San Francisco — Code2040, a nonprofit that seeks to build a stronger, more inclusive innovation economy by closing the diversity gap in tech, opens its 2017 Residency Application today.
While Black, Latino/a students earn nearly 20 percent of computer science degrees, they make up only 9 percent of the technology industry and less than 1 percent of technology company founders. Code2040 aims to ensure that these groups are proportionally represented in all facets of the innovation economy by 2040. This includes helping companies make diversity part of their day-to-day operations by connecting them to a broad pool of qualified people and building inclusive, thriving tech entrepreneurship and innovation ecosystems around the country.
The Code2040 Residency, powered by Google for Entrepreneurs, is designed to empower Black and Latina/o entrepreneurs with unique opportunities to grow their companies while cultivating diversity in their own communities. With support from Google for Entrepreneurs, the Code2040 Residency will operate in eight cities nationwide in 2017, including:
- Capital Factory in Austin
- 1871 in Chicago
- Grand Circus in Detroit
- American Underground in Durham
- COCO in Minneapolis
- The Nashville Entrepreneur Center in Nashville
- Galvanize in San Francisco
- Tech Square in Atlanta
Throughout the year-long program, each founder receives significant support from Code2040, Google for Entrepreneurs and their hometown tech hubs. This support includes: a $40,000, no equity stipend; tech hub workspace for the Resident and their team; quarterly retreats with Code2040 for business and diversity initiative support; a trip to the Googleplex in Silicon Valley and mentoring by experienced entrepreneurs and investors in the Code2040 and Google for Entrepreneurs networks. Using these resources, Residents will grow a company of their own. Additionally, they will collaborate to improve diversity and inclusivity in their city, connecting the local entrepreneurial ecosystem with communities and talent underrepresented in tech and entrepreneurship.
"The Code2040 Residency isn’t just about investing in companies,” Said Laura Weidman Powers, CEO and Co-Founder of Code2040, “It’s about investing in individuals so through their leadership their companies can thrive and grow.”
Applicants can apply at www.code2040.org/entrepreneurs.
CODE2040 is a nonprofit organization that creates pathways to educational, professional, and entrepreneurial success in technology for underrepresented minorities with a specific focus on Blacks and Latino/as. We currently accomplish this through four programs, including our flagship Fellows Program, Technical Applicant Prep, CODE2040 Residency, and the Alumni Program.
About Google For Entrepreneurs
Google for Entrepreneurs provides financial support and the best of Google's resources to dozens of coworking spaces and community programs across 125 countries. We also create Campuses: physical hubs where entrepreneurs can learn, connect, and build companies that will change the world. To learn more about Google for Entrepreneurs, visit google.com/entrepreneurs or follow us on G+ (+GoogleForEntrepreneurs) and Twitter (@GoogleForEntrep).