Each year, digitalundivided (DID) releases an infographic highlighting the demographics of each cohort of our BIG Incubator program, based in downtown Atlanta. The BIG Incubator received 120 Black and Latinx women applicants for 20 spots in our incubator program, an increase of 25% from last year.
Applicants mostly came from these cities: Atlanta, New York City, Washington D.C., Detroit, and Los Angeles. Except for Detroit, these were all the top cities from last year’s applications as well. We also had a number of applications from outside the US (UK, El Salvador, and Jamaica).
While the largest single group of founders came from Atlanta, over 70% of the applicants came from outside Atlanta. The strength of the BIG brand and our reputation of using human-centered design in building out our program has created a strong pipeline of applicants into our program. This allows us to circumvent the challenges others have in finding and developing Black and Latinx women founders.
A majority of applicants were at the idea stage. Most had co-founders (86%). However, only 36% of them had experienced working in a startup before, and less than 5% of them have raised money (ranging from $200,000 to $850,000.).
In contrast, of the 2016 applicants, 64% have co-founders, while 68% have worked in a startup before. Reflecting the difference in target company stages, 38% of last year’s cohort already had sales.
The women came from many different schools across the country, with the following producing the most applicants for this year’s cohort : New York University, Georgia State University, Harvard University, and University of Pennsylvania.
Our applicants are highly educated, with 37% of them holding a bachelor’s degree, 24% holding a master’s, and 3% holding postgraduate degrees. 18% hold an associate’s degree, while the remaining 18% opted not to disclose their education.
The applicants worked in a diverse number of fields, ranging from photography and aesthetics to accountancy and project management. We had therapists, students, chefs, civil engineers, diplomats, and technicians. A little over 10% had technical skills, often through working as a developer/software engineer.
BIG clearly demonstrate that there are a significant number of Black and Latinx women interested in building sustainable, high-growth companies, IF you know how to reach them.
To learn more about digitalundivided and BIG Incubator, please visit us at digitalundivided.com or email us firstname.lastname@example.org