Tulane University has launched a $10 million fund this month. The fund is designed to invest in women and minority-led ventures across the state.
The fund is designed to help change the narrative around women and minority-run ventures in the early stages of development. Despite record-setting funding rounds closing over the last three years, women and minority-founded startups earn only a fraction of all capital deployed. According to a report from the nonprofit Diversity VC, less than 2% of the $31 billion held by 200 venture capital funds has been allocated to startups with diverse leaders.
Kimberly Gramm, chief innovation and entrepreneur officer at Tulane and head of Tulane’s Innovation Institute, oversees the funding. The average check size will range from approximately $150 – $250,000.
All the latest developments about the program – including eligibility criteria, rules, application FAQs, and provider contact info that will be updated as new providers opt into the program – can be viewed at LouisianaSSBCI.com.