coLab partnered with MIT and Verizon on an ambitious pre-accelerator program to improve representation in technology, and ensure that the next generation of entrepreneurs and innovators is diverse, vibrant, and representative.
coLab, MIT and Verizon have always agreed that the best innovation happens when you improve representation and expand the profiles of technologists building on emerging technology platforms. We all knew it was critical to ensure that the next generation of innovators represented the populations they served. Recognizing this important fact led us to begin the process that resulted in the launch of the All In Accelerator in Palo Alto.
As coLab began working to build Verizon’s 5G innovation ecosystem in 2019, we noticed a problem – a lot of our innovators looked the same. coLab has always been committed to cultivating one of the world’s most diverse innovation networks, but we were still seeing that the pipeline of 5G founders was not as robust as we knew it could be. We challenged our team to think about what was truly possible, to ensure that we were contributing to a more equitable future in technology. How could we build a stronger funnel of diverse founders working on technology in this area? How can we better support and amplify emerging startups with an emphasis on diversity, equity and inclusion?
We developed and launched a 3-month fellowship and pre-accelerator focused on supporting underrepresented tech founders with early stage concepts. We identified this as a critical development point for underrepresented founders working in emerging areas of the tech ecosystem – if we were able to get the founders the support they needed early on in the process of building their businesses, we could improve representation and outcomes further down the line. We focused on providing companies with workspace, programming for idea and early stage companies, and curated mentor matching with facilitation from the coLab team. Participants received three-month sponsored membership at Alley powered by Verizon Palo Alto, access to a dedicated workspace and community specifically designed to support them while building their ideas into a business. coLab created a calendar of weekly events, workshops, office hours, networking opportunities, and venture matching. Participants also had direct access to industry experts sourced from our community, while mentors and workshop leaders worked to provide guidance and support throughout the program. With an additional layer of curated programming to help them build their ideas and introduce them to industry experts, our startups were able to accelerate their growth faster than anyone thought possible.
"…actually, we started the company from Alley and we had an amazing time with the community and the people and then about a few months ago, we separated from the space because it was time for us to grow our company. When we joined the fellowship and the space we were only two people and now we are 22 people globally— in Mountain View, California and Shenzhen, China, we are also expanding the team all over the world, which is very exciting. "
— Elnaz Sarraf
Founder & CEO, ROYBI
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