Capital Factory, in partnership with DivInc, and The Dallas Entrepreneur Center announced Tuesday the $100,000 Dallas Diversity & Inclusion Investment Challenge targeting North Texas startups that have at least one female or person of color on their executive team.
Qualifying startups can apply on AngelList to make a pitch on Capital Factory’s Funding Day on Jan. 19.
The challenge is a way for the partners to back and bolster diversity in the North Texas startup community.
“We want to help create an authentic culture of inclusive entrepreneurship within the Texas tech ecosystem.”
Preston L. James II
“I meet black, Latino, and female entrepreneurs every day who have great ideas and incredible passion, but lack access to essential resources to build scalable, high-growth businesses,” said Preston L. James II, CEO and executive director of DivInc, a pre-accelerator in Austin. “We want to help create an authentic culture of inclusive entrepreneurship within the Texas tech ecosystem.”
In September, Capital Factory held a diversity challenge in Austin that attracted a variety of startup teams. The winner of $100,000 was event planning platform Kiss and Tell.
The top team that pitches at Capital Factory’s Funding Day will receive:
- $100,000 cash investment on a SAFE or Convertible Note
- Special access to an A-List of Texas’ top entrepreneurs
- One year of unlimited coworking at Capital Factory and The DEC
- Access to the Capital Factory Mentor network
- Company formation by startup law firm Kastner & Gravelle
- Hundreds of thousands of dollars in free hosting credits from Amazon Web Services, Google Cloud, IBM Softlayer, Microsoft & Rackspace, plus many other cloud services
Funding for the investment challenge comes from the Capital Factory Partners Fund, a group of the most-active mentors and angel investors in its network.
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