Ray Richardson founded the HCI in 1998 to assist in improving the economic status of talented men and women of the black community. Through its activities, the HCI aimed to be a catalyst for business development for blacks who historically have had a difficult time in the capital raising process to start and/or expand a business. The HCI assisted entrepreneurs of merit in the capital raising process including: development of business plans, creating pitch decks, introductions to financial institutions and/or wealthy individuals, advice on strategy, etc. Note: During the HCI run from 1998 – 2010, it was not institutionalized.

When Ray Richardson created the concept of the Houston/Chavers Initiative, he was heavily influenced by black Civil Rights Attorneys, Entrepreneurs, Educators including the following: Charles Hamilton Houston, PW Chavers, Dr. W. E. B. Dubois, Judge William Henry Hastie, Reginald F. Lewis, Educator and Fisk University President Charles S. Johnson, Ray Richardson’s parents: Dr. Raymond Richardson, Sr. and Thelma Richardson.

Ray Richardson sought several investment bankers, entrepreneurs and educators who became the original founders and they are: David Mills, Onjada Richardson, Anthony Grate, Kenneth Allen, Martin Clayton, Claude Pierre, Howard Sanders, Mark Bobb, Shawn Baldwin, Anthony Kume.

During the founding of the HCI, several Wall Street titans, visionary Venture Capitalists and preeminent Educators played an advisory role and they were: Raymond J. McGuire, Kennth I. Chenault, Rodney M. Miller, Ernest G. Green, Stuart A. Taylor, II., Duane Hill, Darryl Thompson, Chris Simmons, Dr. Raymond E. Richardson, Sr., Dr. Edward Davis, Dr. Alex Williams, Dr. Kasim Alli.