Latino Business Action Network recently launched its Startup Accelerator program to empower Latino technology entrepreneurs through mentorship, networking, and educational resources.
According to a recent Latino Business Action Network (LBAN) report, Latinos are the most prolific new business founders in the United States, with more than 5 million Latino businesses currently under management. It is said that they are doing so.
Despite this impressive number, Latino entrepreneurs face significant barriers when accessing venture capital.
For technology entrepreneurs
The accelerator program, supported by JPMorgan Chase, is a startup-backed, majority-Latino-owned, venture-backed technology company focused on areas such as AI, agritech, healthtech, fintech, and biotech. Focus on 40 companies.
The nine-week curriculum is designed to provide these companies with critical tools such as mentorship, capital matching, and targeted courses.
“Founders face many complex challenges on the journey from idea to launch to exit,” said John China, co-head of the Innovation Economy at JPMorgan Chase Commercial Banking.
“By supporting LBAN and Stanford in this effort, we aim to help them have more equitable access to the critical resources and expertise that will help them overcome obstacles and achieve their goals.”
Accelerate Latin business growth
This program is specifically targeted at businesses that are ready to scale but may be stuck at around $1 million in revenue.
“Our mission is to grow the American economy by empowering Latino entrepreneurs nationwide,” said Arturo Cazares, CEO of LBAN.
With the launch of this new Startup Accelerator, LBAN and JPMorgan Chase aim to change the narrative by providing Latinx technology entrepreneurs with the resources they need to succeed and scale their businesses.
