LBAN bridges the venture capital funding gap by connecting underinvested Hispanic and Latino entrepreneurs with access to an ecosystem of Latino-friendly capital providers while providing founders access to education and mentoring at the Stanford Graduate School of Business.
Palo Alto, California, September 27, 2023 /PRNewswire/ — LBANA dynamic non-profit organization based in Silicon Valley. Stanford University To strengthen Latino entrepreneurship, today we announced the launch of the first-of-its-kind startup accelerator focused on expanding equitable funding to Latino founders. Backed by JPMorgan Chase, this first wave of the new program will match 40 Latino-founded startups with Latino-friendly capital providers (venture capitalists, bankers and CDFIs) to help them reach their funding goals and access mentorship from world-class industry experts with extensive networks and experience. Additionally, these Latino founders will: Stanford Your professors will guide you through go-to-market plans, revenue models, financial statements and startup valuation, culminating in an Executive Education Certificate from the Stanford Graduate School of Business.
LBAN
LBAN
this is, the study Latino-owned startups in the U.S. are over-indexed among technology company owners. Research shows that Latino startups grow faster and provide more jobs than white-owned business startups, yet they still receive less than 2% of VC funding. “VCs unfairly bias Latino founders when it comes to investment, yet the data proves that Latino-founded companies continue to outperform their white-owned counterparts. By giving Latino entrepreneurs access to networks, resources and capital that have traditionally been closed to them, LBAN and our partners are bringing more equity to the funding environment,” said LBAN CEO Robert Burns. Arturo Casares.
In just 10 years, LBAN has helped thousands of Latino entrepreneurs who faced unfair bias secure startup capital, expand their businesses, and create more than 50,000 jobs across the U.S., contributing more than $7.1 billion to the U.S. economy. AJ DeLeon, Innovare's The CEO and LBAN alumnus was turned down by over 100 venture funds when it came to seed funding in 2021, but found support through LBAN’s network of capital providers: “I was introduced to VCs through the LBAN network while I was still in school, which resulted in us being able to raise an additional $1 million. $2 million “In a round with too many applicants,” AJ DeLeon.
“Investing in our communities leads to a stronger economy for all.” Silvana MontenegroGlobal Head of Hispanic and Latino Advancement“That's why we're proud to expand our collaboration with LBAN to provide Latinx founders who have historically not had equal opportunities with the access and resources they need to succeed. Supporting founders every step of the way is essential to creating sustainable change in our communities.”
JP Morgan Chase becomes corporate sponsor LBAN was launched earlier this year by JPMorgan Chase to support Hispanic and Latino entrepreneurs through LBAN's pillars of fundamental research, transformational education and an empowerment ecosystem. Throughout the year, JPMorgan Chase has provided a number of in-person and virtual workshops for Latino entrepreneurs on the benefits of the company's supplier diversity programs and minority certifications. Remaining sessions will cover business banking assessments, access to credit and more. The company will participate in LBAN's 8th Annual Latino Entrepreneur Summit, where representatives from JPMorgan Chase will discuss the importance of access to capital for Latino entrepreneurs and small business owners and the company's leadership in the field. $30 billion Committed to racial equalityThe collaboration is part of an ongoing effort led by JPMorgan Chase to promote inclusive economic growth and access to eliminate wealth disparities for traditionally underserved populations, including Black, Hispanic and Latino communities.
LBAN's startup accelerator is currently accepting applications. To apply, December 2023 To achieve its goal of supporting Latino entrepreneurs in the U.S. who have already raised between $1 million and $2 million, $200,000 and $1.5 million From an external source.
If you are a startup founder, apply here.
About LBAN
LBAN is an independent nonprofit based in Silicon Valley whose mission is to grow the American economy by empowering Latino entrepreneurs across the country. LBAN is Stanford Through Stanford University Latino Entrepreneurship Initiative.
For more information about LBAN, please see below. https://www.lban.us.
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Marian Garcia cruise
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