Startups

Hatch Apps joins Morgan Stanley’s Multicultural Innovation Lab

The D.C. startup is one of 10 companies joining the New York accelerator.

Hatch cofounders Param Jaggi and Amelia Friedman. (Courtesy photo)

D.C. startup Hatch Apps is joining the latest cohort of Morgan Stanley’s Multicultural Innovation Lab, said cofounder Amelia Friedman. The startup that makes software to help teams deploy apps without writing code is one of ten companies that will participate in the accelerator program.

Through the New York–based program, Morgan Stanley helps startups who are led by women and people of color. The startups are in the post-seed-Series B phase. The area of focus is a little later-stage than some accelerators, but it’s a model we’ve been seeing lately.

In this second year of the program, the cohort doubled in size. Morgan Stanley said it received 300 applications within a month.

“The monumental success of the inaugural class proves that the market inefficiency in accessing capital within the start-up scene for women and multicultural entrepreneurs leads to a positive commercial outcome,” Carla A. Harris, Vice Chairman for Global Wealth Management and Head of the Multicultural Client Strategy Group at Morgan Stanley, said in a statement.

Over six months, Morgan Stanley offers access to programming through its own internal resources, and others outside the company. Morgan Stanley also invests in the companies, and takes an equity stake.

Friedman and cofounder Param Jaggi plan to commute back and forth from the company’s office in D.C. for the program, while also giving other members of the team an opportunity to participate where it makes sense. Along with access to funding, it will also give Hatch a sales presence in New York. The accelerator is based out of Times Square. Given current growth coming off the closing of a $1.3 million round, Friedman said the team debated whether it was the best choice to enter the program. They decided it was “1000 percent,” Friedman said.

“We’re really enthusiastic about making best use of their resources,” she said.
Companies: Hatch

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

The man charged in the UnitedHealthcare CEO shooting had a ton of tech connections

Northern Virginia defense contractor acquires aerospace startup in $4B deal

From rejection to innovation: How I built a tool to beat AI hiring algorithms at their own game

Where are the country’s most vibrant tech and startup communities?

Technically Media