No Pipeline Problem: Backstage Capital’s Detroit Plans Spark Excitement
Summary
“Innovation and technology in the city are booming, and Detroit startups are attracting capital from Silicon Valley as well as local investors and government.”The intensive program will last about three months, and each participating startup must have a founder who is a member of one of the “underestimated—we don’t call it underrepresented”—groups Backstage serves, she adds.Each startup will get a $100,000 investment in exchange for 5 percent equity, Wheat says, and there will be a “redesigned” non-traditional demo day event at the end to showcase participants’ work.National data released Friday from digitalundivided , which shepherds “high potential Black and Latinx women founders through the startup pipeline,” presents an equally dismal picture.Valeska Toro, founder of Bronx-based Sola Travel , says there’s a simple reason why California and New York have relatively more of them: those states are more intentional about support.