FTDRR5 Close up of a hub on a rear bicycle wheel with an internal bicycle speed, on a city bike, Black background

Welcome to The Hub, your spot for venture capital, accelerator and incubator news. In this redesigned version of our news roundup, we’ll provide you with the latest on organizations working to support, educate and fund innovators and their ideas. We’ll highlight cohort applications, people to know in the incubator world and programs working to give resources to those who typically don’t have access elsewhere. As always, we’re focused on underrepresented entrepreneurs — such as women, people of color, and those geographically outside power centers — and organizations supporting these demographics. 

Have a piece of news you think will fit into this roundup? Email it to Skyler Rossi at srossi@timesofe.com.

U.S.’s Most Active Angel Investors Fall Short on Diversity Investment Rates

Joanne Wilson

The nation’s top three angel investors for diverse founders are Joanne Wilson, Jonathan Keidan and Marissa Mayer, according to an analysis from Beta Boom, a Lehi, Utah-based pre-seed fund. It recently analyzed 900 angel investors in the U.S, using data provided by Crunchbase.

The main point of the analysis was to look at the country’s most active investors — a list dominated by men. Many of them are names you’ll be familiar with, including Marc Andreessen. The most active angel investors aren’t scoring exceptionally when it comes to investing in diverse founders. Angels that ranked highest in total number of investments fall in the middle of the list for diversity investment rate. These investors, though the most active, also have “mediocre” exit rates, according to the analysis.

“Perhaps the best investors for diverse founders are those with a moderate level of activity rather than the most active and often most well-known ones,” the analysis concludes. 

At the top of the list of angels investing in diverse founders is Joanne Wilson, a former Macy’s executive and blogger @theGothamGal, who has a diversity investment rate of 64.5%. Jonathan Keidan, who ranks second, invests in mission-driven founders from New York City-based Torch Capital. Another notable investor is Marrisa Mayer, the former CEO of Yahoo, who ranked third on the overall ranked list and first on Beta Boom’s list ranking investors with over 30% exit rate by diversity investment rate. 

The top 10 angel investors ranked by diversity of their portfolios:

RankAngel Investor NameNumber of InvestmentsNumber of Diversity InvestmentsDiversity Investment RateExit Rate
1Joanne Wilson674364.2%13.4%
2Jonathan Keidan271451.9%18.5%
3Marissa Mayer261350.0%30.8%
4Rick Webb20945.0%35.0%
5Kevin Hale301343.3%13.3%
6Andy Dunn241041.7%16.7%
7Ullas Naik421740.5%47.6%
8Eric Schmidt361438.9%19.4%
9Ellen Levy261038.5%15.4%
10Caterina Fake24833.3%37.5%

The group also found that when ranking investors by the number of exits in their portfolio, men still dominate the space; only two women made it on the 50-person list. The tenth is Kim Perell, an investor in Portland, Oregon, with an exit rate of 54.5%, according to the data. 

The full ranked lists are published on its website here.

People to Know

Brooke Montgomery

Brooke Montgomery has been named the director of Studio G, a student accelerator housed at the Arrowhead Innovation Center at the New Mexico State University, according to a university news release. Montgomery will also be the director for the American Indian Business Enterprise center, which provides resources to Native American-owned businesses. She previously served as the deputy director of Studio G and is the founder of Pivotal Biotech, which has created patented respiratory medical devices.

Isabelle Kent is Philly Startup Leaders’ new executive director, according to an announcement on the group’s website. One of her first priorities will be deepening relationships with early-stage entrepreneurs to increase their visibility and growth, according to the announcement. Kent is the founder of Philadelphia-based Gigsaw, a service that helps people navigate career paths. 

Open Applications

ClimateTech Challenge

For ClimateTech is hosting a challenge to find the “most impactful and equitable solutions in climate tech,” according to its website. The challenge is sponsored by the New York State Energy Research and Development Authority, and powered by Rochester, New York-based NextCorps and Brooklyn, New York-based SecondMuse, which administer For ClimateTech.  Winners will be selected from four categories: Energy, Buildings, Food & Agriculture and Transportation. Each winner will receive $10,000. Finalists will also have the chance to be selected for a six-month accelerator program called V4C. Applications for the challenge are due March 18.

Unmanned Systems Tech Accelerator in NY State

GENIUS NY, a Syracuse, New York-based accelerator is accepting applications for its one-year, in-residence accelerator program. It’s funded by Buffalo, New York-based Empire State Development and located at Syracuse-based CenterState Corporation for Economic Opportunity’s Tech Garden incubator in the downtown area.The accelerator is open to startups around the world and is seeking those in unmanned systems, Internet of Things technology, big data and robotics, according to its website.  Five finalists will be selected for the accelerator, which has a total of $3 million in funding, according to the website. Applications are open until March 31.

Tampa Bay Accelerator for Diverse Entrepreneurs

Tampa Bay, Florida-based Tampa Bay Wave has launched applications for its TechDiversity Accelerator, which supports underrepresented entrepreneurs. The 90-day program is open to companies owned 51% by minority, women, veteran, disabled or LGBTQ entrepreneuers. The accelerator will provide mentoring, connections in the Tampa Bay community and marketing support, according to its website. The program, which starts June 8, will be virtual this year. Applications are due April 30.

Delaware Tourism Incubator and Workshop

The Delaware Tourism Office is launching a tourism incubator and related workshop called the Delaware Destination Development Program, which will provide business owners with resources to help attract tourists to the state. Applicants for the incubator must be small businesses, nonprofit or program in the tourism industry that have been in business for more than two years and are located within Delaware, according to the program page. Three businesses– one in each of Delaware’s counties — will be selected. In addition, 15 companies — five from each county–  will be selected to participate in a free workshop series. The six workshops, which will take place over six months, will be led by marketing agency professionals. The program will also allow for one-on-one sessions following the virtual sessions. Applications for both programs are due March 15. Entrepreneurs can apply to both programs, but can not be accepted to both, the website notes.

Louisville Chamber’s Minority Business Accelerator

Greater Louisville Inc., Louisville’s metro area chamber of commerce, has created an accelerator program for minority business owners who make $200,000 or more in annual revenue, the Courier Journal reports. The program, called the Power to Prosper Minority Business Accelerator, is powered by Interrise, a nonprofit that has partnered with other chambers of commerce on similar projects. Up to 20 people will be selected to participate in the free accelerator. Applications are due April 1.

Huntsville Gener8tor Accelerator

The gener8tor accelerator studio in Huntsville, Alambama is accepting applications for its 2021 cohort, according to its website. Gener8tor is a Milwaukee-based accelerator with programs across the country. Selected companies will receive $100,000 investments for 20% common stock equity. The program runs May 6 to Sept. 2.  Applications are due March 15.

Emerging Markets

Waste Management Incubator in East Africa

Yunus Environment Hub, a global social business network co-founded by Nobel Peace Prize winner Muhammad Yunus, has launched an incubator for companies in East Africa to improve waste management. The incubator is looking for 10 green, social businesses located in Kenya, Ethiopia, Rwanda, Tanzania, Uganda and Burundi. The  program is six months long, and the group plans to offer two others by 2023. Applications are due March 21. 

This story and others on New Builders Dispatch are made possible by a sponsorship from the Ewing Marion Kauffman Foundation. The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that provides access to opportunities that help people achieve financial stability, upward mobility, and economic prosperity – regardless of race, gender, or geography. The Kansas City, Mo.-based foundation uses its grantmaking, research, programs, and initiatives to support the start and growth of new businesses, a more prepared workforce, and stronger communities. For more information, visit www.kauffman.org and connect with www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.