LatinXPV is an STTE program that assists ten LatinX startups, who each have at least one year of operating history, through an incremental journey focusing on five foundational pillars of People, Place, Partners, Program, and Pitches. During the program, startups will collaborate in two, five-startup cohorts in an entrepreneurial ecosystem that features a business model, sprint and culminates with pitches. Startups success will be measured on their ability to identify new customer segments, increase revenue and grow staff.
The response to the COVID-19 pandemic is transitioning from an American rescue effort to a recovery plan that will take several years of investment to stabilize and grow our small business economy – particularly within LatinX/Hispanic communities such as El Paso. How we strategically serve LatinX startups will help create a free, just, and equitable society.
LATINXPV FIVE PILLARS
PEOPLE: STTE has an established community of like-minded creators who are innovating, programming, and solving problems. People in our community will assist LatinXPV Startup cohorts through collaboration incubation by sharing past successes & failures, solutions to programming challenges, and networking.
PLACE: STTE Foundation, (2601 N. Stanton St., Suite A, El Paso, TX 79902) is located across from the University of Texas at El Paso. STTE operates Sandbox Ventures, a coworking space that focuses on supporting startups, techies, and innovators and that provides a place to convene and collaborate, a necessity to startup journeys and successes. In addition, STTE will provide coworking space for startups.
PARTNERS: Aspen Institute Latinos and Society (AILAS) City Learning and Action Lab – a LatinX business and entrepreneurship initiative designed to help LatinX-owned businesses identify opportunities and pain points and crack the code for business growth in LatinX communities in a post-Covid economy.
New Mexico State University Arrowhead Center – provides a variety of resources for individuals launching small businesses, powered by a network of expert partners, sprints and accelerators focused on scaling.
University of Texas at El Paso, Mike Loya Center for Innovation and Commerce – provides a variety of instructional services for startups and will connect STTE with potential Latino participants.
PROGRAMS: LatinX Sprint – STTE will partner with New Mexico State University Arrowhead Center to deploy a LatinX Sprint that will assist ten Hispanic startups. Sprint focuses on pivoting business models to address challenges presented by COVID-19 (e.g. bringing business online, considering new markets and customers, solidifying brand identity, etc.). The six-week, virtual accelerator (meet once per week) to include the following topics; Product/business uniqueness; customers and competition; product/market fit; pivots and tailoring your product/business; online branding, marketing, and social media; funding;
- LatinX Fund – STTE will administer and offer discretionary funds to startups through a fiduciary application pr Funds may be used for technology equipment, programmer hours, financial & legal services. (e.g. purchasing of laptops, reimbursement of developer hours, appropriate software, marketing services, accounting services and legal services). An online form factoring business need, size, innovative product/service and realistic revenue projections. Support from advisory partners will help select and disperse funds.
PITCHES: STTE will organize two high-quality pitch competitions, Día De Los Muertos and El Paso Pitch that will each provide access to non-dilutive capital for LatinX Startups. To increase regional participation, STTE will partner with the Arrowhead Center at New Mexico State University and the University of Texas at El Paso. Each competition will include investor judges. Hispanics in Philanthropy will be recognized as a premier-level sponsor.