Business leaders and athletes have teamed up to form a new accelerator group called 100K Ventures to support tech entrepreneurs in Flint, Michicagn.
The firm will invest in early-stage companies in the city in an effort to promote growth among local businesses and help aspiring entrepreneurs. The investment fund will support startups vetted by 100K Ideas, a non-profit that assesses entrepreneurial ideas and helps to take businesses to the next level.
Led by former Wall Street executive Robert Wolf, founding members include NBA all-star Draymond Green, former NFL star Victor Cruz, and journalist and executive producer Soledad O’Brien.
“We’ve all seen and read the sad and tragic stories of what has happened in Flint,” said Soledad O’Brien in a press release. “The truth about Flint is that it’s a city with a deep history of innovation, including the very beginnings of the auto boom in this country. My partners and I believe that with some time and effort that spark can be reignited.”
100K Ventures group hopes to expand their accelerator nationwide and invest in startups in other underserved communities.
“You can’t help but be inspired by the entrepreneurial spirit in Flint,” said former NFL Wide Receiver Victor Cruz. “I’ve been on some great teams, including the 2011 Super Bowl Champs, and the team that Robert and Phil put together is second to none.”
