University Startups was featured in an article on Technical.ly. Read below for a preview of the article, and click the link for the full article.
Techstars is hitting the ground running with a dozen area startups in its new Techstars Washington DC Powered by JP Morgan accelerator.
First announced back in March 2022, the accelerator is part of a joint initiative between Techstars and JP Morgan that is offering $80 million in funds to more than 37 accelerators through 2025. The program is geared toward founders of color, particularly those in the health, education, finance, government and cybersecurity sectors.
“We sought startups with extraordinary teams that were demonstrating promising early traction in solving problems that address large markets, and that can benefit from tapping into the unique strengths of DC’s innovation and startup ecosystem,” said Techstars Managing Director Keith Camhi in a statement. “And after an extremely competitive selection process, we couldn’t be more excited with the outstanding and highly diverse class of founders that will be joining us.”
The programming, Techstars said, aims to use investment and community partnerships to help underrepresented founders overcome some of the barriers they disproportionately face. According to Techstars, 75% of the 12 DC companies have a CEO from an underrepresented background. In addition, over half are led by women CEOs while a third of the company leaders are graduates of historically Black colleges and universities. Two-thirds of the accepted companies are also headquartered in the DMV.