Program starts businesses to support formerly incarcerated
Milwaukee-based startup accelerator gener8tor and the venture capital arm of American Family Insurance are starting a new program aimed at creating more resources for people who were formerly incarcerated.
The new program, announced Thursday, will have its first cohort this fall in Milwaukee. Its next cohort will be based in Madison.
The gBETA Social Impact program will help Milwaukeeans develop new ideas on how to reduce recidivism and incarceration. The goal of the program is to bring new ideas to market as sustainable companies. New initiatives should serve or be owned by people who were formerly incarcerated.
The gBETA Social Impact program will start Aug. 28 with an event at Sherman Phoenix. Interested participants should attend the event to be selected into up to five teams. The event is free and open to the public.
During the program, teams will meet twice a week for one month and get free co-working space at No Studios. Participants will continue to get support from gener8tor and the American Family Insurance Institute for Corporate and Social Impact after the program to build the businesses.
“Looking at marginalized communities, particularly focused on the formerly incarcerated, that speaks to me because I come from that,” Nyra Jordan, an impact investment director at the American Family Insurance Institute said in a news release.
“Understanding what that journey is like for the individuals re-entering society and wanting to have inclusion from a financial and social perspective, and being able to be a viable citizen, it’s a struggle. Getting proximity to the people and communities impacted by these issues and understanding the root causes will lead us to real tangible solutions.”