Our Time Is Now

Guest Post by William Crowder, Managing Director, DreamIt Ventures

It seems that the economy’s engine is starting to churn again.  More importantly, technology and Internet companies seem to be coming alive as well.  Startups founded a few years ago are now taking center stage with a series of high profile IPOs. The last time we experienced a wave of startup growth, minority entrepreneurs were largely left out of the picture.  In a time and country where the number of minorities is growing significantly each year, we cannot watch this happen again.  As a member of DreamIt Ventures, a Philadelphia-based startup accelerator, it is my job to make sure history does not repeat itself. 

DreamIt operates accelerators for startups.  We work with great and talented entrepreneurs to help them build great companies. Our accelerator was designed to be the startup program thatthe founders wish existed when they started and sold their first companies. It creates a collaborative environment in which fellow entrepreneurs can share ideas, inspire each other, and push each other to higher levels of success. Accelerator participants receive excellent coaching and mentoring from experienced entrepreneurs.   They receive legal and accounting services when needed without having to burn precious cash.  For the startups’ founders this also means an opportunity to refine their business models and ultimately pitch their companies to an investment community of angels and venture capitalists. 

Recently, we announced a new component of our Fall 2011 accelerator, the Minority Entrepreneur Accelerator Program (MEAP) sponsored by Comcast.  The Comcast MEAP hopes to introduce and attract more minority-led startups and entrepreneurs to the accelerator concept and ultimately position these promising companies for significant success and growth. Through MEAP we will be providing a more diverse collection of mentors, guest speakers, and investors that can offer different perspectives to enhance the entire accelerator program.  With Comcast as our partner, the five selected companies will have access to additional mentors and advisors with deep operational experience and Comcast's vast resources and capabilities in the media space.  All of these work together to create an unmatched growth experience for the entrepreneurs and the companies they are building.  

I see this asa significant step forward toward changing the face of high growth potential entrepreneurship in our country. I am extremely excited about leading this program for DreamIt and about its potential impact. Through commitments and programs like this we have a greater chance of seeing the next Facebook, LinkedIn, etc. being owned and led by minority founders.  The more visible and successful minority-led startups are, the more attainable the results appear, and the greater the likelihood those entrepreneurial paths will be followed by others.   

So indeed our time is now. Now is the time to get into the startup game. Let’s not allow the next wave of creating life changing businesses pass us by. This time we must participate, direct, and lead.

To all Startup America entrepreneurs, I invite you to take a look at the DreamIt Program (details are here).  If you are a minority-led company, be sure to take a look at the Comcast MEAP. The application deadline for our Fall 2011 accelerator is July 8th.  If you have a high growth potential business, particularly one that attempts to solve a market need and leverages technology, digital media, social networking, etc. I strongly urge you to consider what being a part of an accelerator program like DreamIt’s can do for you and your new venture.