Why black entrepreneurs flock to Martha’s Vineyard in August

Martha’s Vineyard has long been a summer vacation destination for black families, but August in the Massachusetts beach community also becomes an important hub for black entrepreneurs, investors and financial companies.

“I would say that the magic is really to present your network to someone else’s network,” said Calvin Butts, founder of East Chop Capital, a investment capital company named after a neighborhood on the island. “We have been very successful by increasing capital there, we also made our portfolio companies talk, we very well done the flow of transactions.”

A wide range of companies, including Disney,, Cisco,, Goldman Sachs,, McDonald’s,, Google,, FordMcKinsey and CNBC Parent Company Comcast Organize or sponsor events focused on companies on the vineyard this month.

The Black Economic Alliance is organizing an event entitled “The Gathering”, bringing together business leaders to discuss ways to help increase opportunities for black employees and businesses.

“The vineyard is a place to capture an audience that wants to have an intellectual and financial conversation on how to raise black culture,” said Melissa Bradley, general partner of the Bea Venture Fund.

Martha’s Vineyard became a popular vacation destination for black families over a century ago with the opening of the first hotel that allowed black visitors, Shearer Cottage, in 1912.

Since then, black families have bought houses and created a community centered on the city of Oak Bluffs and Inkwell Beach, a name that is a nod to segregation on the island in the past.

This year, the Ralph Lauren clothing brand has published its Oak Bluffs collection seeking to recognize and capitalize on the history and prestige of the island which welcomes visitors like Michelle and Barack Obama, Oprah Winfrey and Spike Lee.

Eden Bridgeman Sklenar, CEO of Ebony Magazine, is organizing an event with the founders of Brand Brand, the Black, said that it considered the vineyard as a way to give life to the history and the future of the magazine for its target audience.

“For Ebony, being present on the vineyard in August is both strategic and personal,” Sklenar said in a press release. “This is an opportunity to connect with a powerful cut of our community, to deepen significant relationships and to position the brand not only as a cultural icon, but as a modern company stimulating impact, visibility and growth.”

Donae Burston, founder of the Rosé festival, said that he also considered the appearance of the culture of the Martha vineyard community as an organic means of developing sales among a consumer base that aligns its marketing as a luxury brand.

“For us, it would mean so much to have the acceptance of people in the Martha vineyard,” said Burston. “Be able to go to Martha’s Vineyard and focus on [high-net-worth] Individuals from around the world who appreciate wine – it is visibility, it helps them to become evangelists to return home and spread the gospel. “”

For four generations, Erin Goldson and his family have spent summers in the Martha vineyard. This year, she launched a new event called “Vineyard Icon Awards”, sponsored by Diageo And ESTEE LAUDER. The winners are commercial and political leaders who help to shape August on the Martha vineyard as a place where culture and trade meet.

“Over the past five years, many companies realize that there is a richness of successful, accomplished and motivated black professionals, who decide to come to the vineyard in August,” said Goldson.

“You can come to the vineyard for rest and relaxation,” she said. “But every year here, there is also an increasing heritage, where black ambition and aspiration are celebrated in a very unique way.”

Disclosure: Comcast is the parent company of CNBC.