With support of U.S. Representative Kathy Castor, the LatinTech Accelerator fosters greater diversity and inclusion in the Tampa Bay tech startup ecosystem.

TAMPA, FL, UNITED STATES, September 28, 2023 /EINPresswire.com/ -- Tampa Bay Wave ("Wave"), in collaboration with the Tampa Bay Latin Chamber of Commerce, is excited to announce that applications for its LatinTech Accelerator are now live. This milestone comes after the launch of the groundbreaking program earlier this year with a $500,000 federal grant, championed by U.S. Representative Kathy Castor and powered by the U.S. Small Business Administration (SBA).

“In our region, we recognize the untapped potential within the Latino community to transform the tech sector. With this program, we're extending an open invitation to founders of Latin heritage or from Latin America. This is an unparalleled opportunity to be part of a meaningful shift in the entrepreneurial landscape," said Linda Olson, Founder and CEO of Tampa Bay Wave.

Addressing the Gap:

The LatinTech Accelerator was founded to tackle the glaring disparity in tech opportunities for Latino founders. Although the U.S Latino population is significant, it does not have comparable representation in the tech segment. Recent reports show that U.S startups with a Latino founder received just 2.1% of the nation’s venture capital funding in 2021. Another report from Bain detailed that, out of the top 500 venture capital and private equity deals in 2020, fewer than 1% involved a Latino founder. Additionally, Latinos remain highly underrepresented in the STEM workforce – making up only 8% of STEM workers, despite being the country’s second-largest ethnic group. This divide is even more dire for women, with Latinas only holding 2% of STEM jobs in the U.S. even though women comprise 28.8% of the U.S. tech workforce. The Tampa Bay Wave, and the Tampa Bay Latin Chamber believe it's time to alter the status quo. Startups qualifying for the LatinTech Accelerator must be at least 50% owned, controlled, and operated by people of Latin heritage.

Program Highlights:

Accepted companies will benefit from Tampa Bay Wave’s proven accelerator curriculum, which includes executive coaching, mentorship from industry experts, strategic introductions, and preparation for investor meetings. The program culminates in a Pitch Night, where founders will have the chance to present their innovations to a broad array of national and international investors, community leaders, and media.

Who Should Apply:

Startups from diverse sectors, such as fintech, healthtech, edtech, and more, are encouraged to apply. This is a high-impact, zero-equity program that offers participating startups the mentorship, networking, and resources necessary for long-term success.

A Track Record of Success:

Since its inception, Tampa Bay Wave has been home to accelerator cohorts that have garnered national recognition, winning awards and raising over $750 million in investment capital. With the support of Congresswoman Kathy Castor and other community stakeholders, the LatinTech Accelerator aims to continue this trend by giving Latino entrepreneurs the resources they need to thrive.

"As we open applications for this new accelerator, we're not merely introducing another cohort; we're announcing a paradigm shift. Tampa Bay and Florida are poised to become hubs of innovation and entrepreneurial excellence, and our Latino community is an integral part of that vision. This is about opportunity, growth, and building a more robust and dynamic tech ecosystem for everyone," said Cesar R. Hernandez, CEO of Omni Public and Chairman of the Tampa Bay Latin Chamber.

For more information about the LatinTech Accelerator and to apply starting September 1, visit https://www.tampabaywave.org/latin-tech/

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Cesar Hernandez
Omni Public
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