Rey Ramsey takes on role as AT&T’s 28 Days program influencer

reyramsey
Photo credit: Press photo

Rey Ramsey may hold the title as managing partner of Next Sector Capital, but the new economy has deemed him a “social justice entrepreneur.” He’s also acted as chairman of Habitat for Humanity International, the former CEO of TechNet and co-founded One Economy, which promotes technology usage to improve low-income standards of living.


Ramsey has worked on a variety of business endeavors in the technology industry, but his primary focus is to invest in companies and provide funding for emerging entrepreneurs to promote positive social change in the community. While Ramsey is busy facilitating interconnectivity programming, his hard work isn’t going unnoticed. In celebration of Black History Month, AT&T has unleashed 28 Days to demonstrate its commitment to improve the lives of African Americans in both their personal and professional lives through technological advancements.


Ramsey was recently brought on as one of the program’s influencers. He spoke to rolling out to fill us in on what the position entails, his newest investments and his latest project developments.

Why did you agree to be an AT&T’s 28 Days program influencer?
It was pretty easy. It was like saying to someone “Why did you win a Grammy?” It’s an honor, so, of course, I would say yes. AT&T is a company that I have known not only as a consumer but I have worked with them on various projects in the community for many years. Again, I took it as an honor and it’s being bestowed by someone I respect and someone that I have worked with.


Why did you decide to become a social justice entrepreneur?
Well you know, I guess people sort of give you that label. I didn’t wake up one day and say that’s what I want to be. I wanted to focus on justice issues from a variety of angles. It’s just values that my parents instilled in all of their kids to do something to make the community better. They set an example for us because that’s what they did and that’s what we’re to carry on. It’s just natural. It is a part of what I do versus me selecting it as something to do.

What should Black and Brown youth know about the science, technology, engineering and mathematics (STEM) industries and career choices?
I think that what’s important for youth is to look at where the jobs are today and look at where the jobs are tomorrow, but also to be able to be an entrepreneur. Whether you get the STEM background or not, think entrepreneurially and understand that technology is everywhere around us. It’s a part of agriculture, the auto industry and publishing. The way we live, work and play is influenced by technology to some extent. You see what’s happening with robotics and artificial intelligence, so there is a variety of places where people can go. Not everybody needs to be the engineer, but there are many careers around the engineering in terms of art design, sales, and marketing. Having a core understanding of the elements will give our youth a fighting chance in this economy.

What’s your best childhood memory about Black History Month?
My parents were storytellers. Hearing about Harriet Tubman as a little kid sparked my imagination about the Underground Railroad. As a kid, I remember picturing it as a railroad that’s under the ground and understanding that it’s literal. As I got older, I was inspired hearing stories and it was just relative to Black History Month. Thurgood Marshall was one of the inspirations for me to go to law school. Everybody would hear about King, but it’s understanding that there are many other people that were there for this long connection chain in terms of Black History all the way up to President Obama. Just understanding this tree of men and women in our heritage that played such an important role and are part of the shoulders that we stand on. I will never forget it.

What type of companies do you look to invest in, and what stage of a company’s life do you tend to invest?
Right at that crux that they have been around and the idea has advanced beyond just an idea. They’ve got a concept, a business plan and they are looking at growing. If they are looking at how do I access a market, how do I do manufacturing or my service and they need that infusion then that’s where we fit. We can do early stages, but we are most interested in what’s beyond that. We are what people would call a series A or series B, but I tend to talk to entrepreneurs at all levels in the life cycle. You’re sort of giving them their homework and things to work on, but I like talking to these young entrepreneurs. You need someone to look you in the eye and have some belief in you.

In your opinion what is the best method approach an investor?

Things are successful because of people. It’s a people business. It’s too easy to get caught up with a business plan and the size of the market although those things matter. Its start with the person that’s leading the venture. It’s really trying to get inside and understand that person because it’s still a people business.

What is the investment you are most proud of?
I would say honestly let’s wait and see because we are still putting in resources. I would rather answer that retrospectively. It’s too early to tell, but there are some really interesting companies in the mix. We are new in this so it’s a little too early to say. I am proud of all the people we are associated with at this point.

What projects are you currently working on?
Well, a number of different things. Right now I have two jobs. I am president of a company called Opterna International, which is an area all about bringing fiber to people. That’s an area that is empowerment as well as good economics, so I view it that I am living this impact space. Then I am investing in companies that are in this impact space and are doing things to make money while also improving the environment, economic equality, and issues around health care both as an investor and someone guiding a company. It’s just a lot of fun.

What particular technologies are you most excited about right now?

Right now what’s exploding is the internet of things (IOT) where you’ve got machine-to-machine communication. It just opens up the possibilities. I am very excited about the possibilities of that. I mentioned one area which is known as aging in place. We have part of the population in the U.S. that are aging, so when we think about how to enable a person to stay where they are and not uproot them you need to make sure the physical space is conducive to that. Now we have the ability to put in monitoring devices and censoring devices, so they can be in better communication with loved ones.

There are items about their health can be now be monitored and engaged by third parties, so technology like this is going to revolutionize things. It’s about what we can do with lifestyle and healthcare, so where we live is going to be more integrated in these aspirations. What I want to do is make sure that the revolution of inter-connectivity does not leave behind low-income people or people of color. It is going to happen, but we have to make sure that there aren’t new types of digital divides and instead of looking at it as a digital divide we embrace it and see it as a digital opportunity. That’s what I am focused on a that’s what I am really excited about.

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