IRVINE, Calif.–(BUSINESS WIRE)–Sunstone Management today announced that it has granted $100,000 to the Long Beach Accelerator (LBA) to partner on the development of a model for the implementation and operation of a network of nonprofit, community-based technology startup accelerators to assist diverse, early-stage technology entrepreneurs with access to capital, networks, technical assistance, and other resources.
Once the model has been created, Sunstone Management will collaborate with the Long Beach Accelerator and local and county governments to implement it in communities that lack technology accelerator programs to support entrepreneurs and advance economic development.
“The Long Beach Accelerator was designed to support early-stage tech startups and local economic development. Based upon the results from the first cohorts in the program, the model has been impactful. This grant will allow us to document the LBA model and transfer that success to other communities. This investment by Sunstone will increase opportunities for many underrepresented entrepreneurs,” according to LBA Board Chair Wade Martin.
The Long Beach Accelerator is a tech accelerator located in Long Beach, California that offers a 4-month program that helps early-stage startups grow by providing technical assistance, mentorship, and access to capital. It is a public-private partnership between the City of Long Beach, Sunstone Management, and California State University Long Beach.
“The Long Beach Accelerator is a vital resource for the creative entrepreneurs in our city and region,” said John Keisler, CEO of Sunstone Management. “Our partnership and these funds will continue the crucial work of providing support for diverse and thoughtful leaders and growing the presence of technology accelerators in areas that lacked these vital resources for developing and assisting young companies.”
Sunstone Management’s grant is provided under its Sunstone Entrepreneurship Community Fund, a Donor Advised Fund managed by the National Philanthropic Trust.
About Sunstone Management: A Financial Times (FT) Americas’ Fastest Growing Company
Sunstone Management is a diversified private capital firm located in Southern California that invests in diverse early-stage technology entrepreneurs who demonstrate the promise to build great companies. We believe in the aspirational power of southern California to attract and inspire the most sophisticated investors and the most ambitious entrepreneurs in the world. We deliver new and exciting opportunities for economic growth through the creation of innovative public-private-partnerships, and our unique experience across government, education, and private sectors.