The Austin nonprofit held its first 12-week program last fall at co-working space Galvanize, with the aim of creating a path to tech entrepreneurship for underrepresented demographic groups.
The spring cohort, which starts April 3, is composed of seven women and nine men. Fourteen of the sixteen are underrepresented ethnicities. To be considered, companies must be tech or tech-enabled with at least a validated concept, but preferably a viable product.
The new group includes everything from a virtual reality education tech application to a social media app focused on empowering couples to build stronger relationships.
“As someone who has been in the tech space for a number of years, I’ve seen the lack of diversity firsthand,” said Preston James, co-founder and CEO at DivInc. “I’m proud and excited for this second group of founders as we create positive change and empower them to succeed. We continue to receive tremendous support from the Austin community and beyond, and look forward to collaborating with partners that want to create a mindset shift within the tech industry.”
DivInc serves as a pre-accelerator, James said, giving entrepreneurs an opportunity to catch up with peers who have already had access to mentors, investors and other resources.
The hope is that the program will prepare the entrepreneurs to get accepted into national accelerators, such as Techstars or 500 Startups, and give them the pitching skills and investor connections they need to raise seed funding.
DivInc and Capital Factory partnered in the fall, with Capital Factory mentors working with DivInc founders.
Of the move to Capital Factory, Ashley Jennings, DivInc chief marketing officer, said: “In continuing our efforts to be a catalyst for change, we’re excited to partner with the CF team and have a seat at the table with their new diversity-focused initiatives and leadership. We’re pumped to be a part of the Capital Factory family and can’t wait for what’s ahead.”
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