Chicagoland tech groups are getting a boost to scale their programs.
Chicago's Tech Equity Working Group, an initiative of GET (Gender Equality in Tech) Cities, announced this week that it is setting aside $1 million to help scale five local pilot programs in a bid to, in part, help increase diversity in entrepreneurship in Chicago.
According to GET Cities, only 24% of tech jobs in Chicago are held by women, and only 3% and 4% are held by Latina and Black women, respectively — numbers GET Cities, which launched across the country in 2020, hope to see increase in the coming years.
Among the pilot programs that will get new funding is the Chicago Venture Fellows led by Chicago:Blend. Backed by Chicago:Blend and Melinda Gates' GET Cities, Chicago Venture Fellows launched in 2021 as a way to train aspiring venture capitalists from underrepresented backgrounds. Since its launch, the program has trained 30 fellows, nine of whom have found new roles in the VC world, according to the Tech Equity Working Group.
With the new funding, a new full-time coordinator will be added along with 30 fellows.
Others that will be receiving funding include the Chicago Tech Equity Desk at the Polsky Exchange, a 34,000-square-foot South Side startup incubator; P33's TechRise and TechChicago; Travel Funding and Entrepreneur Exchange from World Business Chicago; and Venture Engine Executive Founders Series from the Illinois Science and Technology Coalition.
The Polsky Exchange will partner with 37 Oaks, with additional support from Verizon, to offer 20 products-based businesses e-commerce training and fulfillment support and grant funding to 12 businesses in order for them to upgrade web services, web design and digital storytelling. The Tech Equity Desk will also place 20 UChicago student interns in South Side businesses.
The Tech Equity Working Group will also sponsor future rounds of TechRise, a pitch competition led by P33, that will support women, trans and nonbinary founders, and will support World Business Chicago as it organizes a series of travel funding and entrepreneurship exchanges with international sister cities and domestic partnerships.
