue models are being determined right now. Fanbase’s pocstock partnership ensures Black creators help shape AI models rather than being exploited by them.
The round closes today—creators and allies who want exposure to this infrastructure should act immediately.
NiDCOM and DOWA Announce Diaspora Startup Challenge Winner Tomorrow—$6,250+ Prize + Lagos Pitch Event
Nigeria’s Nigerians in Diaspora Commission (NiDCOM) and Doing Good Work in Africa (DOWA) are announcing the winner of the Connected Diaspora × DOWA Startup Challenge tomorrow, December 18, 2025, themed “Building, Breaking and Believing in Nigeria”—designed to surface and fund diaspora-led tech innovation targeting Nigerian challenges.
Prize & Opportunity Structure
1st Place: ₦1,000,000 (~$6,250 USD equivalent)
2nd Place: ₦500,000 (~$3,125 USD)
3rd Place: ₦300,000 (~$1,875 USD)
Additional opportunities:
Guaranteed presentation at ConnectED Diaspora “Building, Breaking & Believing” event (Dec 19, 2025)
Access to DOWA × ConnectED Diaspora × NiDCOM networks and partners
Guaranteed spot in 2026 in-person Summer Internship with a Tech Organization
Timeline
Applications closed: December 7, 2025
Voting window: December 13-17, 2025 (public Instagram poll)
Winner announcement: December 18, 2025 (tomorrow)
First-place pitch presentation: December 19, 2025 (in-person in Lagos)
Connected Diaspora Flagship Event: December 19, 2025 in Lagos—bringing together entrepreneurs, policymakers, investors, and tech leaders with Lagos Deputy Governor Dr Kadiri Obafemi Hamzat as Special Guest of Honour
Why it matters: This challenge explicitly mobilizes diaspora capital and expertise for African development—a recognition that diaspora networks are primary wealth and innovation channels.
For diaspora entrepreneurs, this validates that governments are now actively creating pathways for return, investment, and partnership.
The tight timeline (winner announced Dec 18, presenting Dec 19) suggests high-priority government commitment to fast-tracking diaspora deals.
BLACK FOUNDER SPOTLIGHT
“No One Is Coming to Rescue You”: Black Founder Tyler Smith Shares Bootstrapping Path to $80M Exit, Now Launching Longevity Platform
In an in-depth interview released this week in Forbes, Black entrepreneur Tyler Smith reflected on bootstrapping his real estate tech company SkySlope to $12 million in annual revenue without external funding—eventually selling a stake to Fidelity National Financial for approximately $80 million—and his current mission to democratize healthcare through Hundred Health, a longevity platform he built self-funded and priced at $499/year.
Smith’s Key Lessons on Bootstrapping vs. VC
Discipline & Clarity: “When you’re using your own funds, each decision weighs more heavily. You quickly discern what truly matters, what is just noise, and how to outperform better-funded rivals.”
Ownership & Vision: “I aimed to develop the business with customers in mind, not through committee consensus. Bootstrapping required us to maintain focus, accelerate progress, and ensure accountability.”
Team Over Hero: “The biggest mistake at SkySlope was attempting to do everything solo. Companies scale through collective effort. Everything shifted when I stopped trying to be the hero and built a team capable of moving faster than I could.”
Customer Obsession: “Momentum resolves more issues than striving for perfection ever could.”
On VC Dynamics: When asked what he’d change about the VC industry, Smith said: “Less reliance on pattern recognition and more emphasis on original thought. Innovation stagnates when everyone funds the same type of founder.”
Smith’s Current Work - Hundred Health
Smith integrates medical records, lab results, and wearable device data to create personalized “100-day protocols” guiding diet, exercise, and supplementation.
For an annual fee of $499, users gain access to 160+ lab tests and continuous health monitoring.
Smith framed healthcare as currently “restricted to the wealthy” and built Hundred Health to “democratize what is only available to those who can afford private medical care.”
Market Context: Bank of America analysts value the longevity sector at $600 billion currently, with UBS forecasting it could reach $8 trillion within four years as artificial intelligence advances accelerate.
Personal Motivation: Smith’s father died of a heart attack at 47. When Smith underwent biological age testing in his late 30s and received the same biological age of 47, he was motivated to pursue preventive health optimization.
He eventually reversed his biological age by 15 years through personalized protocols—and built Hundred Health to make that level of healthcare access available to everyone, not just the wealthy.
Why it matters: Smith’s trajectory—bootstrapping to success, taking strategic partnership/acquisition with equity retention, then founding again—represents an alternative founder path that Black entrepreneurs should study.
His explicit rejection of VC and emphasis on customer-first execution challenges narratives that VC is the only path to scale.
This also signals that Black founders are increasingly founding in healthcare, longevity, and consumer health—high-margin sectors historically inaccessible to Black capital.
His success in real estate tech and current focus on healthcare demonstrates how domain expertise and customer obsession can outcompete venture-backed competitors.
