Dear Readers—
We’re beyond the moment of having to prove that diverse founders haven’t gotten their fair shot or access to capital at the rate of funding success compared to other groups. This disproportionality in the data has served as a call to action for institutions and business leaders alike to level the playing field and provide direct support in removing barriers to founders of color and those who are underrepresented.
For over four years, Morgan Stanley has been supporting high-growth founders of color through their accelerator program, the Multicultural Innovation Lab (MCIL), designed to meet the needs of early-stage tech, and tech-enabled entrepreneurs.
More than 40 entrepreneurs have gone through the program to date. In addition to receiving capital and powerful networking, the MCIL entrepreneurs are armed with a curriculum on branding, marketing, and other critical business areas designed to help them grow. They have since gone on to raise over $80 million dollars in funding.
We’re excited to collaborate with Morgan Stanley’s Multicultural Innovation Lab over the coming weeks to dive into the case studies of a few of these founders and glean insights from their stories and learn more about their growth.
Over the next few weeks, as the series unfolds, we’ll also be amplifying the opportunity to join the next cohort of the program. Applications are open through September 16 and are accessible here.
In the work,
Sherrell Dorsey
Founder and CEO
The Plug
