By Jordyn Taylor
Special to the AFRO
Demo Day for the 2023 Techstars DC Accelerator Cohort was held on Dec. 8 at The View DC. The day featured 24 young tech start-ups that are leading the next generation of innovative solutions in industries spanning from healthcare and education to military and governmental services. The companies at the event were grant recipients from Techstars DC’s second year, which offers mentorship through a three-month accelerator program powered by JP Morgan Chase.
“Access is the number one thing,” said Cornelius George, the founder of Chuqlab, a Black-owned tech company. “This start-up game is really tough and as a Black founder, not getting that support. There’s a lot of great ideas coming out of our community, but without access, a lot of those things get lost.”
“Getting that access through Techstars gives me the opportunity to now pay that back and pay forward to the next generation,” continued George. “The business boasts its software program designed to analyze and mine data from several sources in order to increase the effectiveness of law enforcement investigations.”
With over 600 applications, the final cohort features a diverse portfolio of founders; a rarity in the venture capital market. Techstars and JP Morgan Chase put forth major efforts to break down barriers that block opportunities for minority-owned companies, which represent only 3 percent of all businesses according to the Pew Research Center. In spite of this, they are often underfunded by traditional venture capital.
The District of Columbia is cited as the 11th best startup ecosystem in the country by Technical.ly, a media company that focuses on tech news. Of the 24 tech companies, many are Black-owned and are geared towards bridging the gap for issues and paving the way for more diversity in their markets.
Founders present at the Demo Day included co-founders of Mili Llama, Donovan Bennett and Joshua Rodgers, who aim to end the substitute teacher shortage by connecting college students with K-12 schools.
There’s no question that if we’re not investing in AI, then we’re kind of falling behind.
Adam Phillips, the Managing Director for Techstars DC
Impacted by the horrors surrounding Black maternal health, Layo George joined the mere 4 percent of Black women to create start-ups after launching her company, Wolomi. The organization focuses on maternal health and expands access to perinatal care resources for mothers of color.
Norfolk State University graduates, Valeni “V” and Chana Felton, founded their start-up, Washington’s Hammer, with hopes of “advancing the tools and techniques utilized in the U.S. Navy’s ship repair industry,” according to their website. The platform serves as a collaboration space for the emerging opportunities that trades and skill-based jobs have moving into the future.
A special focus on artificial intelligence based technology was prevalent through the presentations, something that Adam Phillips, the Managing Director for Techstars DC, says was important to embrace for this cohort.
“There’s no question that if we’re not investing in AI, then we’re kind of falling behind. I knew that that would be a component of what we do,” Phillips explained. “That’s the future. That’s where we’re headed.”
The Demo Day successfully highlighted the benefits of diversity, equity and inclusion efforts that many other investment firms should mirror.
To view the complete list of 2023 Techstars DC portfolio companies, please visit www.techstars.com.
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