Morgan Stanley has announced the expansion of its Multicultural Innovation Lab, an accelerator programme that targets companies with women or ethnic-minority founders.
The company said in a statement, “The Lab will begin operating across Europe, Middle East and Africa (EMEA) from the beginning of 2022, and is designed to run in parallel and enhance the global initiative launched in the U.S. in 2017. Morgan Stanley is targeting an inaugural EMEA Lab cohort of five startups and has earmarked investments of £200,000 in each, representing a total commitment of £1 million for the inaugural year of the planned multi-year programme.”
“Establishing a platform in London giving access to critical advice, experience and funding to women- and minority-owned enterprises is not only something we are well-positioned to offer, but also allows us to address a significant market inefficiency,” said Clare Woodman, Morgan Stanley’s Head of EMEA and co-sponsor of the EMEA Lab.
“We are excited to launch the lab in EMEA. Morgan Stanley is a leading provider of access to capital globally, and we believe we are uniquely positioned to help women- and minority-owned businesses reach a much more equitable slice of the funding pie,” added David Cantillon, Head of EMEA Equities and co-sponsor of the EMEA Lab.
The global team is led by Morgan Stanley Vice Chairman and Managing Director Carla Harris and Managing Director Alice Vilma.
Sanghamitra Karra, Managing Director of the EMEA Lab said, “The U.S. experience has been inspirational in demonstrating the available talent pool of women and minority entrepreneurs and the critical importance of dedicated growth capital and access to strategic advice and mentorship.”
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