A Charlotte-based startup that aims to make project management seamless was among 20 companies chosen for Amazon.com Inc.'s (NASDAQ: AMZN) new AWS Impact Accelerator for Latino Founders.
Leantime will participate in the eight-week program that kicked off this week at Amazon's headquarters in Seattle. Each of the 20 Latino-founded startups will be equipped with resources, capital, mentorship and networking opportunities to help them excel in the startup ecosystem. The program will conclude on June 29 with an investor pitch event in New York.
AWS Impact Accelerator was born after Amazon Web Services in April 2022 pledged $30 million over three years to support early stage startups led by underrepresented founders. That includes startups run by Black, Latino, women and LGBTQ entrepreneurs.
"The reason why we launched this program is the disparities we see in VC funding for these underrepresented groups," said Denise Quashie, head of global startup marketing programs for AWS startups. "It was super important for us to make sure that we were doing our part to find ways that we can dive into supporting these underrepresented founders."
In addition to training opportunities, each founder accepted into the program receives $225,000 in combined cash and credits to help their businesses grow. The AWS Impact Accelerator for Black Founders was the first cohort of the program, which started last June. AWS's second cohort, focused on women-led businesses, launched toward the end of last year.
AWS received more than 1,100 applicants for its latest Latino founders cohort before selecting 20 startups.
The Charlotte participant, Leantime, was co-founded by Gloria and Marcel Folaron. The company, founded in 2019, is an open-source project management tool that simplifies planning. Leantime users can identify project strategies, set goals, create solutions, plan timelines and accomplish tasks.
"The tools that exist are just sometimes overwhelming and really focused for software development or project managers," Gloria Folaron told CBJ on why she created Leantime. "There aren't tools that are built for people who aren't in the (business) world every day."
Gloria Folaron said the accelerator comes at a time when she's experienced hurdles as both a woman and Latina founder. She applied for the program because AWS aims to make an impact through its three-year commitment. "That's something that resonates very strongly with me," she said.
She says the program will supply Leantime with networking and technical support, as well as resources needed to help the company incorporate AI into its platform. The technology will be used to create a virtual project manager for people interested in that offering.
"So, as time works through the program, we want to have really gotten a handle on some of the features and things that will really help people be more productive," Gloria Folaron said.
The startup also aims to expand its customer base, grow its revenue and launch a fundraising campaign following the accelerator.
The other 19 startups selected for the program are from around the globe in areas including California, New York, Texas, Florida, Puerto Rico, Illinois, Delaware, Mexico, Venezuela and Argentina,
The AWS Impact Accelerator for LGBTQIA+ Founders is slated for later this year, Quashie said.
