VENTURE CAPITAL ACCESS PROGRAM (VCAP©)
Since the 2008 financial crisis, U.S. small business creation has diminished due to the lack of access to capital and weakened consumer spending. This trend is particularly challenging for diverse and women-owned businesses, which are disproportionately likely to hire minorities and women as employees.
THE NEED FOR INCREASED ACCESS TO CAPITALBy 2050, the United States will be a majority-minority nation. Without the development of a robust pipeline of minority and women entrepreneurs and businesses, our economy will face a significant shortage of world class talent and innovation for economic growth.
DIVERSE BUSINESSES OUTPACING THE MARKET IN THE 21st CENTURY*According to the U.S. Department of Commerce Minority Business Development Agency (MBDA), diverse businesses are outpacing non-diverse businesses in gross receipts, employment, and number of firms. Diverse businesses are an engine of job creation with paid employment growing by 24% compared to a decrease in employment of 1.1% for non-diverse businesses.
ABOUT VCAP©The Venture Capital Access Program (VCAP©), is a collaborative venture between the Harvard Business School Alumni Angels of Greater New York (HBSAANY) and the National Association of Investment Companies (NAIC) that provides women and diverse entrepreneurs with access to capital through venture capitalists and angel investors. HBSAANY invests in entrepreneurs regardless of Harvard affiliation if any.
VCAP© is operated by NAIC's subsidiary, The Marathon Foundation, a business development eco-system dedicated to entrepreneurial growth, access to capital and deal flow.
VCAP© allows entrepreneurs across all industry sectors, who are either a member of The Marathon Foundation or a VCAP© program participant to submit business plans and financial information. After a rigorous, multi-stage screening process, 4-8 finalists will be invited to pitch at a special event in front of 40-50 HBSAANY venture capitalists, angels, and other institutional investors.