The Lightship Foundation, launched in Cincinnati as a business accelerator in support of startups led by women and people of color, is looking to bring its network of entrepreneurs from Ohio to the East Coast.
Departing May 1, the Startup Train is the organization's newest idea to reach and connect entrepreneurs and ecosystems across the country. The tour takes place over five consecutive days with a first stop in Providence, RI.
The train will then continue to New York, Philadelphia and Baltimore, and ending in Washington, D.C. and will include founder-focused events, investor meetups and founder/startup showcases at each stop. Created by Candice Matthews Brackeen in 2014, Lightship Foundation, is supported by the state of Ohio, and corporate partners like Kroger, Procter and Gamble.
According to Lightship Foundation Communications Director Vanessa Misoon, the inaugural train ride joins initiatives including the Lightship accelerator, bootcamp and upcoming Black Tech Week.
“We chose to use the Amtrak Acela covering the NE corridor from Rhode Island to Washington, DC stopping in New York, Philadelphia and Baltimore,” Misoon said. “It was important for us to include Rhode Island because it's buzzing with ripe tech talent from the universities, research institutions, and hospitals that are spinning out great IP and tech. Often the companies coming out of these areas over overlooked by the Boston/Cambridge tech ecosystem but have so much to offer. The area is also home to a robust and diverse population of emerging talent and the next generation of entrepreneurs.”
Misoon said the Startup Train was created with several goals in mind, but centers around making a space for underrepresented entrepreneurs. According to a study from the National Bureau of Economic Research, approximately 1% of venture-funded startup founders are Black. With Startup Train, she said, Lightship aims to support and amplify the work of Black innovators through connectivity and visibility.
“It is our intention to promote connectivity across the region amongst tech founders, talent and investors,” she said. “The current state of Black tech is... struggling. Black tech startups raised 45% less in 2022 vs 2021, with Black tech professionals representing just 8% of the total number of employees industry wide. These numbers are troubling for many reasons, but what is most dangerous about this data is the implication that startups led by founders of color are not worthy of investment, and there exists a shortage of Black tech talent for hire. Both are completely false.”
“We are excited to visit the RI ecosystem and look forward to the opportunity to meet and support the region’s brightest tech founders and talent,” Misoon added.
