Cherokee women, entrepreneurs receive investments to grow businesses

TAHLEQUAH, Okla. - Cherokee Nation recently invested $10,000 into each of 10 women-owned, Cherokee companies in a partnership with The University of Tulsa to help Cherokee businesses thrive.

The Cherokee Women's AcceleratHER Fellowship, supported by the ayana Foundation, empowers businesses led by Cherokee women. The initiative includes a 12-week program and long-term support to launch, build and scale early-stage businesses.

"Native American women represent the lowest rates of business entrepreneurship across all groups," said Cherokee Nation Principal Chief Chuck Hoskin Jr. "This fellowship is an excellent means of beginning to address such an unacceptable statistic, while also pursuing the longtime mission of the tribe and its businesses of investing in the success of every Cherokee citizen."

Only about 14% of startups with a female founder received funding across all U.S. venture capital investments last year, according to Crunchbase data, which has tracked the trend since 2015. For companies with female-only founders, the rate of investment sinks to just 2%.

"Native American women often face unique challenges within the business community, including systemic disparities and lack of resources," said Kathy Taylor, program sponsor and former dean of The University of Tulsa's Collins College of Business. "We stand ready to change that statistic by providing a supportive platform for these talented entrepreneurs."

The recent cohort is the second sponsored by Cherokee Nation. Cohort participants visited the Cherokee Nation's capital last week, touring historic locations and meeting with Chief Hoskin and Cherokee Nation Secretary of State Shella Bowlin.

Companies represented in this year's cohort offer a range of services, targeting community needs like housing, improved health outcomes and infrastructure.

Kayla Palmer, founder of Palmer Construction and Marine Company, said the program taught her the importance of connecting to other entrepreneurs throughout the community.

"AcceleratHER reinforced the idea that entrepreneurship doesn't have to be a solo journey," Palmer said. "Through the program, I connected with fellow entrepreneurs, mentors and industry leaders who challenged my thinking, offered valuable advice and pushed me to take more significant risks."

Lesley Robinson, director of education at the ayana Foundation, said that by nurturing a diverse community of talented entrepreneurs, meaningful impact and innovation can occur.

"The TU Cherokee Women's AcceleratHER Fellowship is a testament to the commitment to fostering growth and success so that women founders can flourish."