JPMorgan Chase deployed $2 million in funding to four South Florida organizations that aim to make the region's technology sector more equitable.
Coding bootcamp BrainStation, tech education platform CodePath, YWCA of South Florida and Rebrand Cities, an initiative that provides tools, workshops and training for businesses, each received $500,000. The goal is to expand tech workforce training for underserved job seekers and small businesses in Miami.
"As the tech industry in Miami continues to grow, we’re focused on breaking down barriers to bring in previously untapped talent and support a competitive, diverse local sector,” said Demetrios Marantis, global head of corporate responsibility at JPMorgan Chase (NYSE: JPM).
Last year the bank announced it would deploy $10 million toward Tech Equity Miami, a $100 million initiative to close the racial wealth gap in South Florida through tech education. That involves connecting women and people of color with job training and career opportunities.
According to Tech Equity Miami, all projects will contribute information and statistics to a public database to measure the impact of the initiative.
Although more tech companies have expanded in South Florida in recent years, diverse talent report it's difficult for them to access job opportunities, according to a 2021 analysis from Aire Ventures. Women and Black ecosystem leaders also told the organization they did not feel adequately supported by tech organizations and investors in the region. .
“As a result of this investment from JPMorgan Chase, hundreds of Miamians will gain skills for in-demand, high paying careers in tech," said Aire Ventures president Leigh-Ann Buchanan. "In addition, dozens of diverse-owned small businesses will have access to the resources and tools they need to make their businesses successful."
For more stories like this one, sign up for Miami Inno newsletters from the South Florida Business Journal and the American Inno network.
