After overcoming poverty, woman launches $500k scholarship fund to help Black women entrepreneurs

Meet Dr. Velma Trayham, an award-winning entrepreneur, author, speaker, and economic empowerment specialist who believes that inclusive, equitable businesses and communities are what drive prosperity.

Like several entrepreneurs, Trayham had a difficult upbringing. She was born into extreme poverty in Houston, Texas but emerged amidst the difficulties to become a successful entrepreneur and transformational thinker, Black News reports.

Owning to the challenges she faced growing up, the entrepreneur wants to uplift people in poverty and impact them with skills. To this end, she recently founded a $500,000 scholarship fund to support Black women entrepreneurs in the United States.

Trayham’s scholarship fund is part of her upcoming Millionaire Mastermind Entrepreneur Accelerator Program this spring and is also supported by her Millionaire Mastermind Academy and Thinkzilla Consulting Group, one of her companies.

“You can’t fix a problem if you don’t understand the culture, and I’m here to embrace leaders who are passionate about change,” she told ABC15’s Kaley O’Kelley last year after expanding her agency to Arizona. “It’s definitely time for a change, and I believe Arizona is a state that is embracing that change.”

Black News reports that the accelerator program has supported more than 7,000 women nationwide gain education on business operations. The accelerator program essentially provides extensive mentoring, business training, and access to funding growth opportunities for minority business owners, according to Trayham.

Her Millionaire Mastermind Academy has already awarded $60,000 in scholarships and more than $30,000 in seed funding to help women entrepreneurs succeed in business.

“We are thrilled to support even more women entrepreneurs in furthering their education to grow their businesses,” said Lexi Applequist, program coordinator for the Millionaire Mastermind Academy, according to Black News. “In our upcoming program, we look forward to bringing together minority women from across the country to take control of their financial futures and make a profound impact on their communities, families, and businesses.”

Trayham, according to her website, has created winning strategies for influential companies, boasting millions in monthly traffic visitors, and reaching multi-millions in revenue. As an entrepreneur, she has started, built, and sold several successful businesses.