In the realm of tech innovation, entrepreneur Farah Allen has a compelling story. Allen, the CEO and founder of The Labz, has journeyed from solving pressing issues in the music industry to revolutionizing interactive content creation.
From Music Innovation to Interactive Revolution
The Labz began with a unique mission: to protect the intellectual property of songwriters in the music industry through blockchain technology. However, despite solving a critical issue and gaining recognition from major industry players, the venture faced challenges far beyond technological barriers.
“It was very strange and very sad too because I reached the highest of the high of where I could go with it,” Allen said. “It wasn’t a problem with getting customers. It was a problem of funding the company. I was a technology company that didn’t have adequate funding.”
A 2018 Morgan Stanley sponsored study showed that investors believe minority businesses receive adequate capital. The 20-page study states that many white male investors have little contact with non-white or female business owners. These investors also report that women-owned and minority-owned businesses “receive a fraction of the capital, yet most believe that the funding landscape today is balanced.”
“So, there were a lot of microaggressions when it came to fundraising and me being an African American woman,” Allen said. “I had all these people who said this is great and I had all these customers, but of course, you can’t run a technology business without the funding to back it.”
The turning point came for Allen when the film industry saw immense value in The Labz’s collaborative tools and sparked a pivot that would redefine the platform’s purpose.
Under Allen’s leadership, The Labz evolved into an intuitive, no-code platform enabling users to transform static content into vibrant, interactive experiences. This capability became particularly crucial as organizations sought more immersive ways to host events and build communities online.
“We came to the point where the film industry wanted what we had built,” Allen said. “They loved the collaborative part of what we had designed, and during the COVID-19 pandemic, we actually got the film industry involved and started building tools that were more immersive for collaboration.”
Empowering Voices through Innovation and Equity
Allen’s trajectory has not been without its hurdles. The tech industry, notoriously challenging for Black female founders to navigate due to systemic barriers to funding and recognition, posed significant obstacles.
The establishment of ventures like the Fearless Fund, which focuses on supporting women- and minority-led startups, marks a critical shift toward a more equitable ecosystem.
“Fearless Fund is one of my biggest investors to date, and without them, I wouldn’t have been able to stay operational or have seen the growth with The Labz as you see it today,” Allen said.
With this critical funding, The Labz expanded its focus to include interactive events and virtual spaces.
“We’ve had tremendous growth with the biggest companies in the world using the platform, from Microsoft to Google, and Delta is one of our biggest customers,” Allen said. “They weren’t looking at me as just a Black woman. They are looking at me as an innovator and someone bringing something innovative to market.”
The Future of The Labz and Interactive Technology
Looking ahead, Allen envisions The Labz as the next big platform for creating immersive web experiences, akin to Canva for interactive content.
“I see a pathway to that. I’m closing a funding round right now that’s going to allow me to push the marketing and push the technology to the levels it needs to be so that it’s more accessible to everyone to use,” Allen said. “We’re taking over what a website used to be and saying, ‘Hey, if it’s not Labz, you’re not in the game.’”
Furthermore, Allen emphasizes the importance of embracing AI not with fear but as a tool to unlock unprecedented opportunities for efficiency, creativity and inclusivity.
“It’s all about knowledge and knowing how AI can benefit you by making things efficient,” Allen said. “Efficiency and converting people through engagement.”
Standing on the Shoulders of Others
Allen’s journey is a testament to resilience, and in her story, we find the essence of what it means to be a trailblazer, no matter the background.
“I think about my parents, Jamaican immigrants, and the strength it took for them to come to America and start over,” Allen said. “I think about those Black women in corporate America who became CIO and CTO. I got denied in corporate America too.
“So, I looked up to those people because I know the denial that exists,” she said.
With an amazing work ethic and gracious attitude, Allen focuses on the positive intersections of tech and equity.
“I can’t afford to think about the negative side of what’s going to prevent me from being successful,” Allen said. “I can only receive and be thankful for the support of folks that want to see me get there.”