Entrepreneurs sometimes don't get mentored on how to pitch to venture capitalists until late in their journeys. Investor Shila Nieves Burney wants to change that.
Burney, founder of education studio Zane Access and Zane Venture Fund, worried about student founders who wouldn't be accepted into mentorship programs at colleges and universities. From that, she was inspired to start virtual education program AccessU.
Supporting underrepresented entrepreneurs
With the goal of guiding diverse student entrepreneurs for success, the support program supplements existing university programs by providing access to information about venture capital and potential investors with a one-day conference.
“There are entrepreneur programs, but if you go to them, you won’t see a lot of Black students or women,” said Burney. “We want to highlight the talent and get them engaged with the right resources to have access to a venture network of student entrepreneurs to broaden their opportunities.”
Last year, investors pumped $3.7 billion into all Atlanta startups. Black founders received about 12% of that money, and over three-fourths of that went to one firm, Calendly. For entrepreneurs of color, the lack of funding undercuts their growth and potential expansion of the Atlanta economy.
Georgia State University will become the third university to partner with the program by holding a day-long conference on Oct. 14. The event will be in tandem with the college’s Main Street Entrepreneurs Seed Fund, a business accelerator program that serves underrepresented students.
The day-long event will include sessions about student entrepreneurship, how to get into venture capital and how to manage a career path. There will also be panels with student entrepreneurs and student-led venture funds, including Emory’s Peachtree Minority Venture Fund. The day will end with networking among investors and student entrepreneurs.
Cultivating Atlanta talent
Zane Venture Fund invests in early-stage, diverse founders in the Southeast. Its first, $25 million fund has investments from Calendly CEO Tope Awotona and Sig Mosley, who’s also a venture partner.
Burney sees AccessU as a way to bolster both the Zane Venture Fund and the broader Atlanta tech ecosystem. For the fund, they are exposed to more talent and potential portfolio companies. For the community, it is one more resource to uplift talent and provide pathways.
“We get to open and widen the minds of these entrepreneurs by being in front of folks at the forefront of decisions around venture capital,” said Burney. “The more we do this, the more people will see Atlanta as a place where there's lots of talent.”
The long-term goal for Burney is for AccessU to reach 100 universities and 10,000 students across each region of the U.S. within the next five years.
Community partnerships
Brown University became the first organization to partner with the program for the FounderU Roadmap Forum conference in October 2020. Last year, Emory University partnered with the program as well.
Three of last year’s attendees subsequently got jobs with Silicon Valley Bank, who was part of its programming, said Burney. One of the student entrepreneurs was accepted into the Roux Institute accelerator program at Northeastern Universityafter participating in the event.
For founders with an interesting idea or proof of concept, they will be considered forthe pre-capital program Zane Access to prepare for fundraising.
