Launch of a non-profit organization to close the wealth gap by encouraging entrepreneurship in HBCUs

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SAN DIEGO and SAN FRANCISCO, August 11, 2021 / PRNewswire / – Nex Cube, leader in early innovation and startup acceleration, announced the launch of the HBCU founders initiative. Born out of a Nex Cubed program launched last year reaching over 350 students and alumni over 50 HBCUs, the HBCU Founders Initiative is a 501 (c) (3) non-profit organization that supports students and HBCU alumni throughout their entrepreneurial journey, encouraging them to seek solutions that bridge the racial wealth gap, ranging from improving access to healthcare, education and services financial.

Entrepreneurship is a key lever in bridging the racial wealth gap in the United States, but of the billions of dollars invested each year in American startups, only a tiny fraction of the capital is reserved for startups founded by entrepreneurs of color. . Suddenly, innovative ideas die on the vine for lack of resources. While the rise of the Black Lives Matter movement last summer resulted in increased demand for a more equitable distribution of venture capital, there also remains a significant need to increase access to the technical resources needed to turn an idea into a business. business that changes the community. .

To meet the challenges, the HBCU Founders Initiative was created to foster entrepreneurship in HBCUs (historically black universities and universities), providing students and alumni with the technical and financial resources needed to launch digital businesses. impactful that help close the wealth gap.

The HBCU Founders Initiative will strive to inspire an entrepreneurial mindset by supporting the founders in the product ideation and start-up phase. Founders will have access to programming including industry webinars, panel and speaker sessions, ideation workshops, a pre-acceleration program, and pitch sessions. Given the size and lack of seed capital available to black founders, Nex Cubed will also establish the HBCU Founders Fund where startups participating in the HBCU Founders Initiative will be eligible to receive seed funding.

“We believe the key to tackling the wealth gap is to focus on entrepreneurship,” Nex Cubed CEO said, Marlon evans. “Entrepreneurship is a powerful tool that not only helps establish and create generational wealth, but also creates career opportunities for people from diverse and under-represented backgrounds. If we can support more entrepreneurs who strive to deliver effective solutions, they in turn can create opportunities. for others too – slowly but surely closing the wealth gap. “

Learn more about the HBCU Founders Initiative here. If you are interested in becoming a corporate partner Click here. If you are interested in donating to the initiative, Click here.

The HBCU Founders Initiative is currently accepting applications for the HBCU Founders Pre-Accelerator Program. The 8-week virtual program targets founders who are past the idea stage of their startup, ready to validate a problem and build an MVP. The pre-accelerator will consist of weekly sessions and will run from September 7 – October 22. If you are an HBCU student or alumnus interested in participating in the pre-acceleration program this fall, Click here to apply.

Media contact

Maggey Hoffmann

Email: [email protected]

About Nex Cubed
Nex Cubed is an investor and innovation partner that empowers startups, investors, businesses, universities and governments to bring new technology to market, help growing businesses, and provide pathways to liquidity – the power of three.

Through our global innovation platform which includes Sway Ventures (VC) & Altriarch private equity), we innovate, invest, accelerate and evolve cutting-edge technology companies. We do this by developing Centers of Excellence (COEs) around key verticals that are ripe for innovation. Each Center of Excellence is made up of the best entrepreneurs, investment partners, industry experts and government leaders.

Over the past four years, Nex Cubed has established itself as a leader in early stage innovation and acceleration, creating a global ecosystem of 3 industry specific COEs, 77 investments, 45 partners, 50 strategic advisors, 60 investor advisers, more than 140 mentors, and accelerate 130 companies, including more than 50 international startups. To date, the companies in the Nex Cubed portfolio are worth half a billion dollars overall, and nearly 60% of startups are led by women and minority founders.

For more information on Nex Cubed, please visit LinkedIn, Facebook, Instagram, Twitter, or the Company Website.

About the HBCU Founders Initiative
Launched by Nex Cube, The HBCU Founders Initiative is a non-profit organization that supports HBCU students and alumni throughout their entrepreneurial journey, encouraging them to seek solutions that bridge the racial wealth gap, ranging from improvement access to health care, education and financial services.

From the ideation stage to the investment stage and beyond, the HBCU Founders Initiative offers programs, events, resources, and an extensive network committed to supporting HBCU Founders who pursue entrepreneurship.

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SOURCE Nex Cube



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