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For Fourth Consecutive Year, Wiggin Opportunity Initiative Donates $1M in Legal Services to Minority-Owned Businesses

July 23, 2024

For the fourth consecutive year, Wiggin and Dana LLP has provided over $1 million in free legal services to women and minority-owned businesses in communities across the United States through its Wiggin Opportunity Initiative (WOI). Wiggin and Dana launchedย WOIย in July 2020 to help address racial and economic injustices that were highlighted in the public conversation and events following George Floydโ€™s murder. The firm pledged to provide $10 million in free legal services to women and minority-owned businesses by 2030 to do its part in fueling the success of these businesses, encouraging their proliferation, and increasing diversity among business leaders.

By providing more than $4 million of legal services in its first four years, WOI remains ahead of schedule. Dozens of Wiggin and Danaโ€™s attorneys have participated in WOI matters on behalf of approximately 210 startups and other minority-owned businesses. WOI clients include organizations owned by individuals identifying as women, Black, Asian, Hispanic, LGBTQ and Iberian Peninsulan, as well as veterans, several of whom identify as members of multiple minority groups.

โ€œI am proud of all of the Wiggin team members who have provided free legal services to women and minority-owned businesses,โ€ said Tim Diemand, Wiggin and Danaโ€™s Managing Partner. โ€œWe remain committed to advancing the WOI program and look forward to seeing what we can accomplish over the next six years and beyond.โ€

While increasing awareness of the program has attracted more qualified venture-backable candidates seeking support, WOI also supports entrepreneurs of all sizes and aspirations, including those opening or operating coffee shops, hair salons, and other similar, community-oriented small businesses. Program clients include integrated software platform Nova Raft Business Advisors, hair care brand IVI Cosmetics, childrenโ€™s cooking class business Food Explorers, online marketplace Sustainable Planet/Health PlanEats, and menstrual product developer Sprxng.

Minority-owned businesses face heightened exposure to economic challenges. Last year, for example, the decline in capital to Black-founded companies greatly outpaced the overall startup funding decline, according to Crunchbase. Funding to Black-founded startups dropped a staggering 71%, while total venture dollars in the U.S. fell 37%. Black entrepreneurs secured $705 million in 2023, the first time since 2016 that the figure failed to reach $1 billion.

โ€œThe persistent gap in funding and support for minority-owned businesses requires hands-on, creative solutions. WOI drives real impact with a fresh take on pro bono that connects our strengths as a firm with the most pressing needs of entrepreneurs,โ€ saidย John Doroghazi, Wiggin and Dana litigation partner and WOI chair. โ€œBeyond its important results for clients, WOI enables increased exposure to minority entrepreneursโ€™ challenges in a way that boosts our attorneysโ€™ empathy, creativity and understanding of their role as client advocates. It also provides growth opportunities for many of our younger attorneys, allowing them to own client relationships independently.โ€

About Wiggin and Dana

Wiggin and Dana is a full-service law firm of highly talented, creative, and experienced lawyers dedicated to exceeding our clientsโ€™ expectations every day. With offices in Boston, Connecticut, New York, Philadelphia, Washington, DC and Florida, we represent clients throughout the United States and globally on a wide range of sophisticated and complex matters. From defending Fortune 500 institutions in โ€œbet-the-companyโ€ litigation, to helping the next generation of inventors bring new technologies to market, to preserving the wealth that a family business has worked so hard to create, we pride ourselves in offering value-driven solutions and results.

 

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