Capital Factory Announces $100K Investment Challenge for Annual Black in Tech Summit

Past Investment Challenge winners include McKinney-based ShearShare, Houston-based GroupRaise, and Austin-based Journey Foods. Applications are open now until Jan. 22.

ShearShare founders Courtney and Tye Caldwell

Capital Factory, a.k.a. the “center of gravity” for startups in Texas, will be holding its Black in Tech Summit on February 16, 2021. During the annual event, five technology startup finalists will be competing for $100,000 in Capital Factory’s fourth Investment Challenge.

McKinney-based beauty technology startup ShearShare won Capital Factory’s Dallas Diversity & Inclusion Investment Challenge in 2018. The startup has gone on to become a major success, closing a $2.3 million seed round in 2020. Past winners also include Houston-based GroupRaise and Austin-based Journey Foods.

Along with winning $100,000, the Investment Challenge winner will also receive up to $250,000 in potential total hosting credits from major hosting providers; admission to Capital Factory’s VIP Accelerator; access to the Capital Factory Mentor network; and a feature on an episode of Capital Factory’s Austinpreneur podcast.

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Capital Factory’s annual Diversity, Equity and Inclusion Summits focus on underrepresented groups of people. Through these summits, Capital Factory has started to see some positive results as illustrated by their 2019 Diversity, Equity & Inclusion statistics.

In 2019, Capital Factory recruited 15 startups with Black founders, 28 startups with female founders, and 15 startups with Latinx founders.

Any tech or consumer startup founded or co-founded by a Black entrepreneur can apply to pitch at the Black in Tech Summit. The finalists will be judged by entrepreneurs, industry leaders, and mentors. Interested entrepreneurs can apply here until January 22, 2021.

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