Microsoft launched the Impact X Venture Studio, an accelerator that intends to back underrepresented founders across Europe.
Microsoft partnered with venture capital firm Impact X to establish the accelerator. Impact X CEO Eric Collins said, "Impact X intends to create a small cohort of diverse led startups that can move the needle in terms of efficiency, optimizations, and innovation in the water industry."
- The accelerator is collaborating with center of excellence Spring Innovation to support startups in the water sustainability sector.
- In addition to nurturing and mentoring the startups, Impact X Venture Studio will provide $150,000 worth of Azure credits, technical guidance from Azure specialists, and working space.
- Research from Extend VC shows that Black founders receive only 0.24% of the venture capital.
- Only 0.02% of the total funding went to Black female founders.
