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Latinx founder numbers are growing at a faster rate than any other group and we’re expected to yield $1.4 Trillion in US GDP.

A couple of years ago, I started my journey in supporting Latinx founders as an investor at Backstage Capital through the Accelerator and with this post. And I believe what I wrote then even more now!

TL;DR Latinx entrepreneurs are a strong force to be reckoned with! With capital and support, we can grow our businesses to produce in the trillions — trillions that can better the lives of our families, ourselves, and the world.

Now: I want to invest and support more Latinx founders because I want to support my community and there’s money to be made.

Guide: My mami always taught me to be resourceful to those I want to help and work with. So, I decided to put this guide together for Latinx Founders.

In this guide, you can expect to find:

1. What everyone needs to know about Latinx founders
2. Latinx startups that have raised over $1M
3. Latinx founders who have exited
4. Latinx founders and startups to watch
5. Latinx investors
6. Latinx incubators and accelerators
7. Latinx communities
8. Latinx podcasts
9. Latinx events

1. What everyone needs to know about Latinx founders

Latinx are the second-largest population in the United States. In 2001, Latinx founders made up 6.5% of all founders, while in 2019 we grew to 15% making us the fastest growing demographic launching companies.

Unfortunately, Latinx founders have a hard time getting money to grow their companies, as per Stanford Graduate School of Business, Latino Entrepreneurship Gap Report. The percentage of Latinx founders having difficulty in accessing capital is 6% more than companies founded and led by non-Latinx and when Latinx founders do access capital, the cost of capital is typically 4% higher than the cost acquired by non-Latinx founders.

If you think the numbers are off, think again. According to Project Diane, Latinx women founders only received .4% of the $400 billion in total venture capital funding between 2009 and 2017.

It makes zero sense that a negligible amount of all venture capital is going to Latinx founders because, according to the Aspen Institute, Latinx founders can yield an additional $1.4 trillion to the U.S. economy. It’s obvious that investors are leaving hundreds of millions of dollars on the table by not investing in Latinx founders. We are the hidden gems!

2. +100 Latinx founded and led startups have raised over $1M dollars [database]

3. +14 Latinx founded and led startups have exited [database]


4. Latinx founders + startups to watch

Elias Torres, Co-founder of Drift

Further Reading: Drift’s Latinx Founders Beat Long Odds To Build $360 Million AI-Powered Sales Startu

Irma Olguin, Co-founder of Bitwise

Further Reading: Meet The Latinx Founder Building A $100 Million Tech Hub

Manny Medina, Founder of Outreach

Further Reading: Outreach CEO Manny Medina on leading the Seattle unicorn startup through the COVID-19 crisis

Luis Von Ahn, Co-founder of Duolingo

Further Reading: How Duolingo Could Benefit by Hiring Through Canada’s Global Talent Stream

Polly Rodriguez, Founder of Unbound

Further Reading: This NYC-based woman entrepreneur fights Internet giants like Facebook to get the sextech industry its due.

Alexandra Zatarain, Co-founder of Eight Sleep

Further Reading: Eight Sleep Raises $40 Million To Make Slumber A Medical Solution

Susie Jaramillo, Co-founder of Encantos

Further Reading: Encantos Launches New DTC Family Brand, Tiny Travelers

Tanya Menendez and Pam Martinez, Co-founders of Snowball Wealth

Further Reading: Women-Owned Startup, Snowball Wealth Aims to Tackle the $1.6 Trillion Dollar Student Loan Crisis

Richie Serna, Founder of Finnix

Further Reading: Payments infra startup Finix closes $35M Series B led by Sequoia

Kristen Sonday, Founder of Paladin

Further Reading: Kristen Sonday Shares 3 Lessons She Learned After Raising Over $1 Million In Funding

Maxeme Tuchman, Co-founder of Caribu

Further Reading: Meet the Co-Founder of Caribu, The App That Lets Your Kid Read and Color with Friends + Family

Brittany Chavez, Founder of Shop Latinx

Further Reading: Meet the Latina Behind Shop Latinx: An Online Marketplace For & By Us

Rebecca Alvarez, Founder of Bloomi

Further Reading: Let’s Talk About Sex With Rebecca Alvarez Story from Bloomi

Carolyn Rodz, Founder of HelloAlice

Further Reading: Mastercard And Hello Alice Team To Close The Resource Gap For Women Entrepreneurs


More:

100 Latinx Founder [database]

What other Latinx founders and startups should we watch? Share your picks here and see more founders to watch here and here.

100 Latina Founders [database]

Afro-Latinx Founders Directory

As part of our commitment to stand with our Black community members and colleagues, #WeAllGrow has created a list of small businesses founded by Afro-Latinas as a resource for our community to invest in and amplify.

