Flywheel Social Enterprise Hub is getting ready to graduate its latest cohort of startup companies this month, and the members represent the first to take part in a new virtual accelerator program that focuses on advancing an equitable economy through entrepreneurship.
Flywheel, the region’s only social impact accelerator, said the program, called ElevateEquity, will provide the companies with culturally competency coaching, financial support, access to capital and additional resources designed to strengthen their growth potential.
The ElevateEquity accelerator program was developed with recommendations from several StartupCincy community partners, including Mortar, Aviatra Accelerator, Black Achievers, Main Street Ventures, Next Wave Impact and SoCap Accelerate. It is sponsored by PNC Bank.
“Unfortunately programs like this are needed, but fortunately I believe the time is right,” Don Stock, business banking market manager with PNC Bank, said in a recent video posted by Flywheel. “When you think about what we do on a daily basis, companies like ours need to step up and make a difference. We’re going to be able to continue to make an impact.”
The nine-week program, which launched March 1, will wrap with a demo day later this month. The five companies will pitch their ideas to potential customers, investors, team members and other stakeholders at 4:45 p.m. April 28. Queen City Angels is sponsoring that event.
Of the companies, Flywheel said four are led by Black founders and four by women founders. The ElevateEquity cohort includes:
- Mathematician Jr., which has modernized and recreated the ancient abacus to create fun, culturally-inclusive, empowering material that supports children learning math.
- First Generation Leaders of America, which provides tailored mentorship programs for schools, nonprofits, group homes and other organizations to create holistic academic support for youth.
- Black Career Women's Network, a national career development and coaching platform dedicated to fostering the professional growth of Black women.
- Queen City Certified, which provides cohort-model programming around diversity, equity and inclusion for small to medium-sized employers. Its mission is to equip businesses with tools to improve the equity of employment practices.
- The STEM Lab, a Cincinnati science, technology, engineering, agriculture and math project-based learning company that encourages learning in the STEM fields for grades 2-6.
Flywheel, founded in 2011 and based at Union Hall in Over-the-Rhine, conducted over 1,500 hours of coaching, participated in over 200 stakeholder meetings and welcomed over 700 attendees at its events in 2020, despite a 100% shift to virtual. Its programs also include Elevator, a 12-week accelerator, and, in 2020, SustainableCincy, a six-week pre-accelerator backed by Cintrifuse, HCDC and Kroger’s Zero Hunger-Zero Waste Foundation.
