A new effort aims to address the underrepresentation of diversity in the venture capital sector. According to a press release sent to AFROTECH, pre-seed accelerator Nex Cubed will tag team with nonprofit organization HBCUvc to establish a Venture Scouting program.

The rise of support for HBCU communities is in overdrive this year. Nex Cubed — a leader in early-stage innovation and startup acceleration — has successfully launched a first-of-its-kind venture that is helping HBCU students and recent alumni develop business mindsets. Last year, the company created its HBCU Founder’s Program in an effort to provide those students and alumni access to the financial and advisory resources needed to help them develop technology-based enterprises, a press release shares. According to Nex Cubed, the objective for the inaugural program aims to offer support for these individuals in several key areas, including financial services, education, digital health, and real estate — all identified as key social determinants that are in dire need of systemic reform with the help of technology. Since the start of its program, Nex Cubed has been able to work with over 350 students across 50 HBCUs while leading weekly programming since September 2020. This...