💸 If you’re fundraising, submit your co to the Startup-Investor Matching Toolhere. It’s by and for underestimated founders! 🎉


5. Investors investing specifically in Latinx founders

Vamos Ventures —

A VC impact fund investing in Latinx & diverse founders defining the future through technology.

Angeles Investors —

Mission: To find, fund, and grow the most promising Hispanic and Latinx ventures.

Catalyst Fund —

A fund that invests in Black, Latinx, and female founders.

Top Latinx investor allies

Arlan Hamilton, Founder of Backstage Capital. She invests in Latinx founders!

Lo Toney, Managing Partner at Plexo. He invests in diverse founders and diverse GPs

Freada Kapor, Partner at Kapor Capital. She’s invests in Latinx founders.

Shruti Gandhi, General Partner at Array Ventures. She’s dedicating $1M to Black and Latinx enterprise founders.

6. Latinx accelerators and programs

Manos Accelerator —

A Latino focused accelerator program providing education, resources, and guidance for promising startups. Manos is a Google Launchpad partner.

Latinx Incubator —

The mission of the incubator is to grow the pipeline of Latinx entrepreneurs participating in and contributing to the Chicago tech and innovation economy.

Goldman Sachs launched Launch With GS — 

A program exclusively to support black and Latinx founders whose businesses are tech or tech-enabled fintech, enterprise software, consumer, and healthcare; and have a forecasted annual run rate of at least $1M. The first cohort just wrapped up but if you want to reach out about future programs email launchwithgs@gs.com.


7. Latinx communities

Latino Startup Alliance —

An organization that encourages the inspiration and cultivation of U.S. Latino led technology startup ventures by providing a strong support network of fellow entrepreneurs, investors, innovators, & mentors.

Latinx Founders Collective —

A high impact community of 100 venture-funded Latinx founders by 2020.

Latinx VC —

A group of experienced venture investors coming together to connect, engage, and foster the Latinx VC ecosystem. They aim to be the central and definitive resource for Latinx VCs.

Techqueria —

Techqueria is a nonprofit that serves the largest community of Latinx in Tech.

Latino Business Action Network —

LBAN is a nonprofit that helps Latino entrepreneurs grow their businesses through research, education, and national ecosystem development.

Latinas in Tech —

The largest network of Latina women working across the technology sector.

#WEALLGROW Latina —

Elevating the voices and stories of Latinas via the power of community.

Digital Undivided —

Merges data and heart to create pathways for Black & Latinx women into entrepreneurship.

Black and Brown Founders —

Providing Black and Latinx founders with community, education, and resources for building tech companies when they’re cash-strapped.

Aspen Institute AILAS Program —

Raises awareness, transform perceptions, and move people to action in support of Latino civic engagement, educational attainment, and economic advancement.


8. Latinx podcasts

Basic Brown Nerds

LatinxAmerica —

LatinxAmerica highlights catalysts who are using, leveraging, creating, or investing in Tech to impact issues relevant to the Latinx community.

Adelante, Juntos —

A podcast featuring the stories of Latinx executives in Silicon Valley. Created by Latinx professionals, FOR Latinx professionals.

Latinos Who Tech —

A podcast made by Latinos and Latinos that work in science and technology.

Latino Founder Hour —

A podcast where hosts talk to Latino founders from around the world and explore insights and personal stories of success and failure.

Rewriting the Playbook —

A podcast by black and brown founders.

Basic Brown Nerds —

A podcast celebrating black and brown people tired of being model minorities all over the US and formerly colonized countries.

De Raiz a Flor Podcast —

A podcast that chronicles the inspiring stories of Latina entrepreneurs who have blossomed into fierce leaders of their communities.

Latina to Latina —

A podcast that talks about everything, from growing their companies and careers, caring for their families, and breaking down the systems that keep many Latinas out.


9. Latinx events

LatinX Tech Summit —

LTX Fest —

4-day virtual experience curated for Latinx professionals in tech and social justice. Date: Oct 13–16, 2020

Techstars Startup Weekend LatinX —

We’re gathering 900 Latinx entrepreneurs in the making and allies over 54 hours, in different cities to identify and design technology solutions to problems disproportionately facing the U.S. Latinx community.

L’ATTITUDE Conference —

L’ATTITUDE is the only business and media event focused on The New Mainstream Economy, driven by US. Latinos.

LatinX Tech Summit —

The Latinx Tech Summit began with a bold mission to increase Latino representation in the tech workforce.

This post was originally published on August 1st 2020 on Medium.

The post Where Latinx Founders Can Find Funding, Resources, and More appeared first on POCIT. Telling the stories and thoughts of people of color in tech..