2023–2024 DivInc Impact Report
Another Year Uplifting & Advancing Innovators
A Year of Resilience
This past year we deepened our impact by expanding accelerators, launching initiatives that push genuine innovation, and strengthening the ecosystem fueling brilliant founders to thrive across important industries.
2023 – 2024 Impact at a Glance
TechForward Outcomes
With each cohort accelerator, we are seeing more portfolio companies move to Seed Stage or Series A. Since 2016, DivInc has worked tirelessly to broaden the startup ecosystem to encapsulate the real world around us. Our mission propels us to uncover new terrain, new opportunities, and new energy.
A Message from Our Fearless Leader & CEO
“ As we look ahead, we remain committed to scaling our impact, forging deeper partnerships, and standing firm in the face of opposition. Together, we are proving that investing in underrepresented founders is not just a matter of equity—it is a strategy for driving economic growth, wealth creation, and innovation. Thank you for being on this journey with us. The work continues, and we invite you to stand with us as we build a more inclusive and prosperous future.”
Preston L. James, II
CEO & Founder, DivInc
About DivInc
We are on a mission to generate social and economic equity through entrepreneurship. We envision an authentically diverse and equitable world where social and economic disparities no longer exist.
Programs
Creating programs for future innovators & founders
Forging the Future
The inaugural Internship Program, launched in partnership between DivInc and Blackstone LaunchPad, was designed to connect emerging student talent from HBCUs and HSIs with innovative startup companies within our portfolio. Over the course of 10 weeks, from June to August 2024, the program placed 30 student interns with 13 startup companies, igniting mutual growth and development for both the interns and founders.
Celebrating Wins
Transitioning from the pandemic, DivInc evolved from a place-based entrepreneur support organization to a hybrid national organization, focusing on industry vertical accelerators. Our strategic decision to grow our programming from our hometown of Austin to Texas’ largest metropolis proved to be a smart one. Since 2022, cohorts 10 to 14 benefited from hybrid programming between Houston and their home cities.
Listening, Learning, Building Together
The 2024 Sports Tech Accelerator was a tremendous success, bringing together an innovative cohort of ten startups pushing the boundaries of sports technology. We were especially proud to support four women-led portfolio companies, highlighting our commitment to fostering diversity and inclusion in the industry.
Community Engagement
Community is the Backbone of DivInc.
Founders want capital and practical business knowledge to grow, to be sure. But any successful founder will tell you their mentors, advisors, peers, and network were the most integral influences on their ability to weather the storms of entrepreneurship.
Driving Economic Mobility
NBA Foundation During AfroTech
Finance
Continuing to Maximize Impact Across the Nation
This year has been another year of mounting pressure for nonprofits with increased demand for services while operating under resource constraints. According to the Nonprofit Trend Report, fundraising surpassed staffing challenges for the first time in four years.
Loss of Funding
- Overall Support: ↓38%
- Corporate Funding: ↓93%
- Federal Funding: ↓100%
- Individual Donations: ↑79%
- Corporate Foundation Grant: ↑25%
- Private Foundation: ↑100%
Progress Beyond the Pitch
Despite ongoing resource challenges and reduced operational funding, DivInc remains committed to maximizing impact within available resources. Thanks to the kindness and generosity of our entire ecosystem, DivInc has been able to continue leading the way in empowering diverse founders and driving the innovation economy.
A Closing Note to Our Community
Dear DivInc Family,
As you have read through this report we hope you have seen not only the milestones we have achieved together but also the deeper story. It is the story of a resilient and determined community rewriting the future of entrepreneurship. The founders, students, partners, and allies highlighted in these pages are living proof of what is possible when equity and innovation go hand in hand.
Together we rise. Together we build. Together we will change the face of innovation.
With gratitude and resolve,
Preston L. James, II
CEO & Founder, DivInc