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Minority Accelerator Program Creates Success for Start-up

Minority Accelerator Program Creates Success for Start-up

 

Although not an obvious fact, only a small percentage of venture capitalists or company founders come from a minority background. For example, a CB inside report stated that on a national level, only 1% of internet company founders were African-American. This may very well be the case due to the lack of programs or support systems for such endeavors. Angela Benton, Black Web 2.0 founder, stated that getting minority-led tech start-ups connected and, ultimately, funded is a major problem.  The NewMe minority accelerator program for start-up companies responded to this problem by hosting a summer long convention by inviting start-up companies founded by women and minorities and uniting them with them with the right connections and professional mentors in the Silicon Valley.

Among the NewMe advisors were the newly turned technophile, MC Hammer, Charles Hudson of SoftTech, and head executives from organizations such as Foursquare Inc. and Twitter Inc.  The summer long event included developmental mentorship from internet elite, private weekly dinners with business elite, a co-working atmosphere for start-ups and eventually a demo day for the start-up participants to pitch their ideas to influential individuals such as venture capitalists and angle investors.

Out of the eleven start-up companies to debut at the NewMe demo day earlier this month, one particular start-up left its mark on the program and its participants. OneSchool Inc. is a campus specific mobile app for the iphone that enables users to locate bus routes, access a map, discover new food and hangout locations and even converse with other users through a discussion function. It is also relatively easy to download, you simply go to the OneSchool website, select your university and download the app. What is unique and exciting for both OneSchool Inc. as well as the NewMe is that it is the first of NewMe graduates to receive a hefty grant of $100,00. The founder of OneSchool Inc., David Adewumi, as well as his two co-founders will use the money to rent a hacker house and hire a staff of former classmates to assist in coding.

OneSchool Inc. is sure to be only the beginning of many more success stories originating from the NewMe minority accelerator program. Programs such as this are sure to increase the small percentage of venture capitalists and company founders rapidly. If you would like more information on the NewMe programs or other start-up companies that participated in this years convention, please visit http://newmeaccelerator.com/.

 

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26 comments

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11:55PM PDT on Aug 24, 2011

great article, thanks for the info!

11:55PM PDT on Aug 24, 2011

great article, thanks for the info!

10:40AM PDT on Aug 22, 2011

I think of people in terms of social class instead of color....and the poor (all colors) are quickly becoming the majority.

6:28AM PDT on Aug 22, 2011

This is racist. When people are unemployed, and the playing field changes, and they HAVE to find something new - take a different path - they need help! Help from partners. Help from families. Help from communal networks. Help to take the time to re-train - to become productive and useful again. In this WE ALL WIN.

6:19AM PDT on Aug 22, 2011

To claim that minorities have a harder times than Whites is just untrue.

If your poor your all in the same boat.

Don't let reverse racsim exist.....

Make sure you understand both sides before you COMMENTS!


2:35AM PDT on Aug 22, 2011

Thanks for the article.

12:25PM PDT on Aug 18, 2011

Prejudice and "skin color Profiling" (as I call it) is alive and well....EVERYWHERE.
Imagine having whites and Indians (different tribes) assume you are indian.--constantly.
Imagine with all the hostility between the two,that you are called off breaks from a resort to verbally verify that you are not indian and explain heritage (German,Norwegian,Czech)
Imagine you have light/medium brown hair but it is the color of your skin (darker in summer) that although,does not have same tone....people focus on
Imagine you work for 3 yrs at a small manufacturing plant and find out everyone assumed you were Indian....even your boss that despite your application and info.....hired you under affirmative action ...
Imagine being treated like dirt at businesses by "whites" because of prejudice
That is part of my life

10:36AM PDT on Aug 18, 2011

Thanks

6:19PM PDT on Aug 17, 2011

It always saddens me to see that we (humans) are still so hung up about the colour of our skins! I have checked my own skin, first against a sheet of white paper, no, that's not me and then against a pair of shoes (it said black on the box) - oh no!!! I'm not black or white!!!! For a minute I was really worried, then I thought about it ...... what am I??? I was really worried! I've got arms and legs, a head, nose ..... hey, guess what .... I'm a human being! Stop worrying about colour, get over it, the colour of our skin doesn't matter, it is the kind of person we are that counts. Are we someone who cares or someone who couldn't give a ****. We've seen the worst riots in England in my life time (I'm not young); some people tried to blame 'ethnic' groups (never been that sure about that one) but people with all sorts of skins colours took part - sorry, I didn't see any green or blue people rioting - hey greeen and blue people are best!! Sounds daft doesn't it. Doesn't matter what colour you are it is what is in your heart that counts.

6:18PM PDT on Aug 17, 2011

It always saddens me to see that we (humans) are still so hung up about the colour of our skins! I have checked my own skin, first against a sheet of white paper, no, that's not me and then against a pair of shoes (it said black on the box) - oh no!!! I'm not black or white!!!! For a minute I was really worried, then I thought about it ...... what am I??? I was really worried! I've got arms and legs, a head, nose ..... hey, guess what .... I'm a human being! Stop worrying about colour, get over it, the colour of our skin doesn't matter, it is the kind of person we are that counts. Are we someone who cares or someone who couldn't give a ****. We've seen the worst riots in England in my life time (I'm not young); some people tried to blame 'ethnic' groups (never been that sure about that one) but people with all sorts of skins colours took part - sorry, I didn't see any green or blue people rioting - hey greeen and blue people are best!! Sounds daft doesn't it. Doesn't matter what colour you are it is what is in your heart that counts.

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