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Morgan Stanley Announces Its New Multicultural Innovation Lab Cohort Members

Across industries, a lack of funding for women or minority-led startups seems to be a common problem. For example, Project Diane found that Black women founders in tech are consistently underfunded. Investment bank Morgan Stanley aims to combat funding inequity through its Multicultural Innovation Lab. The accelerator program is designed to help women and minority-led companies in the post-seed to Series B funding rounds. On Monday, Morgan Stanley announced the ten startups selected as apart of the Multicultural Innovation Lab’s third cohort. Some of the startups selected include LookLive, SmartGurlz , and Jenzy. It’s a big deal for businesses to be selected, because they receive access to a list of Morgan Stanley resources and networks. Morgan Stanley also invests into each cohort member. In a press release, Co-Head of the Multicultural Innovation Lab Alice Vilma said: “There is a compelling business case for investing in startups led by women and multicultural founders, yet, as...

Arriana McLymore

Apr 30, 2019