Applications are open for the Amazon Web Services Impact Accelerator Latino Founders cohort

by Keely O'Neill | on

Amazon Web Services is launching the next Impact Accelerator cohort, giving pre-seed Latino founders the support they need to accelerate their businesses.

It’s almost been a full year since the  Amazon Web Services Impact Accelerator  launch— a $30 million fund that provides Black, Latino, women, and LGBTQIA+ founders with equitable access to funds, training, mentorship, tools, and resources.

Today, Amazon Web Services launched applications for the next cohort— Latino Founders . While Latinos represent a key component in the makeup of the US population, they are still among the communities that receive less funding and support for venture capital. Even at its peak in 2021, US venture invested only 2.5% ($8.5 billion) in Latino-founded companies, according to Crunchbase . Through Q3 2022, funding to US-based Latino-led companies dropped to $2.7 billion , which is only 1.5% of US venture dollars. This pullback in funding to Latino founders in the US took a sharper downward turn than the broader slowdown in venture capital in the US market, which was down more than 50% year over year for funding in the same timeframe.

On the other side of the table, Latino investors make up only 2% of the venture capital industry relative to 19% of the US population, according to LatinxVC’s State of the Latino/a VCs annual report. By partnering with Latino-led venture capital firms like LatinxVC and VC Familia , the Amazon Web Services Impact Accelerator is providing programming and mentorship to help Latino founders overcome bias and lack of representation prevalent in the venture community.

Lolita TaubLolita Taub is a Latina General Partner at Ganas Ventures, investing in community-driven companies and changing the face of the startup-venture capital tech world. When asked why this mission is so important to her, she reiterated that we need more resources and programs to support Latino-led startup founders and fund managers, adding,

“The Latino market is equivalent to the 7th largest economy in the world and represents over $2.3 trillion in new opportunity for our community and our wallet!”

Tailored benefits

Over the course of eight weeks, selected startups accelerate growth by developing their ventures alongside Amazon Web Services technology experts, investors, and partners. To further their growth, startups receive a $125,000 unrestricted cash grant and $100,000 in Amazon Web Services Activate credits—all at zero cost and for zero equity. Startups also gain access to the alumni community of 50 previous Amazon Web Services Impact Accelerator participant startups and over 200 founders, CEOs, CTOs, and mentors from the Black Founder and Women Founder cohorts.

Members will learn how to navigate the fundraising process with sessions such as Overcoming Bias in Fundraising and Effective Storytelling on the Path to Raising My Seed Round. Through these sessions and more, they’ll hear firsthand from those that have successfully raised funding rounds despite the lack of representation or investors that may not identify with their market. Lolita Taub will also lead a session about building investor relationships and pipeline, and share her perspective as one of the investors looking to change the current funding disparities.

How to apply

New for the Amazon Web Services Impact Accelerator Latino Founders cohort, applications are open to founders located in the US and Latin American countries, as long as their startup is incorporated in the US If you’re interested in applying, get started early. Applications are open March 6 – March 17, 2023, with limited space available. Submit your application here , and don’t forget to review the FAQ and terms and conditions for the full list of qualifying criteria.

For those new to the accelerator application process, we’re hosting two in-person informational sessions at the Amazon Web Services Startup Lofts during launch week. Join to hear from the Amazon Web Services Impact Accelerator team, understand timelines and expectations, and meet with alumni members.

  • San Francisco Loft | Thursday, March 9 at 3:00 PM PT
  • New York Loft | Thursday, March 9 at 3:00 PM ET

Apply today

The Amazon Web Services Impact Accelerator gives high-potential, pre-seed startups the tools and knowledge to reach key milestones, such as raising funds or acceptance into a seed-stage accelerator program, while creating powerful solutions in the cloud.

Applications are now open for Latino Founders seeking to accelerate their startup’s growth from 0 to 60 in eight weeks. Apply online today .

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