QUEENS, N.Y. (PIX11) — A new technology and innovation hub has been established in Queens.
Queens Deputy Borough President Ebony Young said the borough's new Diversity Tech Hub will support early-stage minority-led technology businesses.
“In our seed and Series A, marginalized black and brown people are left behind. In pre-seed, they get all the money. People throw money at them. And… As soon as you start scaling, you can’t find it,” Young said.
The borough president's office is working with the nonprofit organization Pursuit, and its office at One Court Square in Long Island City will be the hub.
The center's first $5 million will come from the borough's Office of the President.
The office was inspired to create the hub after a 2022 report by HR&A found racial disparities in the city's tech ecosystem.
“Brown and Black people in certain neighborhoods, which are the most marginalized neighborhoods in New York City, are not getting the information they need to understand that they may even be part of this ecosystem. “No,” Young said.
To compete, the secretariat will select between 25 and 50 emerging technology startups over several months.
Each member is then given a hub workspace and paired with a case manager for a period of three to five years.
“A case manager that really gives you the tools, knowledge, and resources you need to grow your business,” Young says. “They come in, we access their business, and we say OK, here are the benchmarks and key performance indicators for the next three years.”
The office said the project's ultimate goal is to help businesses prosper and close the gap between rich and poor.
“We help you raise money. There's no fee for meeting the metrics. It keeps you in this hub. Your payment is delivery to you,” Young said. Ta.
The hub is scheduled to open early next year.
The district presidential office will begin accepting applications in the fall or early winter.
