MIAMI – March 30, 2017 – NewME, a technology accelerator focused on underrepresented minorities in the tech industry, has announced the relocation of its headquarters from Silicon Valley to Miami with $191,000 in support from the John S. and James L. Knight Foundation. The support will also help NewME expand existing programming focused on providing entrepreneurs with the advice, skills and access to resources that will support their success.
Since its inception in 2011, NewME has accelerated hundreds of entrepreneurs through its online platform, residential boot camps and equity portfolio, helping its companies raise over $25 million in venture capital. By expanding its programming, NewME aims to improve the success of black-led startups through mentorship, coaching and community convenings. Through the program, black entrepreneurs and their businesses will further learn from and be exposed to angel and venture capital investors, along with NewME’s professional investor network.
NewME will target both local and global talent through weekly programming and monthly events, and connect them to online resources through the NewME platform. In addition, the accelerator will host quarterly one-week residential boot camps, which bring together a select group of tech entrepreneurs from around the world; industry experts then work with entrepreneurs to help accelerate their businesses.
Four of the slots available in four upcoming boot camps will be exclusively for underrepresented minority entrepreneurs in Miami. Additionally, NewME will hire a Miami-based program manager who will support the growth and sustainability of local black and other underrepresented minority-owned businesses.
“Relocating NewME to Miami was a natural choice given its diverse makeup,” says Angela Benton, founder of NewME. “Miami is already an international hub for innovation and the local community is rich with talent. I’m excited to continue my work with NewME in our new, inclusive home.”
Landing the No. 2 spot on the 2016 Kauffman Index of Startup Activity, Miami is one of the most entrepreneurial cities in the U.S. with the highest startup density in the country. Today, with its new headquarters in Miami, NewME will continue its work in a growing, culturally inclusive environment designed to incubate innovation in minority-led companies.
“Miami has seen tremendous progress in building a connected community of entrepreneurs over the last four years. Our future success hinges on ensuring that all our residents are part of this growth,” said Matt Haggman, Miami program director for Knight Foundation. “NewME will provide important opportunities for black entrepreneurs to grow and thrive in Miami. NewMe’s move to Miami highlights our city’s strength as a place for inclusive growth, entrepreneurship and innovation.”
Funding for NewME is part of Knight Foundation’s efforts to invest in Miami’s emerging innovators and entrepreneurs as a tool to build community, while fostering talent and expanding economic opportunity. Over the past four years, Knight has made more than 200 investments in entrepreneurship in South Florida.
For more information on upcoming programs and events, visit newme.in.
About NewME
Founded in 2011 by Angela Benton, NewME has accelerated hundreds of entrepreneurs through our online platform, residential “boot-camp” accelerators and equity portfolio. We pioneered diversity in Silicon Valley by focusing on helping entrepreneurs identify strengths from their non-traditional backgrounds and leveraging them in business. We’ve helped hundreds of entrepreneurs build better businesses some of whom have raised venture capital funding ($25+MM to be exact).
About the John S. And James L. Knight Foundation
Knight Foundation is a national foundation with strong local roots. We invest in journalism, in the arts, and in the success of cities where brothers John S. and James L. Knight once published newspapers. Our goal is to foster informed and engaged communities, which we believe are essential for a healthy democracy. For more, visit knightfoundation.org.
Contacts:
Christina Rice, LuxeLife Media, Inc., 646-373-8634, [email protected]
Anusha Alikhan, Director of Communications, John S. and James L. Knight Foundation, 305-908-2646, [email protected]