Softbank seeks start-ups with a diversity background

The Group launches its Emerge Accelerator in Europe. It is looking for women, POC, LGBTQ+, people with disabilities and refugees.

The Japanese conglomerate Softbank and the Austrian VC Speedinvest are jointly launching an eight-week accelerator for European tech start-ups. The program is aimed exclusively at diverse teams. At least one founder from the start-up must identify as a woman, person of color, LGBTQ+, person with disabilities or a refugee. "As an industry, we are missing out on the diverse perspectives that drive real innovation due to a lack of representation," says Catherine Lenson, Managing Partner at Softbank Investment Advisers. "Our first Emerge cohort of founders showed us how much untapped talent there is and inspired us to explore ways we can reach even more through the program."

Softbank had already launched a similar program in the USA last year. There, the bank invested five million US dollars in 13 start-ups. In addition to Speedinvest, the European program also includes the three London-based VCs Breega, Firstminute Capital and Kindred, as well as Berlin-based Cherry Ventures. The New York start-up platform Wework Labs provides support with training and education.

"In order to drive innovation, creating a level playing field for different European founders is no longer just a wish, but a must," says Speedinvest co-founder Oliver Holle. "This program embodies exactly what we love to do - supporting the best early-stage European founders, regardless of their background, and making a real impact on their entrepreneurial journey."

Start-ups that are eligible for seed funding can apply on the Emerge Accelerator website until July 7. Emerge will then announce which start-ups will be supported in mid-August. The accelerator starts in September and the program ends with a start-up showcase in October, where the founders have to pitch their companies to a group of top European investors.