How to Capitalize on Startup Resources for Minority Founders
Launching a startup is one of the most challenging things you can do in life. Getting a seat at the founders’ table as a minority, well that’s even harder.
Luckily, there are a wealth of resources out there to help minority founders succeed. They come from places like governments, banks, nonprofits, and the goodwill of minority trailblazers who came before you. If you know where to look, you can take advantage of these tools on your way to becoming the next minority success story.
Here’s a list of essential resources that every minority founder should know:
Minority Business Development Agency
MBDA is a U.S. Department of Commerce agency that works throughout the nation to link minority-owned businesses with the capital, contracts, and markets they need to grow. Specifically designed to enhance the growth of minority businesses in the U.S., MBDA offers educational and business resources like global research & data, loans & grants, and more. Find out more about the MBDA business center.
Code 2040 is named for the year that the U.S. is predicted to be a majority-minority nation - that is, when Caucasians will no longer make up the majority of the population. Founded in 2012, Code 2040 creates pathways for black and Latin tech talent through trainings, early-career programs, knowledge sharing, and events like The Summit - Code2040’s annual conference in San Francisco. To join the Code2040 community, check them out here.
Women In Tech Summit
The Women in Tech Summit connects, inspires, and educates women in technology.
If you're female and looking to found, this is for you. The Women in Tech Summit holds conferences all over the country. They’re a great opportunity to network, workshop, and be inspired by speakers who have encountered and overcome the same challenges as you. Get info & register for a conference near you.
There are hundreds, if not thousands, of opportunities for quickly getting an influx of capital for your startup. This federal portal offers eligibility information and deadlines on all federal government agencies offering grants and streamlines the application process - saving you time and money. To search over 1,000 available grants, click here.
Small Business Innovation Research
Known as “America’s Seed Fund”, this highly competitive grant program awards funding to small businesses that develop cutting edge tech. Federal agencies with large budgets are required to allocate a percentage to the SBIR program, which puts that money towards funding small businesses from the country’s R&D arena. As of late 2019, agencies participating in SBIR could award up to $1.7M (in some situations, more) to grant recipients. To learn more about the application process, check it out here.
OnePiece Work Incubator
OnePiece Work is an innovative cross-border shared office space with 9 locations in the U.S. and China. We provide guidance for minority founders by linking them up with our extensive network of investors, Fortune 500 companies, academic leaders, and entrepreneurs from across the globe. Our community of minority founders can guide you through the challenges of launching a cross-border startup because they’ve been there themselves!
For more great content on how to launch a successful startup, visit the OnePiece Work blog today!