New Tech Incubator Launches to Support Black Founders

A coalition of tech industry leaders has announced the launch of "Catalyst," a new $500 million fund and accelerator program dedicated to supporting Black tech entrepreneurs.\n\nThe initiative will provide seed funding, mentorship, and resources to early-stage startups founded by Black entrepreneurs. Major technology companies including Google, Microsoft, and Apple have committed to the fund, along with prominent Black venture capitalists.\n\n"Access to capital has been the biggest barrier for Black founders," said Catalyst CEO Jamila Thompson. "We're changing that by creating a dedicated pipeline from idea to IPO."\n\nThe program will accept its first cohort of 50 startups next quarter, with participants receiving up to $250,000 in seed funding and access to a network of successful Black tech executives.