Backstage Capital has just announced plans for an ambitious accelerator program that kicks off in four cities starting Spring 2019.
Much like the big-name accelerators (Techstars, 500 Startups, and Y Combinator, among many others), the new Backstage Accelerator will invest $100K in scalable startups in exchange for 5% equity.
The goal is for the 3-month program to give diverse founders the vital support they need to get to the next level. Founders will work closely with a team of facilitators to grow through mentorship, investment capital, and access to resources.
The inaugural cohorts will launch in London, Los Angeles, and Philadelphia. A fourth city will be determined by popular vote.
Wayne Sutton and Melinda Epler of Change Catalyst will team up with the Backstage Crew to help develop the programming and the local startup ecosystems for each of the accelerator cohorts.
Backstage Capital is a venture capital fund that invests in new companies led by underrepresented [women, LGBTQ, and people of color) founders in the States and elsewhere.
Read more here.