{"id":4750,"date":"2022-02-27T12:33:19","date_gmt":"2022-02-27T17:33:19","guid":{"rendered":"https:\/\/toyznation.com\/?p=4750"},"modified":"2022-02-27T12:39:23","modified_gmt":"2022-02-27T17:39:23","slug":"richard-king-mellon-invests-in-black-founded-ed-tech-startup-toyz-electronics","status":"publish","type":"post","link":"https:\/\/toyznation.com\/?p=4750","title":{"rendered":"Richard King Mellon Invests in Black Founded Ed-Tech Startup Toyz Electronics"},"content":{"rendered":"\n

PITTSBURGH, Feb. 7, 2022 \/PRNewswire\/ — RK Mellon Foundation makes a project-related investment in a Black father-son-led company<\/a> that aims to increase diversity in STEAM fields so disadvantaged populations are included in the future of work. Damola and Wole Idowu – engineers, creatives, educators, and entrepreneurs – founded Toyz Electronics at Carnegie Mellon University’s Swartz Center for Entrepreneurship in Pittsburgh, Pennsylvania.<\/p>\n\n\n\n

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Toyz Electronics with high school students during a workshop at the Swartz Center of Entrepreneurship<\/figcaption><\/figure>\n\n\n\n
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Screenshot of Dah-Varsity App<\/figcaption><\/figure>\n\n\n\n

Using its Social-Impact Investment Program, the Richard King Mellon Foundation<\/a> invests in for-profit companies looking to accomplish a public good that aligns with its Strategic Plan. These investments are known as Program-Related Investments. The Convertible note investment leads a $500,000 seed round for Toyz Electronics and provides resources for:<\/p>\n\n\n\n