accelerator

accelerator

Photographed by Alexis Jacobs, ButterbeanShots

Black founders have historically been at a disadvantage when it comes to accessing funding. Only 2% of VC dollars each year reach the hands of black founders and in 2022, they saw even less with a 45% decrease in funding.

Nex Cubed, a San Diego-based early stage accelerator is looking to change those percentages by prioritizing Black and diverse founders with its HBCU Founders Fund accelerator program.

“We've been investing since 2017,” Managing Director Mike Ma said, “primarily in fintech and digital health and we have always prided ourselves on looking at diverse and minority founders. 60% of our founders of that portfolio at a time have been women and underrepresented founders.”

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Provided by Plug In

Last week, Plug In, a South LA accelerator program, announced the launch of its fourth cohort. The deadline to apply is March 24 and the program will begin in April and end mid-July.

While Plug In got its start by helping South LA’s tech ecosystem, the company is not limiting the talent pool to local companies. Instead, Plug In is widening its reach by allowing startups from across the nation to participate. The 12-week program is focused on finding founders in the health care, digital media, edtech, climate and sustainability sectors.

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The legions of layoffs across the technology industry are prompting workers to consider new career paths, and while some are opting to leave tech altogether, others are considering founding their own startups. Beverly Hills-based CoFoundersLab, a program that aims to connect would-be entrepreneurs with investors eager for new deals, is looking to capitalize on this.

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