Startup Runway Foundation Hosting $10,000 “No Strings Attached” Startup Competition For Minority Led Startups In Atlanta
The Startup Runway Foundation is a partnership between Atlanta based venture capital firm, Valor Capital and local professional club, The Gathering Spot. Together, they’ve combined resources to help spur the funding for minority led startups.
According to the Kauffman Foundation, 41% of tech startups pitching or venture capital money, are minority led. However, only 10% of VC backed startups are minority led. To help shrink this divide, The Startup Runway is hosting “The Startup Runway Showcase” in Atlanta. The prize is a $10,000 equity free check. The prize will go to the top minority led technology startup, chosen by the judges.
Sponsors of the pitch series provide cash donations that directly support the $10,000 prize check. The pitch series’ generous sponsors include The Atlanta Hawks Basketball Club, Spencer Stuart, the national tech recruiter; Write2Market, the Atlanta digital marketing agency focused on startups; the Metro Atlanta Chamber of Commerce; Connectic Ventures, the early stage venture capital firm; and OnPay, a national payroll service focused on employers with less than 10 employees.
“Our brand promise is to entertain and unite the city,” said Melissa Proctor, Executive Vice President and Chief Marketing Officer of the Atlanta Hawks and Philips Arena. “In supporting great organizations like the Startup Runway Foundation, it ensures that we not only help foster the entrepreneurial spirit that is so prevalent in Atlanta, but that we embrace concepts and ideas from people of all walks of life that fully reflect our organization, fans, and neighbors as we strive daily to meet that goal.”
“Connetic Ventures partners with Startup Runway as a returning sponsor because the program fits squarely within our core beliefs: that diversity is a good thing, whether in industry, geography, or founders,” said Brad Zapp, Managing Partner of Connetic Ventures in Cincinnati, a returning sponsor. “We know that the Startup Runway program is one more way that we can encourage and prepare diverse starting teams.”
The May 2 Startup Runway Showcase and networking reception is open to the public until tickets sell out. Startup applications are a rolling open application process and Fall applicants will begin the selection process this summer.