Morgan Stanley is currently accepting applications for the 2018 cohort of their Multicultural Innovation Lab, an intensive 20-week accelerator designed to help build and scale startups, culminating in a showcase presenting each company to the investor community. The focus of the Multicultural Innovation Lab is to support technology and technology-enabled startups led by a multicultural or woman founder and/or management team.
So who exactly are they looking for? According to a recent press release, ideal candidates generally have the following characteristics:
- Multicultural or woman founder, co-founder, Chief Technology Officer or other member of C-suite
- A startup that is technology or technology-enabled and within the seed to Series B funding rounds
- Has successfully raised Friends and Family, Angel or Seed Rounds
- Launched product with demonstrated revenues that provide initial validation of business model and market opportunity
- A commitment to be based full-time at Morgan Stanley’s headquarters for the duration of the program
What can one expect if accepted to the Multicultural Innovation Lab? According to the site, successful applicants will be provided with:
- Curriculum customized for each startup, including finance and sales strategy, marketing and branding, and private sessions with industry experts
- Morgan Stanley pairs each startup with relevant mentors who can be helpful to the business, providing advice and counsel for company growth and scale
- Each startup is introduced to our bankers, financial advisers, technology experts, and others with the power to expose each company to their vast industry networks
Morgan Stanley will provide a cash contribution of $200,000 and receive between 3–5% of equity interest.
Workspace at Morgan Stanley’s headquarters in Times Square
Connections to Morgan Stanley and external partner networks
Opportunity to pitch to the influential investor community
One thing to note is Morgan Stanley requires you to be primarily based in the office for the duration of the program. They strongly believe there is value in the entire cohort interacting with each other as well as the larger Morgan Stanley community.