Support for Women and Minority Tech Entrepreneurs in Atlanta s Catalyst Organizations

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1 Support for Women and Minority Tech Entrepreneurs in Atlanta s Catalyst Organizations

2 Definitions Entrepreneurship Ecosystem Catalyst Incubator Accelerator CoworkingSpace 2

3 Research Question How do the demographically targeted and nontargeted catalyst organizations in Atlanta s entrepreneurship ecosystem vary in service of minority and women tech entrepreneurs? 3

4 Minority and Women Tech Entrepreneurs Women- and minority- owned tech businesses are underrepresented in the U.S. accounting for 14% and 19% of tech businesses, respectively. 4 In 2017, startups with at least one woman founder accounted for 17% of venture backed startups In 2013, minority founded startups accounted for 8.5% of pitches to venture capital firms

5 Human Financial Social Physical Influencers Angel Investors Advocacy Groups Accelerators Elements of Atlanta s Entrepreneurship Ecosystem Training Universities Volunteering Youth Impact Investment Loans Non-profit Grants Public Sector Grants Associations Events Media Networks Coworking Spaces Incubators Product Development Resource Centers 5 Private Equity Online Communities Private Wealth Management Professional Bodies

6 Catalyst Orgs and Entrepreneurs Common challenges for minority and women entrepreneurs Capital Networking Education Space Catalyst Orgs may mitigate those challenges but participation rates are low 6

7 Catalyst Overview 55 Catalyst Organizations 51 non-targeted by race or gender 3 targeted at women 1targeted at minorities 7

8 Targeted Catalysts Ascend 2020 BuiltxWomen 8 digitalundivided BIG Women s Entrepreneurship Inititiative

9 Catalyst by Focus Accelerators None 4 24% Healthcare 1 6% Neuroscience 1 6% Social 2 12% Technology 6 35% University 1 6% Minority 2 12% Women 0 0% Incubators None 2 10% Arts 1 5% B2C 1 5% Fashion 1 5% Technology 7 35% Social 1 5% BioTech 3 15% University 1 5% Minority 0 0% Women 3 15% Co-Working None 15 83% Technology 3 17% Women 0 0% Minority 0 0% 9

10 Case Study Tech Focus, Targeted Ascend2020 BuiltxWomen General Focus, Targeted Women s Entrepreneurship Initiative 10 Tech-Focus, Non-targeted ATDC Atlanta Tech Village

11 Typology Diversity and Inclusion Business Services Access Financial Services 11

12 Advanced Technology Development Center Diversity and Inclusion Access Business Services Financial Services 115 Accelerate Level Startups 27% Minority 17% Women No Formal Diversity Mission Prerequisites ATDC Educate Core Minimum Viable Product Entry Online Application Recruitment No formal recruitment Coaching Entrepreneurs Industry Partners Subject Matter Experts Curriculum Connections ATDC Entrepreneur night Georgia Tech Campus Connect Capital Investor Connect SBIR/STTR Customers Customer Discovery Pitch Development 12

13 Atlanta Tech Village Diversity and Inclusion Access Business Services Financial Services 153 Startups 18% Minority 11% Women It Takes a Village Initiative Twitter Chats Funding Panels Prerequisites Proprietary Technology Entry Online Application On-Site Tour Video Recruitment Pre-accelerator Mentorship Advisors Mentors Technical Experts Education Workshops Networking Shared space Meetups Happy Hour Capital Early stage investors Angels Invest Atlanta Tech Stars Pitch Development 13

14 Ascend 2020 Diversity and Inclusion Access Business Services Financial Services 31 startups Minority-led startups Prerequisites Idea Stage Early Stage Scale Stage Entry Online Application Recruitment AUC Atlanta Minority Organizations Mentorship 1 on 1 Mentorship Education Business Management Customer Discovery Legal Networking Events through Tech Square Labs Capital CDFI s Equity Funds Pitch Development 14

15 BuiltxWomen Diversity and Inclusion Access Business Services Financial Services 26 starups Women-led startups Prerequisites High-growth, Scalable Technology Company Entry Online Application Recruitment Social Media Tech Square Labs SBA Mentorship 1 on 1 Mentorship Education Marketing Customer Discovery Financial Networking Events with Tech Square Labs Capital Early-stage Investors Angels Prize Money Demo Day 15

16 Women s Entrepreneurship Initiative Diversity and Inclusion Access Business Services Financial Services 15 startups Women-led startups Prerequisites Operational Early-Stage Entry Online Application Recruitment WICERS Mentorship Mentorship Moments Education Financial literacy Exit Strategy Networking Events Capital Angels Access to Capital for Entrepreneurs Jump Fund Pitch Development 16

17 Minority Led Startups Woman Led Startups ATDC No Formal Recruitment Recruitment Application Duration Education Networking Rolling Admissions No Set Term 200+ Annual Classes Public Atlanta Tech Village Women and Minority Serving Organizations Ascend Women and Minority Serving Organizations BuiltxWomen NA 26 Women and Minority Serving Organizations Women s Entrepreneurship Initiative Women and Minority Serving Organizations 17 Rolling Admissions No Set Term 60+ Annual Classes Cohort 6 Months Periodic Courses Cohort 6 Months Periodic Courses Cohort 15 Months Periodic Courses Public Internal Internal Internal

18 Key Findings Front End Recruiting women and minority founders Back End Depth of services

19 Recommendations Non-targeted Targeted Expand recruitment networks to include minority and women serving organizations. Leverage existing startup services to increase depth of educational and networking services Use mentoring and networking events to integrate women and minority founders into the greater startup ecosystem. 19

20 Questions? 20 Contact DeAnna Brown