Bridging the gap between underrepresented startup founders and the resources they need to grow highly profitable companies
May 21, 2020 – Austin, TX – DivInc, Austin’s premier nonprofit organization driving diversity, equity and inclusion in the startup ecosystem, recently released its FY April 2019 – March 2020 Impact Report highlighting progress made in transforming the existing entrepreneur tech ecosystem into a more authentically inclusive innovation community.
Their 12-week accelerator program helped its 5th cohort of diverse founders ensure their companies are built for success by providing top-notch, comprehensive programming, and connecting them with an extensive network of mentors.
Even before the COVID-19 pandemic forced many interactions to go virtual, DivInc was proactively enhancing its programming to serve hundreds more underrepresented entrepreneurs throughout the region.
As of March 2020, DivInc has helped 64 diverse founders launch 49 companies. Through its strong collaboration with Austin ecosystem partners such as Notley Ventures, Capital Factory, Techstars, and JPMorgan Chase, DivInc continues to transform the startup community by making it more diverse and authentically inclusive. Growth in successful entrepreneurship amongst people of color and women is critically important to the economic growth and strength of our country. This is especially true today as we look for economic recovery from the COVID-19 crisis. DivInc continues to work tirelessly to remove barriers by providing access to entrepreneurship best practices, mentorship, and social capital networks. DivInc envisions their next fiscal year to be a period of continued expansion in business and impact within the innovation ecosystem by accelerating the pipeline development of underrepresented startup founders and working to provide greater access to early-stage funding capital.
DivInc’s Impact Report key highlights include the following:
· Accelerator & Alumni Program: With 64 founders now having completed the DivInc accelerator, DivInc continues to support its portfolio companies’ business growth and ensure they thrive as executive leaders.
· Startup Sistas Program: Thought leadership is the catalyst for creating the most powerful network of women of color entrepreneurs in the Texas startup ecosystem. In FY2019, DivInc reached 420+ women of color founders through a variety of engagements.
· Founders Circle: Members help ensure sustainability for DivInc’s programming. In FY2019, DivInc Founders Circle members raised over $50K in funding to sponsor 10 diverse entrepreneurs and support 16 alumni founders.
Financial Sustainability: DivInc achieved financial sustainability through generous contributions from corporate sponsors, partners, and individual donors. In FY 2019, DivInc raised $290,000.
Collaboration & Engagement: DivInc’s culture is what sets them apart with the curation of all-inclusive networking and community engagements throughout the year. In FY 2019, DivInc reached 6,000+ entrepreneurs, investors, partners, mentors, and supporters. This culminated in March with the annual Champions of Change Awards fundraiser celebrating the unsung heroes leading the way for Diversity, Equity, and Inclusion (DEI) in Austin. CLICK HERE.
DivInc is a non-profit 501(c)(3) organization with a mission to bridge the gap between underrepresented founders and the resources they need to build high-growth, profitable companies, and even the playing field in the tech startup ecosystem to bolster the future of the U.S. social and economic well-being.
To learn more or to get involved, please visit: https://www.divinc.org/.