Nex Cubed, the venture accelerator known for its commitment to fostering diversity and inclusivity in the startup ecosystem, has announced a new partnership with HBCU.vc, a non-profit organization focused on empowering students and alumni from Historically Black Colleges and Universities (HBCUs) in the field of venture capital.
Key Takeaway
Nex Cubed has partnered with HBCU.vc to launch a venture scouting program aimed at training the next generation of black venture capitalists. This collaboration seeks to provide students and alumni from Historically Black Colleges and Universities with the resources and support they need to succeed in the tech industry. By offering real-world experiences and mentorship, this program aims to increase diversity in venture capital and provide underrepresented founders with equal opportunities.
Building a Pathway to Success
With the aim of training the next generation of black venture capitalists, Nex Cubed and HBCU.vc have joined forces to create a venture scouting program. Rather than creating a standalone program exclusively for HBCUs, Nex Cubed chose to collaborate with HBCU.vc to offer its fellows a unique opportunity to gain real-world experience by working with a prominent venture capital firm. This collaboration is expected to open up new avenues for HBCU students and alumni to tap into the tech industry by providing them with the necessary resources and support to level the playing field.
The Benefits of Scout Programs
Scout programs function as valuable platforms for aspiring investors to establish valuable networks and track records while granting firms access to promising talent and potential investment opportunities. Through this particular scouting program, HBCU.vc fellows and its alumni will be mentored in various aspects of venture capital, including performing due diligence and drafting investment memos. In an industry where Black founders receive less than 5% of all investments, programs like these play a crucial role in increasing diversity and ensuring that marginalized entrepreneurs are given the support they need to succeed.
Nex Cubed’s commitment to fostering diversity and inclusivity extends beyond this partnership. Other initiatives in the industry, such as the Historical Fund’s investment in HBCUs and investor Lo Toney’s efforts to encourage venture capital firms to accept HBCUs as limited partners, have also contributed to creating a more equitable startup ecosystem. Recognizing the importance of HBCUs as incubators of Black talent, Nex Cubed aims to ensure that these institutions are not overlooked when sourcing tech and business talent. With over 100 HBCUs in the United States, these institutions graduate a significant number of African-American STEM students.
The newly announced HBCU.vc x Nex Cubed program is now accepting applications from students and alumni interested in pursuing a career in venture capital. This program is a promising opportunity for aspiring investors from HBCUs to gain firsthand experience and contribute to the future of innovation.
