Michigan Founders Fund partners with gener8tor to Launch Pre-Accelerator for Underrepresented Founders
Program begins search for program leader in Southeast Michigan
DETROIT, Michigan – To increase the success rate of startup Michigan businesses from underrepresented communities, Michigan Founders Fund, in collaboration with global venture firm and startup accelerator gener8tor, proudly announces the launch of the inaugural Michigan Founders Fund Pre-Accelerator powered by gener8tor. This accelerator focuses on early-stage companies led by underrepresented founders from any industry.
The new Michigan Founders Fund Pre-Accelerator is a free, seven-week, no-equity accelerator program that provides startup founders personalized coaching and programming alongside access to a robust network of mentors, customers, and investors. The program is tailored to prepare early-stage startups for participation in future equity-based accelerator programs and investment opportunities.
The Michigan Founders Fund Pre-Accelerator will begin recruiting startups in the fall of 2024. More program details will be available after the inaugural Program Manager has been hired. Applications for the new position are open, and interested candidates can apply here.
During its first year, the program will support startups with high-growth potential in Southeast Michigan led by underrepresented founders from various industries and sectors. It will follow the curriculum of gener8tor’s proven global pre-accelerator, gBETA, which has been accelerating entrepreneurs for nearly a decade. Participating companies will receive non-dilutive funding grants and leverage the Michigan Founders Fund's extensive network for further community, mentorship, and growth opportunities.
“This new program helps us fulfill our commitment to building the most diverse ecosystem of funders anywhere in the country right here in Michigan,” said Rishi Moudgil, Executive Director of the Michigan Founders Fund. “Our partnership with gener8tor is an important step in creating more opportunities for underrepresented founders and fostering economic growth here.”
Together, gener8tor and the Michigan Founders Fund aim to bring economic diversity and job growth first to Southeast Michigan–and eventually statewide–ensuring that underrepresented founders receive the resources and support they need to succeed.
“We’re thrilled to partner with the Michigan Founders Fund to bring this program to life and bolster support for underrepresented founders in Michigan,” said Vanessa Huerta, Vice President of gBETA at gener8tor. “We’re excited to hit the ground running and bring truly impactful programming to early-stage founders looking to scale their startups.”
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About Michigan Founders Fund
Michigan Founders Fund is the leading statewide network for high-growth founders and investors. Focused on building a thriving and inclusive entrepreneurial ecosystem through a founder-first culture, members represent a wide range of demographics and regions across the state. More than 150 members have collectively raised over $350 million of investment capital through 15 different industry verticals, while also committed to lifting local communities.
As a 501(c)(3) nonprofit organization, Michigan Founders Fund is composed of founder and investor members who commit 1% equity or carry to a philanthropic fund supporting Michigan’s social sector through local grant-making.
About gener8tor
gener8tor is a global venture firm and accelerator network that supports startups, workers, employers, artists, and musicians across race, place, and gender. gener8tor partners with companies, governments, universities, and nonprofits to operate accelerator programs and conferences in more than 45 communities across 25 states and territories and three countries. Fast Company named gener8tor one of the Best Workplaces for Innovators in 2021 and 2022. The International Trade Council recognized gener8tor as the Global Venture Capital Firm of the Year in 2022.
gener8tor runs the gBETA program as a non-equity accelerator that facilitates the growth of early-stage companies through a network-driven program. Since launching in 2015, gBETA accelerator alumni have raised more than $776M in capital and created more than 4,700 jobs across the U.S. and internationally.