Your business idea might just be a little closer to reality.
The venture capital wing of the communications giant, Comcast, has just announced that it will be providing seed funding for five minority-led startups.
The Minority Entrepreneur Accelerator Program, as it is called, is a partnership between Comcast Interactive Capital and DreamIt Ventures, and will be accepting applications through July 8. The three-month-long program will start in Philadelphia on September 9.
“Diversity is a cornerstone of Comcast’s culture and we are proud to have Comcast Interactive Capital partner with DreamIt in this first investment from our $20 million fund focused on expanding opportunities for minority entrepreneurs,” said Payne Brown, Vice President of Strategic Initiatives at Comcast.
The program will be helmed by William Crowder, founder of Growth Strategy Advisors and a veteran of business development at AOL. Crowder will serve as managing director.
“The challenge for many startups and their founders,” Crowder said, “particularly those from minority communities, is one of access and opportunity. MEAP responds to this need in superior fashion, and we look forward to seeing what kind of entrepreneurial magic will be created as a result.”
In order to be eligible to participate in the MEAP, your company must be at least 50% owned by members of your founding entrepreneur team who are African American, Asian American, Latino American or Native American.
For details on how to submit an application, click the link below.