CODE2040 and Google for Entrepreneurs Partner to Launch Entrepreneur-in-Residence Program at 1871

CODE2040 and Google for Entrepreneurs Partner to Launch Entrepreneur-in-Residence Program at 1871

CHICAGO (February 2, 2015) - As a part of our longstanding commitment to creating access, awareness and opportunities for top minority talent, CODE2040 is launching the CODE2040 Residency, powered by Google for Entrepreneurs. This is an exciting new initiative focused on boosting the pipeline of Black and Latino/a entrepreneurial talent and creating diverse tech ecosystems in select locations around the country.

"The Entrepreneur-in-Residence program provides another important resource at 1871 to support underserved communities across Chicago," said 1871 CEO Howard A. Tullman. "CODE2040 and Google for Entrepreneurs have been incredible partners, and we look forward to growing our relationship as we work together to foster opportunities for underrepresented groups in the entrepreneurial and technology communities."

As part of our pilot, we’ll be selecting and supporting an Entrepreneur-in-Residence in three cities around the country, partnering with local tech entrepreneurship hubs to bring our vision to life.  We’re excited to launch the CODE2040 Residency at American Underground in Durham, North Carolina, Capital Factory in Austin, Texas, and 1871 in Chicago, Illinois. The EIR will receive a year of support through CODE2040 and Google for Entrepreneurs’ NextWave campaign. Our aim is to help the selected EIR grow a sustainable business that will impact the local economy while also assisting him or her to create programming designed to build a stronger and more diverse local entrepreneurial ecosystem.

Each Entrepreneur-in-Residence (EIR) will receive:

• $40,000 in seed capital to help grow their business (no equity will be taken)
• work space in the partner Tech Hub in their location (Austin, Chicago, or Durham)
• a trip to the Googleplex in Silicon Valley for Google- and CODE2040-led training and networking
• mentoring by experienced entrepreneurs in the Google for Entrepreneurs and CODE2040 networks
• support from CODE2040 on the creation of community  impact through diversity, inclusion, and community building events throughout the year

The EIR in each Tech Hub will play a critical role as CODE2040 looks to support minority entrepreneurial talent around the country.

“We're really excited to be partnering with the Google for Entrepreneurs NextWave Campaign to support the development of diverse entrepreneurial ecosystems nationwide,” said Jason Towns, Director, CODE2040 Residency. “Each EIR will get the resources needed to grow her/his venture as well as the support needed to help boost the pipeline of minority entrepreneurial talent in their community.”

In order to be eligible for The CODE2040 Residency, applicants must:

• Self-Identify as a Black or Latino/a
• Be a current resident of the city in which they will be an EIR or a previous resident with an intent to relocate
• Be a founder of an early stage tech venture
• Be committed to impacting the racial, ethnic, and gender makeup of their local tech sector

Applications will be open from February 2 to February 17, 2015. To apply, visit www.code2040.org/entrepreneurs.