According to the U.S Census Bureau, 1 out of 6 Americans is Hispanic. The number is expected to rise to 1 in every 3 by 2060. Hispanic owned businesses are also having a 40% growth rate, with the number of Hispanic entrepreneurs also on the rise.
With the immigrants being twice as likely to venture into entrepreneurship compared to the native-born Americans, it is not surprising to see the failure rates of Hispanic owned startups being high. But there have been significant stories too allover America including California. This article list the top five California-based Hispanic Entrepreneurs that have notable success stories away from home.
Maria Contreras-Sweet, Founder Of ProAmerica Bank
The former Administrator of the US Small Business Administration worked for the speaker of the California Assembly before Launching ProAmerica bank, the first Latino owned commercial bank in America for over 35 years. The bank now has a market cap of $4.5 million.
Maria also founded Contreras-Sweet Enterprises, a marketing and research firm that serves notable clients such as The Coca-Cola Company, Pacific Gas, and Walt Disney Company. She is currently a board member of the Regional Management Corp and Sempra Energy.
He is the CEO and President of PG&E leads. It is one of the largest natural gas and electric energy company in the United States. The company has employed more than 20,000 people and serves Nothern and Central California with the cleanest energy.
Dawn C. Valdivia
Valdivia is the chair of the Quarles & Brady’s Labor and Employment Group in Phoenix. Her work is to advise clients on issues related to labor and employment law. The company is also based in Arizona and California. Valdivia is committed to providing creative solutions to her clients and giving back to the community.
Martha de la Torre
Martha is the founder of El Clasificado, an LA-based company that she established in 1988. The company has grown over the years due to its strengthened relationship with the Latino population in California.
Her business website, ElClasificado.com received 25 million monthly visitors and the business distributes half a million print copies every week. El Clasificado is a multi-media company that provides advertising solutions in print, online, and at events.
Jordi Munoz, founder of 3D Robotics
In 2007, Munoz hacked the sensors on the controller of his Nintendo Wii and wrote some codes. As a result, the first autopilot drone was invented. He uploaded the video on Chris Anderson’s blog, “DIY Drones.”
Chris was so impressed that he sent Munoz $500 to support his work. Munoz used the funds to buy equipment and set up an online shop where he sold the drone to the fans.
In 2009, the two founded 3D robotics which made $5 million revenue by 2011 when they met face to face for the first time. It has now raised more than $90 million in venture capital and has more than 180 employees in North America, servicing over 30,000 clients.