Six-month virtual program provides LGBTQ+ businesses with mentorship, networking, and resources to drive sustainable growth
NEW YORK, July 11, 2022--(BUSINESS WIRE)--Today, StartOut and J.P. Morgan announced the ten companies selected to participate in the StartOut Growth Lab accelerator program. StartOut, the nation’s largest nonprofit organization supporting LGBTQ+ entrepreneurs, launched Growth Lab in 2017 with five participating businesses. Since then, the program has helped 56 early-stage companies raise more than $756 million in funding and create nearly 3,650 new jobs, and counting. As the Steel-level Supporting Partner of StartOut and co-lead sponsor of Growth Lab, J.P. Morgan is proud to help launch Cohort 10 and continue to empower LGBTQ+ business owners nationwide.
"LGBTQ+ entrepreneurs represent one of the most innovative and rapidly growing segments of our nation’s business community, and J.P. Morgan is proud to expand its support for StartOut in its mission to accelerate that growth," said David Barbee, who leads JPMorgan Chase Commercial Banking’s LGBTQ+ initiatives. "We are excited to welcome Cohort 10 to the Growth Lab and know that their growth will catalyze solutions to some of the most pressing issues of the day, from the green economy to enhanced healthcare services and beyond."
The companies selected to join Cohort 10 are:
Carbon Reform (Newark, DE): A manufacturer of modular carbon capture devices for commercial building ventilation systems that improve indoor air quality for occupants, create energy savings for building owners, and directly capture and permanently sequesters tons of CO2 annually
CreatorUp Inc. (Los Angeles, CA): A global video production company that allows clients to instantly purchase custom content from more than 700 video solutions
Global Policy Leadership Academy (West Hollywood, CA): An EdTech start-up that prepares professionals and civic leaders to advance solutions to societal challenges through the development of shared knowledge, best practices, and collaboration
Glyphic Biotechnologies (New York, NY/Berkeley, CA): A biotech startup developing a first-of-its-kind, next-generation protein sequencer to transform the underlying engine of biomedical discovery to move beyond the decades-old technologies based on mass spectrometry and ELISAs
Hydrus.ai (San Francisco, CA): A software company spearheading Environmental, Social, and Governance (ESG) operating systems for enterprise
Innovare (Chicago, IL): An application to empower education leaders to use data strategically to positively impact students and communities
Reya Health (London, Ontario): A digital platform for personalized contraceptive counseling
SmartSuite Tech (Portland, OR): A productivity software company solving challenges in the business presentation industry to modernize speaking notes, workflow and presentation capabilities
StayFi (New York, NY): The global leader in WiFi Marketing & Management services for short-term rentals
Wise Assistant (Atlanta, GA): An all-in-one platform to help creators get their businesses off the ground with easy-to-use marketing and business tools
"In partnership with our co-sponsor, J.P. Morgan, we are thrilled to kick-off Cohort 10 with this impressive group of innovators," said Andres Wydler, Executive Director, StartOut. "The companies who have graduated from the Growth Lab continue to have a substantial impact on their communities. We can’t wait to help accelerate the growth of this next group of passionate entrepreneurs!"
J.P. Morgan’s co-sponsorship of the Growth Lab is an expansion of the firm’s ongoing relationship with StartOut and a part of its broader commitment to supporting LGBTQ+ entrepreneurs.
In 2019, JPMorgan Chase sponsored StartOut’s Pride Economic Inclusion Index (SPEII), as part of the firm’s $150 million Small Business Forward initiative to invest in underserved entrepreneurs. In 2021, the firm’s Office of LGBT+ Affairs, which advances equity and inclusion for LGBTQ+ employees, customers, business partners and communities, announced an additional $500,000 commitment to expand the SPEII, which now provides near real-time, data-driven insights into the US entrepreneurial ecosystem. In addition to the Growth Lab and SPEII, J.P. Morgan provides mentorship for StartOut businesses and co-sponsors the Annual Equality Summit.
"I am proud to further advance our support for StartOut, one of our strategic non-profit partners," says Brad Baumoel, global head of the Office of LGBT+ Affairs. "Through this expanded partnership, we plan to elevate and create true equity for the next generation of LGBTQ+ entrepreneurs."
To learn more about the StartOut Growth Lab, including details on the application process for the next cohort, visit: startout.org/growth-lab.
For more information on the financial solutions available to guide business growth, visit: jpmorgan.com/commercial-banking.
About StartOut Founded in 2009, StartOut, a national 501(c)(3) non-profit organization, is the largest national organization to support LGBTQ+ entrepreneurs with over 21K members nationwide. Its mission is to accelerate the growth of the LGBTQ+ community to drive its economic empowerment, building a world where every LGBTQ+ entrepreneur has equal access to lead, succeed, and shape the workforce of the future. StartOut helps aspiring LGBTQ+ entrepreneurs start new companies; supports current entrepreneurs as they grow and expand their existing businesses; and engages successful entrepreneurs as role models and mentors, on its online portal and through targeted events nationwide. For more information, please visit www.startout.org.
About JPMorgan Chase Commercial Banking JPMorgan Chase Commercial Banking is a business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $4.0 trillion and operations worldwide. Through its Middle Market Banking & Specialized Industries, Corporate Client Banking & Specialized Industries and Commercial Real Estate businesses, Commercial Banking serves emerging startups to midsize businesses and large corporations as well as government entities, not-for-profit organizations, and commercial real estate investors, developers and owners. Clients are supported through every stage of growth with specialized industry expertise and tailored financial solutions including credit and financing, treasury and payment services, international banking, advisory services and more. Information about JPMorgan Chase Commercial Banking is available at www.jpmorganchase.com/commercial.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220711005107/en/
Media Contacts JPMorgan Chase Elizabeth Connerat elizabeth.connerat@chase.com StartOut Jonathan Ochart jochart@thepostcardagency.com
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