BLACK AMERICAN ENTREPRENEURSHIP
HBCU Legacy Fashion: How One Entrepreneur Turned Pandemic Downtime Into a Cultural Movement
Cheylaina Fultz, a third-generation HBCU alumna, launched HBCU Legacy Fashion during the COVID-19 pandemic when her wedding and event planning business halted due to lockdowns.
The brand has since become recognized in retail spaces and online, built on a thesis that clothing can bridge generational pride, legacy, and cultural empowerment.
The Brand’s Philosophy & Product
Mission: Create quality, durable apparel intended to be passed down across generations—rejecting fast-fashion collegiate merchandise
Product range: Adult and children’s clothing, from Hampton Women’s Silver Sequin Bomber ($120) to Florida A&M Black Denim Jacket ($120) to Howard “HU” Youth Crewneck ($50)
Audience: HBCU graduates, current students, families eager to represent their institutions, and Divine Nine organizations
Fultz’s approach extends beyond retail: she travels to schools and community events to educate about HBCU history, value, and impact, leveraging her platform to inspire future generations about higher education pathways.
Why it matters: Black entrepreneurship increasingly blends commerce with cultural education and community impact. HBCU Legacy Fashion represents a segment of Black founders building mission-aligned businesses that generate revenue while strengthening community identity.
This is particularly relevant as Gen Z consumers prioritize cultural authenticity and brand alignment with values.
Her work also validates the broader shift toward founder-led education and community engagement as a competitive moat—building brand loyalty beyond product features alone.
POLICY & ECOSYSTEM
South Africa Approves “Growth and Inclusion” Implementation Plan—Critical for Regional Business Expansion
South Africa’s Cabinet approved today a comprehensive “Implementation Plan to Drive Growth and Inclusion” targeting the 2024-2029 period, anchored in three core pillars:
(1) Economic reforms to fix fundamentals;
(2) Public service reforms to build effective delivery;
(3) Industrial Policy reforms to pursue new growth areas.
Key Cabinet Approvals Released Today
Critical Minerals Strategy Implementation Plan: Cabinet approved a detailed roadmap to leverage opportunities in mineral wealth, with specific focus on applications in digital technology, defense, healthcare, consumer electronics, and electric vehicles. The plan emphasizes Black and African business participation in critical minerals value chains.
Eskom Turnaround Gains Momentum: Eskom recorded R24.3 billion profit after tax (37% higher than same period 2024), marking continuing operational and financial improvement—signaling energy stability for business operations.
GDP Growth & Economic Momentum: South Africa’s economy recorded 0.5% growth in Q3 2025 (fourth consecutive quarter of expansion), driven by mining, agriculture, services, and manufacturing—creating tailwinds for business expansion.
Tourism Growth Partnership Plan 2025-2030: Cabinet approved a five-year inclusive tourism framework targeting sustainable job creation, rural value capture, and community benefits—relevant for hospitality, logistics, and services entrepreneurs.
Why it matters: For Black American and African business leaders looking to expand into South Africa or East/Southern Africa, this Cabinet approval signals government commitment to structural economic reform and critical minerals development.
The Critical Minerals Strategy creates specific opportunities for US and diaspora firms to partner in supply chains feeding digital, defense, and EV sectors. Eskom’s financial recovery improves operational predictability for energy-dependent businesses.
Tourism growth targets create B2B opportunities in accommodation, logistics, and services.
Most importantly, South Africa’s focus on “growth and inclusion” suggests policy openness to Black and women-led business participation in these sectors.
OPPORTUNITIES & DEADLINES
Immediate Actions (December)
Fanbase Equity Crowdfunding Round: CLOSES TODAY (December 17, 2025)—29,000+ investors already backing creator ownership. Final opportunity to invest before shift to execution phase.
NiDCOM/DOWA Startup Challenge Winner Announcement: December 18, 2025 (tomorrow)
Connected Diaspora Flagship Event + Pitch Presentations: December 19, 2025 (Lagos)
Cisco Youth Leadership Award – Global Citizen Prize 2026: December 17, 2025 DEADLINE (today)
Africa Impact Fundraising (AIF) Grant Program: December 16, 2025 deadline for African nonprofits and social enterprises to strengthen fundraising capacity; access to up to $5K matching grants
Rolling/Ongoing
Cassels Black-Owned Small Business Grant: Annual cycle (next cohort in 2026)
1 Million Black Businesses (1MBB): Ongoing mentorship and capital connection
Black Entrepreneurship Program (Canada): Southern Ontario applications due January 9, 2026
Orange Corners Innovation Fund (OCIF) GROW Programme: South Africa—Funding R200K-R1M (50% grant/50% interest-free loan) for youth entrepreneurs aged 18-35. Deadline December 31, 2025
HBCU Legacy Fashion & Similar Mission-Aligned Brands: Direct-to-consumer and retail expansion ongoing
Q1 2026
Black Ambition Prize: Opens February 24, 2025 (up to $1M)
Google for Startups Black Founders Fund: Q2 2025 (up to $100K + cloud credits)
FROM THE EDITOR
The most honest lesson from today’s news: venture capital was never the only path—it was just the loudest one. Cassels has distributed $700K to Canadian Black founders over six years without VC involvement.
