Mayor Bowser taps Marathon Foundation to manage DC Inclusive Innovation Fund - DC


Sep. 6, 2018 11:49 am

Mayor Bowser taps Marathon Foundation to manage DC Inclusive Innovation Fund

The fund — a pillar of Bowser's inclusive-innovation agenda — will focus on early stage companies with at least 51 percent ownership by underrepresented entrepreneurs.

Mayor Muriel Bowser speaks at a 1776 Challenge event in 2016.

(Courtesy photo)

Mayor Muriel Bowser’s office announced Thursday that it is partnering with The Marathon Foundation (TMF) to create and manage the DC Inclusive Innovation Fund. This announcement comes after the District released a request for applications for an investment partner back in April. The fund is designed to increase access to capital for companies led by underrepresented entrepreneurs.

“This partnership will break down financial barriers and move us one step closer to ensuring all Washingtonians, including underrepresented entrepreneurs, are able to share in our city’s continued prosperity,” Mayor Bowser said in the announcement. “Together, we will build on our progress in making Washington, D.C. the capital of inclusive innovation and create more pathways to the middle class for District residents.”

TMF, a D.C.-based nonprofit that focuses on increasing business opportunities and capital for entrepreneurs, was chosen out of six potential partners for the fund.

The fund will focus on companies in the pre-seed, seed and pre–Series A stage, with 51 percent ownership by underrepresented entrepreneurs and a target on tech, tech-enabled and non-tech companies with potential to scale, the announcement states. As previously reported by DC, the District has committed to provide $1.5 million in seed funding so the fund can start raising private capital. Those seeking investments can also expect entrepreneurial training and education from TMF.

The move comes as more private-sector investors are seeing value in backing underrepresented founders. California’s Backstage Capital announced plans Wednesday to launch a Philly-based accelerator for women, people of color and/or members of the LGBTQ community. Another location of the accelerator will be determined by an online vote. Better get on that, #dctech!

People: Muriel Bowser
Already a member? Sign in here


Here’s who won at GW’s 2019 New Venture Competition

After ending 2018 strong, DC venture capital funding totals fell to start 2019

Goodwill and Google are expanding the Goodwill Digital Career Accelerator



This fast-growing SaaS company aims to be a force for change in the energy industry



Experienced Software Engineer – Backend

Apply Now
Philadelphia, PA


Full-Stack Javascript Engineer

Apply Now
Washington DC

The Washington Post

Back End Developer/ Engineer – Arc Engineering

Apply Now

DXC Technology enters agreement with BMW to advance driverless car development

Female tech founders in DC received only 4.7% of VC funding in 2018

Babyscripts lands a $500K strategic partnership with Inova Health System



Hear from the privacy pros at Security by the Schuylkill

Washington, DC

The Washington Post

Sr. Full Stack Developer

Apply Now
Washington, D.C.

The Washington Post

Senior Software Engineer (iOS)

Apply Now
Washington, D.C.

The Washington Post

Audio Engineer

Apply Now

Sign-up for daily news updates from Dc

Do NOT follow this link or you will be banned from the site!