#StartupsEverywhere Profile: Alejandra Molina, Co-Founder, MetaBronx
This profile is part of #StartupsEverywhere, an ongoing series highlighting startup leaders in ecosystems across the country. This interview has been edited for length, content, and clarity.
Empowering Underrepresented Founders and Nurturing Tech Talent
MetaBronx is the leading startup accelerator in NYC for underrepresented founders – including women, people of color, and LGBTQ+ who are inventing technology-based solutions to large-scale problems. It places youth from underrepresented communities in an innovation environment where they learn all the skills to succeed in the 21st century. We spoke with co-founder Alejandra Molina about the current challenges underrepresented founders face in raising capital, the important role of accelerators and incubators in the startup ecosystem, and how the US can create a welcoming environment for immigrant entrepreneurs.
Can you tell us about your background and journey to co-founding MetaBronx?
I have a diverse background in International business, innovation, and technology. After co-founding my first startup in the US, a language learning platform called BeepBoop, I realized I wanted to fuel the growth of dozens of startups around the US and support the journeys of other entrepreneurs, and I knew that there were a lot of lessons that I learned as a former founder that I could share with my community of underrepresented entrepreneurs. This led me to join MetaBronx at its outset as a co-founder, where I handle partnerships, programming, community building, and training.
What does MetaBronx aim to achieve?
Our organization is an accelerator for underrepresented founders, based in the South Bronx. We accept applications from startup founders nationwide, provided they have a US incorporated entity, and focus on supporting women, LGBTQI+ members, immigrants, and people of color. Additionally, we have workforce development programs for underserved youth, helping them acquire skills for success in the 21st-century tech industry.
Our primary goal is to create a community-driven innovation ecosystem that empowers underrepresented founders and tech talent. We want to support startups led by diverse founders, foster networking opportunities, and provide access to funding and resources that might otherwise be challenging to obtain.
What challenges do underrepresented founders face in accessing capital and how can policymakers help?
Access to capital is a significant challenge for underrepresented founders. Policymakers can play a vital role here by focusing on community organizations that distribute information about funding opportunities, VCs, and angel investors specifically focused on diverse founders. Information is key and people from underserved communities don’t often have the access to networks and information about how to start and grow their businesses. Additionally, creating federal programs, such as scholarships or grants for paid internships, can ease the financial burden on young startup founders, making it more feasible for them to pursue their entrepreneurial dreams. With these paid opportunities, they are going to get a salary, they are going to learn and get exposure to an industry that no one in their family is working in.
How important are incubators and accelerators in fostering startup growth?
Incubators and accelerators like MetaBronx are fueling the growth of startups and play a crucial role in any thriving ecosystem. They serve as foundations for startups, connecting them with resources, mentorship, and like-minded founders. Policymakers can support these organizations by providing funding opportunities or collaborating with them to disseminate information about their programs, ensuring that underserved communities are aware of these invaluable resources.
As an immigrant founder, what was your experience with the US immigration system, and what improvements could be made?
Navigating the US immigration system as an immigrant founder was demanding and required significant effort. There are already so many procedural hoops that you have to go through while simultaneously making sure your company is profitable and fundraising. I tell many immigrant founders that it’s always important to find your community. Find people that have gone through the same process that you're trying to go through. They’ll have experience with different lawyers, firms, and accelerators that are friendly to immigrant founders. Not only is there a bias about being a woman in tech, there is also stigma associated with being an immigrant in tech, which just adds another layer of difficulties. To improve the experience for immigrant founders, policymakers could create friendlier paths for young startup entrepreneurs, ensuring that their contributions are recognized and valued regardless of their company's age. Collaboration between universities and organizations like ours can also create a smoother transition for international students who wish to stay and contribute to the US tech ecosystem after graduation.
What are your goals for MetaBronx moving forward?
In the short term, we are focused on fundraising to increase the number of paid apprenticeships we can offer to underserved youth and expand our support for startup founders. We aim to partner with schools and organizations to provide work-based learning opportunities. Long-term, we plan to continue growing our impact, reaching more underrepresented founders, and fostering a strong community-driven ecosystem that propels diverse entrepreneurs to success.
All of the information in this profile was accurate at the date and time of publication.
Engine works to ensure that policymakers look for insight from the startup ecosystem when they are considering programs and legislation that affect entrepreneurs. Together, our voice is louder and more effective. Many of our lawmakers do not have first-hand experience with the country's thriving startup ecosystem, so it’s our job to amplify that perspective. To nominate a person, company, or organization to be featured in our #StartupsEverywhere series, email advocacy@engine.is.
