Vast Bank Supports Black Entrepreneurship through ACT Tulsa
Vast Bank is proud to announce its financial support of the ACT Tulsa with a combined donation of $1.1 million from the Biolchini family and Vast Bank.
ACT Tulsa seeks to address the major discrepancies that exist for women and people of color when starting a venture. For example, Black founders receive roughly 1 percent of venture capital funding and only 2 percent of venture capitalists are Black.
ACT Tulsa is a 6-month cohort-driven accelerator program aimed at cultivating and driving innovation of underrepresented founders located in Tulsa and beyond. Designed as an accelerator that encompasses three months of incubation and three months of implementation, this program is designed to equip founders with skills, tools and a network to accelerate the foundational growth of their companies.
Vast Bank, which lies in the heart of the historic Greenwood District, home to Black Wall Street, has worked to identify the most impactful ways to support Black entrepreneurs to carry forward the rich legacy of Greenwood. The bank’s leadership is proud to serve the business owners in the Greenwood District and is honored to offer support of ACT Tulsa.
“Investing in ACT Tulsa was an easy decision for us,” said Vast Bank Chairman Tom Biolchini. “As the Tulsa community marks the centennial of the horrific attack on Black Wall Street, we wanted to do everything we could to back today’s Black entrepreneurs who have the talent and innovation to make incredible things happen.”
May 31, 2021 marks 100 years since the destruction of Greenwood, once the most wealthy Black community in the country and dubbed “Black Wall Street.” The Tulsa community will commemorate the solemn anniversary with a variety of events from late May through June. Greenwood Rising, a history center dedicated to educating the world about Black Wall Street and the Tulsa Race Massacre, will open in early July.
About Vast Bank
Vast Bank has built its legacy on personal service, strength, and integrity. With bold leadership and a renewed commitment to customer-centricity, Vast is building on its past to create a future based on new ideas, world-class technology, and a winning culture to delight customers through simplicity and control. Family-owned and based in Tulsa, Oklahoma, Vast Bank has served its customers since 1982.