Morgan Stanley has unveiled the expansion of its highly acclaimed Inclusive Ventures Lab in 2023. The renowned accelerator program has selected a remarkable 23 tech startups hailing from North America and EMEA, effectively doubling the size of its previous cohorts.
The Inclusive Ventures Lab, a five-month initiative, is tailored to empower underrepresented founders operating in the post-seed to Series A funding stage. With an astonishing 7,900 applications pouring in, this year's chosen startups span a wide spectrum of disruptive technology sectors, including healthcare, sustainability, customer service, supply chain optimization, recruiting, and cybersecurity.
What sets this program apart is Morgan Stanley's unwavering commitment to propelling these startups to new heights. Each of the 23 selected companies is set to receive a substantial $250,000 investment from the financial giant. But that's not all they will also benefit from invaluable mentorship and access to a wealth of resources.
The overarching goal of the Inclusive Ventures Lab is to catalyze a more equitable investment landscape for underrepresented entrepreneurs worldwide. By extending this opportunity to promising startups, Morgan Stanley seeks to break down barriers and level the playing field in the tech startup ecosystem.
The impact of this program is tangible, with previous cohorts collectively raising an impressive $207 million in additional funding. It's a testament to the effectiveness of this accelerator in nurturing startups and positioning them for success.
The journey for this year's participants doesn't end with their selection. The program is set to continue its rigorous programming until February 2024, culminating in a global Demo Day. This event provides a platform for these startups to showcase their innovations, captivating potential investors and partners from across the globe.
It's worth noting that the Inclusive Ventures Lab has earned recognition for its exceptional work. It has been showered with accolades, including Gold Anthem Awards, and has secured a coveted spot on Global Finance's Best Innovation Labs listing.
In a world where diversity and innovation are paramount, Morgan Stanley's Inclusive Ventures Lab is leading the way, empowering underrepresented founders, and propelling promising startups toward success. With its expanded reach and unwavering commitment, the impact of this accelerator program is poised to resonate across the tech landscape for years to come.
