Esosa Ighodaro, co-founder of CoSign, raised $1.4 million for her company through the Seamless Accelerator program in Grand Rapids, Mich. She credits being part of an accelerator as a first-time entrepreneur with teaching her how to define problems, navigate fundraising, and understand what investors look for. Ighodaro now aims to make it easier for other founders to raise funding through her new initiative, AcceleratorCON, which will bring together startups and accelerators in Brooklyn, N.Y. on November 8.
AcceleratorCON will feature two tracks for startup founders and accelerator leaders, with speakers including Seth Godin and Ankur Nagpal, founder of Teachable. The event will allow founders to connect directly with investors without needing a “warm introduction,” which is often a barrier for those outside traditional networks. Ighodaro hopes to expand opportunities for underrepresented founders to access accelerator programs, as studies show that participating in accelerators increases the likelihood of securing funding, especially for women and founders of color.
According to PitchBook, only 2.3% of venture capital goes to female founders, while less than half a percent of all venture dollars go to Black founders. Ighodaro acknowledges that the tech industry is still relationship-based, making it difficult for those outside traditional networks to break in. As a venture scout, she sees AcceleratorCON as a chance to make valuable connections and potentially expand her role in the investing space.
Ighodaro’s work with Pipeline Angels and Barclay’s Bank Formation Investment (BBFI) aims to provide support to entrepreneurs who may not have access to traditional sources of funding. She believes that underrepresented founders can benefit from accelerator programs, which create networks and connections that are crucial for fundraising success. Research published in Harvard Business Review shows that startups that participate in accelerators raise more funding and are more likely to survive or get acquired.
Inspired by her own experiences as a founder, Ighodaro co-founded Black Women Talk Tech to provide a community for scalable entrepreneurs. The organization runs a conference series called Roadmap to Billions, aimed at helping founders build successful businesses without the need to constantly travel to California for resources. Ighodaro’s efforts to help founders access resources and opportunities led her to create AcceleratorCON, which aims to connect startups with investors and accelerators to increase their chances of securing funding.
Despite facing challenges such as flash flooding in New York, Ighodaro remains determined to bring AcceleratorCON to life and provide more opportunities for startups to win funding. She believes that access to capital is crucial for underrepresented founders and hopes that the event will help them connect with the resources and networks needed to succeed in the world of entrepreneurship. By bridging the gap between founders and investors, Ighodaro aims to create a more inclusive and supportive ecosystem for all entrepreneurs.
