A new crop of diverse founders is looking to scale their businesses with the help of a local organization.
Dallas-based nonprofit accelerator Impact Ventures has unveiled the lineup of its newest cohort, made up of nearly 20 companies that span from Himalayan dumpling makers to virtual reality job-training platforms.
“(Last week) kicked off the next 12 weeks of building the world we envision for generations to come—centering relationships, honoring the wisdom of our ancestors and those who came before us, championing liberation, and centering joy,” said Benjamin Vann, Impact Ventures founder and CEO, in a LinkedIn post.
Through the program, companies will receive mentorship and training, focusing on things like growth framework, customer acquisition, preparing for fundraising, and hiring practices. With its previous cohort, Impact Ventures split its programming into two tracks. Its Local Entrepreneur Accelerator Program focuses on small businesses that are looking to grow through flexible debt capital, while its Inclusive Innovation track focuses on tech-enabled pre-seed and seed-stage companies.
In addition to programming, Impact Ventures uses its accelerator as a pipeline for its recently launched Dallas Inclusive Capital Fund, which focuses on providing flexible loans and “patient equity” investments aimed at the structural barriers founders of color face when it comes to accessing capital. Vann previously said a founder’s character and commitment during the accelerator program is used in the fund’s underwriting process.
Providing investment routes like credit lines, revenue-based financing, and convertible note options, Impact Ventures is ultimately looking to raise $20 million for the fund. Vann previously said Impact Ventures is looking to make investments of around $100,000 in pre-seed companies and seed-stage investments between $250,000 and $500,000 across 12 to 15 companies with a pilot fund.
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The hybrid event in August will take place in person at SMU and virtually. The seventh annual Dallas Startup Week powered by Capital One is Dallas-Fort Worth's largest event focused on driving entrepreneurial success, economic impact, and innovation in the region.
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The Water Cooler at Pegasus Park—the largest shared nonprofit space in Texas — is a place designed to accelerate impact, together. From Big Thought to SVP Dallas to The Trust for Public Land, the 15 ‘exceptional nonprofits' were picked after an application process last summer. They’ll join Water Cooler's five founding tenants.
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Each weekday, Dallas Innovates brings you up to date on what you may have missed in the region’s innovation, technology, and impact news....
xtine burrough Media Artist and Professor UT Dallas .…on ...
North Texas is a big place with plenty of opportunities.
We’re on the lookout for contests and competitions; accelerator and recognition programs; and resource and grant opportunities for North Texas innovators....
The Federal Reserve Bank of Dallas has its first non-interim female leader. Lorie K. Logan has been appointed as its president and CEO, effective August 22....
“Texas markets were among the most active” for multifamily real estate heading into 2022—and the Dallas-Fort Worth region was a big reason why.
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