Austin fintech company Q2 and Austin FC are teaming up on the Austin FC Dream Starter competition, which gives emerging founders from underrepresented communities a shot at a $100,000 prize.
Applications opened May 11 and close May 18. Among the application fields is one that asks founders to explain how funding from the contest would help promote diversity and inclusion in Austin or otherwise help investment in underrepresented entrepreneurs.
The new initiative, done in partnership with diversity-focused accelerator DivInc, will involve a pitch contest with five finalists at Q2 Stadium on June 10. Then, a winning venture will be announced at halftime of Austin FC's first home match on June 19.
Working with the city's new Major League Soccer team could be a jolt of exposure for many entrepreneurs. And then Q2 (NYSE: QTWO), which builds digital banking software for banks and credit unions, brings major tech credentials to the partnership. The company reported May 5 revenue was $116.5 million in the first quarter, up 26% from the same period a year prior, and its net loss was $25.7 million, down from $34.1 million in Q1 2020.
For more on the competition, go here.
