A Luma Lab Incubator at Howard University could help support small businesses and underrepresented communities gain an edge in technology.
Howard University and D.C. Mayor Muriel Bowser announced the installation of a new Luma Lab operation as a D.C.-based incubator on Howard’s campus. As the District’s first venture capital hub for start-ups and emerging companies, the incubator’s goal is to support underrepresented entrepreneurs and businesses that provide innovative products and services to underserved communities.
“Homegrown innovation in the District is expanding, and our tech sector is growing,” said Bowser at a Feb 16. press conference. “I remain committed to supporting our entrepreneurs and startups so that every resident has a chance to benefit from the innovation economy. And I am confident that this partnership with Howard University and Luna Labs will keep D.C. on the cutting edge.”
Luma Lab was chosen from an elite group of technology and entrepreneurship organizations to run the innovation hub.
In addition to offering technology and entrepreneurship training, the hub will offer affordable co-working space, networking events, mentorship, and strategic connections to Silicon Valley, investors, and partners. The hub will also provide tiered services and programs to its member companies, Howard students, staff, and faculty, as well as the broader Shaw and D.C. communities.
“We believe the new incubator helps us build an ecosystem that makes D.C. a known hub for technology and innovation,” said Joaquin McPeek, director of communications for the Deputy Mayor of Planning and Economic Development. “More importantly, it addresses the needs of local startups and underrepresented entrepreneurs in the District, which is critical as we aim to foster more inclusion and equity throughout the city.”
The District contributed nearly $1 million in grant funds to construct over 8,000 square feet of cutting edge workspace within Howard’s Wonder Plaza retail center in the 2300 block of Georgia Avenue.
Luma Lab CEO Aaron Saunders said, “Working closely with Howard University and Mayor Bowser’s office, we will improve the technology landscape in Washington, D.C. by providing the underserved community with the right tools and access to technology partners and a seat at the digital table as successful creators, innovators, and entrepreneurs.”
The incubator is expected to launch in Fall 2016, with the possibility of early programming on Howard’s campus.