Impact Ventures, a Dallas nonprofit dedicated to creating diverse and inclusive tech ecosystems, is launching what it calls “North Texas’ first minority-focused startup accelerator program.”
Formerly known as Impact House, Impact Ventures was founded in 2017 to close the income and wealth gap for minorities and women via tech career pathways, inclusive entrepreneurship, and capital investment. Its new 12-week accelerator, coming March 2020, aims to assist underrepresented communities looking to break into the tech industry.
Applications are now open, with the window closing Nov. 22.
“As of 2018, just 2 percent of minorities received venture capital funding, 2 percent of minorities are represented in the tech industry workforce, and there’s projected to be over 1 million open tech jobs by 2020,” Impact Ventures Founder and CEO Benjamin Vann says. “Due to the sheer size of North Texas, we believe we play an integral role in closing these opportunity gaps.”
Impact Ventures’ kickoff celebration drew a good crowd. [Photo: Courtesy Impact Ventures]
Impact Ventures seeks to make North Texas a tech hotbed
Seeing technology growing in places like Detroit and Atlanta, Impact Ventures believes Dallas has all of the necessary ingredients to be the next tech hotbed for minority professionals and entrepreneurs. Vann cited the city’s robust corporate community, skilled labor force, affordable cost of living, and business-friendly tax benefits.
The new accelerator program will take a unique approach to training and development by combining the traditional one-on-one mentorship models with the power and influence of corporate human capital. The program will feature a guided online curriculum supplemented by national and local guest speakers, workshop facilitators, mentors, and venture fellows from local universities.
[Photo: Courtesy Impact Ventures]
Corporations will participate in “rapid-problem-solving hacks” that allow for the development of new or refined current service offerings in an open, interactive, and cultured environment. Startups will be offered a suite of business perks through global partnerships such as Microsoft for Startups, HubSpot for Startups, and Village Capital.
The accelerator also plans to provide discounted services with North Texas partners in marketing and branding, artificial intelligence, insurance, and coworking, along with access to Impact Ventures’ corporate and inclusive capital network.
Impact Ventures moved last year from Exposition Park to coworking space GoodWork, because Vann says he and GoodWork co-founder Amy King united over a similar focus on social impact during an Innovation Task Force meeting at the Dallas Regional Chamber.
A vistor to Impact Ventures’ kickoff celebration uses virtual reality technology. [Photo: Courtesy Impact Ventures]
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
-
The Water Cooler at Pegasus Park—the largest shared nonprofit space in Texas — is a place designed to accelerate impact, together. From Big Thought to SVP Dallas to The Trust for Public Land, the 15 ‘exceptional nonprofits' were picked after an application process last summer. They’ll join Water Cooler's five founding tenants.
-
The live virtual event titled “Equity in Motion” hosted finalist entrepreneurs from Impact Ventures' Spring 2021 cohort. See who took home capital from the pool of $50,000.
-
CBRE has launched a $7.25 million commitment to help combat climate change globally, improve educational and career development opportunities for racial minorities and disadvantaged populations across the U.S., and support community betterment efforts in Dallas—its headquarters city.
-
The free investment platform—Spark North Texas—is funded by a $950K grant from the U.S. Economic Development Association. Its "matchmaking algorithm" will connect entrepreneurs with suggested innovative financing structures and capital. Investors—including several angel networks that have already committed—will peruse the founders' projects seeking opportunities that meet their criteria. The goal: Spark new ideas that will help North Texas emerge from the pandemic, by bringing new tech solutions to market. Deadline for entrepreneurs to apply is November 24.
-
Across five days in late October, Social Venture Partners Dallas held its annual bigBANG! conference focused on driving solutions and equitable outcomes in Dallas and across Texas. Here's a deep look at the people, ideas, and outcomes that drove Dallas' longest-running event for social innovation. Plus, meet the winner of the bigBANG! pitch competition.
