Inno Guides are designed to serve as an onboarding tool for anyone that's new to the city's ecosystem, as well as a refresher for those looking to learn more about Atlanta's startup and tech communities and the resources available to them.
Atlanta’s diversity is a distinct advantage for the city as it emerges as an East Coast technology hub.
That diversity attracted tech giants Microsoft and Airbnb, and it’s often cited as an edge over other markets, including Silicon Valley. Studies show companies with more diversity outperform their competitors.
But across the country, founders of color and women see less than 5% of the share of venture capital. Out of the $150 billion in venture capital invested in 2020, 1% when to Black startup founders, according to Crunchbase. Female founders received 2.4% of venture capital.
Though Atlanta is widely regarded as a landing strip for Black entrepreneurs, its largest tech companies and startups are still led by mostly white men.
The local tech ecosystem is trying to change that.
Atlanta has a wealth of resources for entrepreneurs and startups, built mostly by successful entrepreneurs who have stayed in the city or in tandem with the university system. It also has a growing number of resources to uplift entrepreneurs traditionally underrepresented in tech or in leadership roles.
These programs, organizations and firms help underrepresented entrepreneurs expand their networks, learn techniques to scale their companies and get access to capital.
This list only includes resources with a specific mission to help founders of color and women. Check out the other organizations and venture capital firms supporting Atlanta’s tech ecosystem on Atlanta Inno.
Did I miss anything? Let me know at eschilling@bizjournals.com.
Accelerator/ Incubator Programs:
Ascend Atlanta
This organization is a collaboration among university, city and corporate partners to support minority-led startups and small businesses. Ascend Atlanta provides educational workshops and networking to facilitate better access to capital and partnerships with other city organizations. JPMorgan Chase & Co., Morehouse Innovation & Entrepreneurship, TechSquare Labs, Village Micro Fund, Access to Capital for Entrepreneurs and Atlanta Wealth Building Initiative participate.
Center for Civic Innovation
The Center for Civic Innovation, which includes investors such as Mailchimp and Equifax, opened in 2014 as a space for people to innovate solutions to systemic inequality in the city. The center invests in civic entrepreneurs and acts as a meeting and learning space downtown.
Founded by angel investor Joe Beverly, The Cranium Incubator helps a cohort of founders of color and women learn business lessons and prepare to pitch to investors. Founders participate in a pitch showcase at the end of the program.
It Takes A Village pre-accelerator
Atlanta Tech Village’s four-month program aims to help founders of color and women grow their startups through educational workshops and mentorship. Its goal is to help companies raise a seed investment by the conclusion of the program.
LaunchPad2X
This nonprofit, sponsored by Venture Atlanta and other local tech organizations, helps women make the leap from founder to CEO through education, access to capital and events. Its one-week Core Flight Program provides a crash-course for women entrepreneurs. About a quarter of its graduate companies have exceeded $1 million in revenue.
Main Street Entrepreneurs Seed Fund
This business accelerator, managed by Georgia State University, supports underrepresented students, recent alumni and facility members with seed funding and mentorship to start and grow their businesses.
ScaleUp ATL
Endeavor, a national nonprofit with a local chapter, runs the ScaleUp ATL program, which announced its first cohort in 2021. The six-month program is designed to take early-stage startups led by Black founders to the growth stage.
The Women’s Entrepreneurship Initiative in Atlanta
This city-funded incubator provides female entrepreneurs with workspace, mentorship, technology resources and community events. It launched in 2017 as an economic driver for the city to help both small business owners and startup founders.
Networking/ Mentorship:
Black Innovation Alliance
This national coalition of organizations aims to support Black entrepreneurs. The alliance, headquartered in Atlanta, brings together “Innovator Support Organizations” to direct more resources toward leadership development, funding, public policy and programming to help Black entrepreneurs.
The Gathering Spot
This private membership club provides a networking and co-working space for diverse groups of people, from entrepreneurs and creatives to venture capitalists and lawyers. The club hosts events and workshops to connect people in the community.
