Startup Talk: JPMorgan commits $75 million to increase access to capital for women, minorities and veteran-owned startups

Editor’s note: Each Thursday, Talk Business & Politics provides “Startup Talk,” a round-up of startup, technology and entrepreneurial news.

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JPMORGAN COMMITS $75 MILLION TO INCREASE ACCESS TO CAPITAL FOR WOMEN, MINORITIES AND VETERAN-OWNED STARTUPS

JPMorgan Chase said it is more than doubling the size of its global Small Business Forward program by committing $75 million over the next three years to support women, minority and veteran-owned small businesses. This includes a $1.9 million grant to the Association for Enterprise Opportunity (AEO) to support its programs to connect small business owners with alternative funding sources when they are unable to qualify for traditional loans.

According to JPMorgan, small businesses are growing fastest among people of color, particularly Latinas and African American women. Yet, despite their importance to the economy, research shows minority-owned businesses rely significantly more on investments of personal or family wealth than on outside debt or equity.

Launched in 2014, Small Business Forward is a global initiative developed by JPMorgan Chase to support small businesses with the potential to grow, offer quality employment, and create economic opportunity for vulnerable populations and their communities by facilitating access to flexible capital; seeding innovative new funds with trusted partners that support underrepresented businesses; extending entrepreneurial support systems to underserved entrepreneurs and neighborhoods; and expanding opportunities for diverse, women, and veteran founders within high-growth sectors.

GLOBAL PHONE SHIPMENTS GREW 6% IN 3Q, SAMSUNG LEADS DESPITE GALAXY NOTE 7 RECALL

Global smartphone shipments grew 6% annually to reach 375 million units in the third quarter, according to the latest research from Strategy Analytics. Samsung maintained first position with 20% global smartphone market share, while China-based OPPO grew 140% annually and was the standout performer.

Samsung shipped 75.3 million smartphones worldwide in Q3 2016, falling 10% annually from 83.8 million units in Q3 2015. This was Samsung’s slowest growth rate for almost two years as market share has dipped from 24% percent to 20% in the past year as the Galaxy Note 7 recall dented its brand image and left a large product gap in its premium smartphone lineup. Samsung will now be looking to its next flagship launch, such as the rumored Galaxy S8 model, to recover momentum in 2017.

Apple fell 5% annually and shipped a lackluster 45.5 million smartphones worldwide in Q3 2016. Apple’s global smartphone market share has softened from 14% to 12% in the past year. Apple has been given a slight boost by Samsung’s Note 7 missteps, but it continues to face iPhone fatigue among many consumers in major regions such as China and Europe.

Huawei maintained third position with 9% global smartphone market share in the third quarter, up from 8% a year ago. Huawei’s smartphone growth rate has more than halved, to 26% annually in Q3 2016, compared with 62% annual growth in Q3 2015. Huawei is facing intense competition from OPPO, Vivo and other emerging Chinese rivals such as fast-growing LeEco.

REPORT: 88% OF EMPLOYEES LACK THE AWARENESS NEEDED TO PREVENT COMMON CYBER INCIDENTS

The results of a new survey testing employee data privacy and cybersecurity knowledge reveal that 88% lack the awareness to stop preventable cyber incidents.

In “The 2016 State of Privacy and Security Awareness Report,” MediaPro revealed employee knowledge trends across eight risk domains, ranging from working remotely to identifying phishing attempts, and assigned three risk profiles indicating employees’ privacy and security awareness IQ. These risk profiles are Risk, Novice, and Hero, and are based on the number of proper behaviors correctly identified. The more correct behaviors an employee can identify, the less of a privacy or security risk they represent.

Key findings show that 72% of respondents were given a “Novice” profile, meaning they understand the basics but are dangerously close to one wrong decision or mistake leading to a security or privacy incident. Nearly 40% of respondents chose to discard a potential password hint in an unsecure manner rather than disposing of it by secure means.

MediaPro surveyed more than 1,000 employees across the U.S. to quantify the current state of privacy and security awareness. For the full results of the survey and to view an infographic, visit here.