Top growth stage resources every diverse entrepreneur should know
Now is an important time for your business to take the next step. You’ve successfully launched a product or service that’s generated between $500,000 to $ 1 million in Annual Recurring Revenue (ARR).
First off, congratulations! You’re among the 10% of entrepreneurs who’ve succeeded in transforming an idea into a viable business. Chances are your expertise and own funding sources have gotten you to this current level of success.
Summiting the next peak on your entrepreneurship journey requires additional financial, networking and leadership resources to move you to your next ARR goal.
To support your path forward, we’ve put together a list of resources to help growth stage entrepreneurs move beyond a startup phase to become established businesses.
Learn how these 8 accelerators, funding sources, and membership organizations support entrepreneurs from historically underserved communities.
1. 1863 Ventures
1863 is a Black-led nonprofit accelerator and venture capital fund for New Majority Founders based in Washington D.C. The organization bridges the gap between entrepreneurship and equity for black and brown entrepreneurs by supporting early-stage and growth-stage founders.
1863 offers programs for every business stage based on a company’s current annual revenues. Options include Accler8, Pipeline, Beyond5 and Studio, tailored to specific annual revenue.
2. Latino Leadership Institute
Inspire. Influence. Impact. Inform. These four words embody the history and legacy of the Latino Leadership Institute (LLI), a Denver-based organization striving to build a leadership pipeline within the Latino community.
The Institute offers two programs. The Latino Entrepreneur Access Program (LEAP), an accelerator program, is designed for growth-stage Latino & BIPOC entrepreneurs and leaders. Ignite is a unique Latino leadership development program.
3. Founders First
Founders First financially supports women and minority-based businesses by providing revenue-based funding and advisory services. The San Diego-based organization, however, does more than “write checks” to fund business ventures.
In addition to helping entrepreneurs secure the right capital for their goals, they have access to mentors with expertise in scaling similar companies. Founders First serves Asian, BIPOC, Hispanic, LGBTQ+, veteran and women-owned businesses, and businesses in LMI (low-to-middle-income) zones.
Ureeka began with a shared passion for social impact and a passion for sharing insider strategies from successful businesses with smaller companies.
Since its launch in 2018, more than 12,000 entrepreneurs have turned their ideas into thriving using Ureeka’s SMB growth engine to unlock the full growth potential available in the digital world. Ureeka offers a Growth Center to monitor performance, courses to prioritize an entrepreneur’s next steps, and services tailored to their specific needs.
Techstars has invested in more than 3,300 early-stage startups representing 7,300 founders of diverse businesses including HealthTech, FinTech, Web3 and CleanTech.
Each three-month program provides mentorship, networking, funding and fundraising opportunities, and education. In addition, pre-accelerator and accelerator programs assist aspiring entrepreneurs worldwide. Take a listen to the Techstars Podcast Network to hear the success, challenges and points of view from Techstars worldwide.
6. Hispanic Contractors of Colorado
Hispanic Contractors of Colorado (HCC) is an association for general contractors, subcontractors, engineering and design firms, professional services companies, nonprofit members in the construction industry, and public entities.
The organization hosts ongoing education and social events, and its Contractor Academy Scaling Program provides professional development, scaling for growth, and business networking.
StartOut accelerates the growth of LGBTQ+ entrepreneurs through the organization’s Growth Lab, a mentoring, education and networking opportunity for startup and early-stage companies.
Members gain access to mentors, investors and research that supports their leadership and business development goals. Since 2017, StartOut has graduated 56 businesses that have raised more than $763M in funding and created over 3,650 new jobs.
8. Venture for America
Venture for America specializes in supporting recent ambitious graduates seeking a career challenge through a two-year fellowship program. Participants receive training and experience in a startup located within one of 12 communities across the country.
After completion of the fellowship, individuals have the opportunity to stay and work in the startup they’ve been in or move on to launch their own business.
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Category: Business Growth & Strategy
Tags: business growth strategies, Diversity, entrepreneurship, Growth