Atlanta-based Opportunity Hub had a big week at South by Southwest and the diversity-focused organization is set to have a lasting impact in local tech and startup communities.
Perhaps the largest piece of the organization's big rollout was the OHUB x Austin Equity District, a partnership supported by Capital Factory, Huston-Tillotson University, 100 Black Angels & Allies Fund, HR&A Advisors, NexGenT, DivInc, Austin Mayor Steve Adler and many others.
The equity district provides a framework to build a more diverse, equitable and inclusive startup and venture community. OHUB has set up similar districts in Atlanta and Kansas City. Among many other things, the district will provide re-skilling certificates in software and other technologies, as well as host monthly events featuring Black founders, investors and hiring partners.
In addition, OHUB will have permanent space within Capital Factory.
During a SXSW panel conversation last week, OHUB Chairman and CEO Rodney Sampson said he is seeing a structural reimagining of what startup communities look like with diversity as part of its core playbook. And he said that the pandemic and fight for racial justice has created a big opening for improvement.
“It took last year to get people to slow down enough to look and then we’ve been in this incubation period of what I believe is the next age of equity and startup communities," he said.
Last year, many tech leaders made significant commitments and wrote letters and used hashtags. Then, he said, Black fund managers started raising capital and Black founders started closing seed rounds. But that's just a start.
“I think the next phase is the structural phases where we have to actually rebuild these ecosystems," he said.
And, eventually, he said, we'll normalize Black founders closing seed rounds and getting acquired. OHUB said in its Equity District announcement it's also bringing to Austin 100 Black Angels & Allies Fund, an investment group putting money behind a "scalable and sustainable Black technology, startup entrepreneurship and venture ecosystem."
OHUB had 1,000 students, its most ever, involved in this year's virtual SXSW happenings, a chance for diverse young people to learn from industry leaders and network. It has been coming to SXSW for eight years.
A spokeswoman said OHUB is looking for founding partners for the Equity District who will be asked to commit $100,000 over two years; hire at least 10 full-time roles using OHUB’s talent placement arm; ensure senior leaders are certified in Diversity, Equity & Inclusion Solutions.
Will Anderson with Austin Business Journal contributed reporting.