ClapMi is building a $29.8B creator economy with $20K at a time. Tyler Smith bootstrapped to $80M without “getting permission” from institutional investors. NiDCOM is mobilizing diaspora capital more effectively than any Silicon Valley fund could.
And Fanbase just proved that 29,000 everyday investors—creators, supporters, believers—will fund the future when legacy structures fail them. Meanwhile, South Africa’s Cabinet is actively signaling openness to diaspora and Black business participation in critical minerals, tourism, and economic growth initiatives.
The question isn’t whether Black and African entrepreneurs can build without traditional VC. It’s whether we’re willing to learn from the paths that work—grants, diaspora networks, customer revenue, strategic partnerships, community equity crowdfunding—and stop measuring success only against venture outcomes.
The future of Black wealth is being built by founders who refused to wait. Fanbase’s round closes today. If you believe in creator ownership, in AI trained by creators of color, in platforms built for us—this is your moment.
What’s your path?
Seeing something we missed?
Reply with stories, data, or insights relevant to Black American and African business leaders.
Forward to a colleague choosing their path.
THE DAILY PULSE is for founders building on their own terms.
See you tomorrow.
SOURCES
Cassels Black-Owned Small Business Grants
Recipients of the Cassels Black-Owned Small Business Grant for 2025 announced – Cassels (Dec 16, 2025)
https://cassels.com/latest_news/recipients-of-the-cassels-black-owned-small-business-grant-for-2025-announced
ClapMi Lisk Grant
African Creator-Tech Startup ClapMi Secures $20,000 Lisk Grant – Punch Newspapers (Dec 16, 2025)
https://punchng.com/startup-secures-20000-innovation-grant/
ClapMi secures Lisk’s grant to expand Africa’s competitive livestream ecosystem – Business Day (Dec 14, 2025)
https://businessday.ng/life/article/clapmi-secures-lisks-grant-to-expand-africas-competitive-livestream-ecosystem
Africa Creator Economy Market Size – Coherent MI (April 9, 2025)
https://www.coherentmi.com/industry-reports/africa-creator-economy-market
Fanbase Equity Crowdfunding
Fanbase to Close Its Current Equity Crowdfunding Round – PRNewswire (Dec 15, 2025)
https://www.prnewswire.com/news-releases/fanbase-to-close-its-current-equity-crowdfunding-round-302642633.html
Fanbase to Close Its Current Equity Crowdfunding Round – Benzinga (Dec 15, 2025)
https://www.benzinga.com/pressreleases/25/12/n49405643/fanbase-to-close-its-current-equity-crowdfunding-round
Fanbase and pocstock Strike Landmark Deal to Pay Creators for Training AI Models – Urban Geekz (Dec 2, 2025)
https://urbangeekz.com/2025/11/fanbase-and-pocstock-strike-landmark-deal-to-pay-creators-for-training-ai-models/
Invest in Fanbase – StartEngine (Live)
https://www.startengine.com/offering/fanbase
NiDCOM/DOWA Diaspora Startup Challenge
NIDCOM Launches Diaspora Startup Challenge, Announces 2025 Event – TVC News (Dec 2, 2025)
https://www.tvcnews.tv/nidcom-launches-diaspora-startup-challenge-announces-2025-event
NiDCOM Unveils Diaspora Startup Challenge and Flagship Event 2025 – NiDCOM (Dec 1, 2025)
https://nidcom.gov.ng/nidcom-unveils-diaspora-startup-challenge-and-flagship-event-2025
DOWA Startup Challenge 2025 – DOWA Official Site (Dec 12, 2025)
https://www.dowafrica.org/startup-challenge-2025
Tyler Smith Bootstrapping Journey
After Bootstrapping To An $80M Acquisition, This Entrepreneur Is Tackling Healthcare – Forbes (Dec 16, 2025)
https://www.forbes.com/sites/eshachhabra/2025/12/16/after-bootstrapping-to-an-80m-acquisition-this-entrepreneur-is-tackling-heal
HBCU Legacy Fashion
Turning School Spirit Into Style: Inside HBCU Legacy Fashion – Essence (Dec 16, 2025)
https://www.essence.com/news/money-career/entrepreneurship/hbcu-legacy-fashion
HBCU Alumna builds fashion brand celebrating school pride and heritage – FashionUnited (Dec 16, 2025)
https://fashionunited.com/education/schools/hbcu-alumna-builds-fashion-brand-celebrating-school-pride-and-heritage/2025121769693
South Africa Growth and Inclusion Plan
Statement on the Cabinet meeting of 5 December 2025 – GCIS (Government Communication and Information System) (Dec 4, 2025)
https://www.gcis.gov.za/statement-on-the-cabinet-meeting-of-5-december-2025