Techstars tapped Detroit entrepreneurial leader Monica Wheat to lead its Equitech Accelerator as managing director (MD). Wheat is the co-founder and executive director of Venture Catalysts, a nonprofit ecosystem development group focusing on programming, funding, strategy and business development for entrepreneurs. Since its inception in 2016, the nonprofit has been putting on large-scale events and strategic programs. Most notably, Venture Catalysts helped Backstage Capital launch their global accelerator program in Detroit, Los Angeles, and London. Wheat told AfroTech it’s been a challenge running an events nonprofit during the pandemic. While she was grateful for all the new business rolling in, Wheat said her team did get overwhelmed. “We doubled and tripled down on our deal flow and connections and did strategy sessions and programming throughout 2020 and 2021,” Wheat said. “We are mostly a volunteer organization and I must hype the praises for my team who did so much to help...

Incubators and accelerators both offer resources for startups and small businesses to successfully develop and grow. Although the terms are sometimes used interchangeably, incubators and accelerators provide different services and benefits. And not all startup programs can be classified as either, said Ian Hathaway, research director at the Center for American Entrepreneurship. “There is a lot of noise in the early-stage business support market — a lot of different models and inconsistency in terminology,” Hathaway said. Incubators and accelerators both provide mentorship, technical assistance and, in some cases, funding opportunities. Incubators typically offer long-term support (possibly spanning several years), and are available to a broad range of companies. On the other hand, accelerators are generally short-term, industry-specific programs for startups. Editorial Note: This content is not provided or commissioned by any financial institution. Any opinions, analyses, reviews or...

Target Retail Accelerator and Techstars are teaming up for another year to help startup companies in retail. The program is usually US based, but this year it’s going international. Target will be working with METRO, a Germany-based wholesale company, to conduct a 14-week program for founders abroad. Each startup in the program receives $120,000 and will split time between Germany and Minneapolis. Target and METRO are sharing the cost of the investments for the companies. The first three weeks of the program will take place in Berlin and the following  three weeks will be in Minneapolis. Founders can choose which location to work from for the remaining weeks of the accelerator. The program is from May until August and application are due February 24. For more on how to apply check out the application here.  

The Dark and Lovely/ She leads Africa Beauty Accelerator has applications open for its 2018 cohort. She leads Africa is an online community working to assist women entrepreneurs through events, programs and content. The 10-week entrepreneurship development program selects early-stage companies in the beauty industry and provides access to business coaches and other mentors for the selected companies. Entrepreneurs will also receive intense training in business strategy, branding, growth marketing and finance, and will have the chance to network with beauty influencers. The accelerator is looking for businesses across media, technology, retail and more. Businesses looking to apply must be based in Côte d’Ivoire, Ghana, Kenya, Nigeria or South Africa and must also have at least one female founder. Companies that have received more than $50,000 in funding or have been in business for more than three years are not eligible to apply. Last year’s cohort included companies like FreshMe, a...

This year, the newly branded Snap Inc. released new versions of their Spectacles and a Snap Map to help you find your friends and events going on around the globe. But their most exciting announcement comes in the form of Yellow, the company’s startup accelerator that aims to uplift people with visions for what mobile storytelling can be. Snap announced that each year they will choose individuals and teams to join their three-month program starting on September 10 where participants will have access to the tools needed to grow their businesses and put their ideas to work. Both established and aspiring storytellers with big ideas should apply to the accelerator. A total of 10 applicants will be accepted in the first go-around of the accelerator. The program will offer $150,000 for equity on “founder-friendly terms,” commercial support and partnerships, mentorship from industry veterans, networking events with other creatives and media luminaries and a creative office space in Venice,...