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Empowering Diverse Tech Startups in LA
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Plug In South LA, founded by Derek Smith, nurtures Black and brown tech entrepreneurs by offering a 12-week program with workshops, mentorship, and investor demo days. Successful companies like ChargerHelp have secured significant funding and contributed to job creation in the community. The incubator is shifting to an equity-based model, aiming to invest in startups and acquire a 5% equity stake.
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How might the equity-based model adopted by Plug In South LA influence traditional funding structures for startups?
What role can initiatives like Plug In South LA play in fostering diversity and innovation in the tech industry on a broader scale?
What specific challenges do Black and brown entrepreneurs face in accessing funding, and how is Plug In South LA addressing these issues?
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