Techstars and JP Morgan are working together to invest in hundreds of Latino startups in the US.
Investments in Latino businesses is disproportionately low, coming in at a mere 2% in the US, according to The Houston Chronicle. Techstars is trying to change that, working with JP Morgan to invest in 400 Latino businesses in nine US cities.
One of the key factors for investment will be founders who understand their customers, and are working to address their needs.
“Having a deep understanding of customer pain and an extraordinary ability to execute quickly are the criteria that weigh the most when evaluating the quality of a team,” says Andrés Barreto, Managing Director of Techstars Miami Powered by JP Morgan. “Founders obsessed with their customers’ pain are more likely to find it and solve it.”
The investment program will provide training to founders to help them close financing rounds, hire the best talent, and manage future growth.