Project Boardup seeks to accelerate growth for underserved early-stage startups
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Indianapolis-based The Startup Ladies has launched an initiative designed to help startup founders build and manage advisory boards with the goal of accelerating the growth of their businesses.
Project Boardup—launched in collaboration with the Indy Black Chamber of Commerce and Indy Rainbow Chamber of Commerce—will also train executives on best practices for serving as startup advisory board members.
The initiative is being funded with a $40,000 Community Collaboration Fund grant from the Indiana Economic Development Corp.
Kristen Cooper, founder and CEO of The Startup Ladies, told Inside INdiana Business that the effort addresses an unmet need.
“So many entrepreneurs do not have networks of people that can help them grow, and no single individual, no matter how talented they are, is able to do everything for their company,” Cooper said. “Somebody may be an expert in technology, but they have no idea what to do when it comes to accounting or maybe design or HR, so what they need to do is identify where are the gaps, where are the weaknesses, and then find executives that have those strengths.”
The eight-week program, which begins April 16, will include a mix of live virtual programming, e-learning, and in-person instruction. Participating founders will learn how to identify, recruit and manage an advisory board that aligns with their company’s growth strategy, according to The Startup Ladies.
Project Boardup is specifically focused on underserved founders, including women, LGBTQ+ founders, and founders of color. Cooper said those entrepreneurs are dealing with obstacles that are unique to them and often do not get the funding opportunities that their counterparts receive.
“Because so many of those underserved founders have not had the opportunity with either funding or support, we’ve left a lot of markets untapped,” she said. “And so for those who are interested in pioneering into new space and using their skill set to grow a company and to explore a new idea, this project is really awesome.”
Anita Williams, co-founder and program director of the Indy Black Chamber, called the initiative an incredible opportunity for Black founders to gain the strategic support they need.
“By providing a clear pathway for mentorship and collaboration, this initiative will help close the gap in access to expertise and resources that too often holds back underrepresented entrepreneurs,” Williams said in written remarks. “It’s about building relationships that empower Black-owned startups to reach new heights.”
For executives, participants will receive training on how to guide early-stage businesses, navigate common startup challenges, and provide strategic support. When the program is complete, executives will be matched with startups that align with their industry expertise.
The Project Boardup team will then facilitate introductions between founders and potential advisors.
Cooper said the program could potentially have added benefits beyond just the advisory boards.
“In some cases, I know we’ve found through The Startup Ladies that when executives get involved in our programming, some of them end up investing in startups,” she said. “Now, not all will, but some might, and so that’s huge.”
Applications for the pilot program—which is available to founders and executives throughout Indiana—are now open and will close on March 31. The program is free for founders and will cost $99 for executives.
“We welcome applications from any kind of company,” Cooper said. “We are agnostic when it comes to industry, and that counts for both the entrepreneurs and the executives.”
You can learn more about Project Boardup by clicking here.