A dozen startups from the metro area, which address areas such commerce tech and the creator economy, have been selected to participate in the inaugural Techstars Atlanta class being funded by J.P. Morgan Chase & Co.
The selected startups will go through a 13-week accelerator program with access to mentors, customers and investors. The program will conclude in a demo day set for the first week of December.
The program is part of an $80 million fund launched by global investment business Techstars and raised through J.P. Morgan Chase’s (NYSE: JPM) private bank platform to create opportunities for diverse founders. That fund will support over 400 companies across 37 accelerator programs in nine U.S. cities over the next three years, according to the company. J.P. Morgan and Techstars partnered on an Atlanta pre-accelerator program for women last year.
For the inaugural programs, 60 early-stage startups across Atlanta, Chicago, Detroit, Miami, and Washington D.C will participate.
An average of 75% of the selected CEOs self-identify as Black, Hispanic or Latino, Indigenous American and/or Pacific Islander, according to Techstars. Atlanta led participating cities in its diverse representation, with 83% of the CEOs coming from diverse backgrounds and five of them being women.
Announcement of the cohort comes as racial disparities continue to affect Atlanta’s startup scene. Atlanta Inno has reported that out of the 25 largest venture deals in Atlanta so far in 2022, three went to Black founders.
All the startup companies in the Atlanta cohort have already launched, are selling in the market and have revenue and traction, said Melissa Pegus, managing director of Techstars Atlanta, in a news release.
Techstars also conducts an accelerator program paid for by Cox Enterprises. After completing the 2021 accelerator, Atlanta company Punchlist Labs Inc. raised $2 million and OrderNerd was acquired by local restaurant technology startup Popmenu.
Here are the 12 startups in the inaugural class:
- Bhala AI: Helps businesses with localization by translating content in over 50 African languages.
- Retavo: A marketplace platform helping founders create custom marketplaces within two months.
- LyRise: Helps companies hire, engage and retain talent in artificial intelligence.
- DiversiBoard: Connects technology talent in the Caribbean and West Africa areas to companies located in North America.
- Private Packs: Addresses body pains with hot and cold packs that are discreet, sustainable and wearable.
- Friendly Shoes: Creates shoes meant to be stylish and comfortable for anyone, including those who are elderly, disabled or pregnant.
- Super Bloom Bakery: Creates bread that is allergen-free and enhanced by superfood.
- Aspen Apothecary: Develops luxury fragrances made with natural products that are vegan-friendly and non-toxic.
- Buzzbassador: Helps businesses manage and grow affiliate, influencer or brand ambassador programs.
- Neufluence: A diverse creator marketplace that helps brands, startups, and creators collaborate and monetize their audience.
- RemoteCoach: Helps fitness trainers grow their digital business by launching their own app or selling subscriptions.
- Tychon: Helps influencers and brands meet and collaborate for advertising opportunities.
