AWS Commits $30M for Underrepresented Early-Stage Founders

Early-stage startups led by Black, Latino, LGBTQIA+ and women founders can apply for more than $30 million set aside by Amazon Web Services (AWS) as part of its new AWS Impact Accelerator. The first program, the AWS Impact Accelerator for Black Founders, is now open for applications.

Each qualifying startup will receive $125,000 in cash, up to $100,000 in AWS Activate credits, business and technical guidance, a peer community and ongoing support, according to a press release Wednesday (April 20).

As part of its three-year commitment to the program, AWS will back several programs with both guidance and funding to help the founders develop successful firms. The founders will also be introduced to Amazon leaders and teams and have chances to network with potential investors.

“When we launched in 2006, AWS changed the game for startups by giving them access to the same technology as the world’s largest enterprises,” said Adam Selipsky, CEO of Amazon Web Services.

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“We continue to level the playing field so that founders can pursue their ideas and grow successful businesses regardless of gender, sexual orientation, ethnicity, or race,” Selipsky continued. “AWS is committed to helping underrepresented founders succeed and build powerful cloud solutions that capture the attention of investors and customers. The possibilities for these startups are endless, and I can’t wait to see what they create.”

The program runs for eight weeks, and once accepted, participants will develop their own class schedule from a variety of wide-ranging options tailored to their needs, taught by AWS startup experts and guest speakers.

Startups will also be taught how to use Amazon processes such as “two-way door decision making” and “working backward” to help with daily decision making and building the right teams.

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