Here at Colorintech, we’ve spent the last few years helping underrepresented founders on our Rise pathway. Specifically, we have 2 main goals:

1. Get more folks from underrepresented backgrounds into tech entrepreneurship.

2. Help underrepresented startup founders increase their chances of success. 

 

As a non-profit accelerator programme, we have had 4 cohorts of founders who have collectively raised over $7.5m to date! Our 5th edition is opening applications now until the 12th of January. 

 

We’re supported by organisations like Silicon Valley Bank, Atomico, Forward Partners and Microsoft, which ensures that Rise is also completely free for our applicants. It’s important to us to reduce barriers to entry for our community to ensure we’re reaching those goals!

 

So now, we’re on the lookout for early-stage tech startups with a proven need for their business to take part in this exciting opportunity. 

 

Consisting of 3 sprints, 2 online and 1 in-person, our updated programme is a practical, workshop-focused, growth-oriented solution for dedicated underrepresented founders who have proven there is a real need for their solution. Culminating in a showcase to investors, experienced founders, and other key players, we have the perfect opportunity to help an early-stage startup succeed.

 

So what does the programme do for you? We’ll be:

1. Getting you in front of investors, and pitching you to them ourselves.

2. Training you through in-depth, practical workshops, and providing you with activities to complete to accelerate your growth.

3. Connecting you to relevant individuals and helping you grow your network.

4. Providing you with 1:1 office hours with expert organisations.

5. Improving your startup’s visibility by marketing you and your startup through out channels.

 

If you’re interested in applying - here are a few things to keep in mind:

- Be ready to prove you have some traction. This means that you have some early users who love your product, even if they aren’t paying you yet. You need to have shown that you can get out there and talk about a product that people love and are using.

- You’ll need to demonstrate market need. This means that even if people love your product, you need a large enough market to expand into one day. There need to be enough customers so that, even if you only had 1% of your market, you are able to have strong revenue. 

- Your startup must be “VC Backable”. A lot of businesses aren’t right for VC funding. If you can answer YES to the question ‘Do you see your startup being able to turn over $100m in 10 years?’, then you’re on the right track. (You need to be able to qualify that though.)

- You need to be available for all the dates. Listed on www.colorintech.org/rise

 

If you want some more advice from investors and successful entrepreneurs about what these things mean, you can read some posts we wrote for Startups Magazine earlier in 2022: https://startupsmagazine.co.uk/article-what-early-stage-vcs-think-about-traction

 

So click the link to apply today - applications close on January 12th at 11.59pm, 2023: https://www.colorintech.org/rise

 

Who should apply?

- You identify as belonging to an ethnic minority.

- You have a demo-stage to MVP-stage product that has demonstrable traction, even if it is unpaid traction, that uses technology to solve a real problem.

- You have raised no more than $250K (or equivalent) in funding.

- You have proven commitment to your startup that shows your enthusiasm and work ethic.

- You can commit to the 15-week programme and building your business while on the programme (6 hours a week minimum) 

- You are based in the EMEA region and speak English. 

 

Learn more and apply!