Goodie Nation
This nonprofit, led by Joey Womack, aims to eliminate the relationship gap for underrepresented entrepreneurs. It partners with national and local organizations to provide mentorship and funding toward this goal.
This initiative, sponsored by Atlanta-based Operation HOPE, helps grow Black businesses through learning resources, one-on-one coaching and partnerships with other companies.
Opportunity Hub
Opportunity Hub, started in 2013 by Rodney Sampson, has a suite of businesses that aim to increase racial equity in technology. It includes upskilling programs, startup accelerators and the 100 Black Angels & Allies investment fund.
Parentpreneur Foundation
This nonprofit provides grants, resources and retail connections to Black entrepreneurs with children. Its goal is to help Black parents leave a legacy of entrepreneurship and generational wealth for their children.
The Russell Innovation Center for Entrepreneurship
The 50,000-square-foot Russell Center on the Westside provides Black business owners with resources, mentorship and networking to help grow their companies. The nonprofit has investments from The Coca-Cola Co., JPMorgan Chase and other corporate leaders.
Technologists of Color
Technologists of Color, founded by Marcellus Haynes, connects Black technologists, engineers and hiring managers to share tips for how to continue to grow in their career paths. Members get guidance on coding and job interviews through workshops, happy hours and pitch showcases.
Zane Access
This program provides events and other content to connect underrepresented founders to the startup community. Its 10-week “Capital Readiness” program helps founders learn how to raise their first round of capital.
Capital
Access to Capital for Entrepreneurs
This nonprofit provides loans for underserved small businesses in North Georgia and metro Atlanta. It also provides financial coaching to entrepreneurs and has a goal to decrease the racial and gender wealth gaps.
Collab Capital
This $50 million fund is geared toward Black-led startups and tech-enabled companies. It includes investments from Apple, Google, PayPal and Mailchimp. Check sizes start at $500,000 for first investments. The venture capital firm is led by Google for Startups Head Jewel Burks Solomon, Atlanta Techstars Social Impact Accelerator Director Barry Givens and Goodie Nation Co-Founder Justin Dawkins.
EnrichHER
By partnering with corporate impact funds, foundations and individuals, this startup connects pre-qualified companies led by women and founders of color to capital and coaching. Companies can apply for a loan or grant or enroll in its business financing accelerator.
Fearless Fund
This early-stage venture capital firm provides pre-seed to Series A funding for startups and small businesses led by women of color. Institutional investors include PayPal, Invest Atlanta and Bank of America. The firm also has the Fearless Foundation to educate entrepreneurs and grant programs for women of color business owners.
Google for Startups Black Founders Fund
Google for Startup’s Black Founders Fund provides Black-led startups nationwide with up to $100,000 in grant funding. During its first year in 2020, nearly three dozen Atlanta business owners received $2.3 million of the $5 million fund, the most of any market.
Panoramic Ventures
Led by serial entrepreneur Paul Judge and BIP Capital CEO Mark Buffington, this growth-stage investment firm has $300 million to fund underrepresented founders and regions.
Startup Runway Foundation
This showcase event connects investors to underrepresented founders. The founders who present are also paired with mentors to help them through technology and business development. Cox Enterprises is the presenting sponsor. Valor Ventures, Truist, Georgia Power and Avanta Ventures are founding partners.
Valor Ventures
Early-stage venture capital firm Valor Ventures has an inclusive investment model focused on startups in the Southeast. The firm aims to make sure its portfolio matches the diversity of the region. Check sizes start at $500,000, and investors include the Georgia Tech Foundation and the Kellogg Foundation. General partners Robin Bienfait, Lisa Calhoun and Gary Peat lead the firm.
Zane Venture Fund
This early-stage venture capital firm, led by founding partner Shila Nieves Burney, invests in underrepresented founders creating tech solutions in the Southeast. Investments range from pre-seed to Series A. Investors in the fund include Calendly CEO Tope Awotona and “the Godfather of Angel Investing” Sig Mosley.
