Esosa Ighodaro, the co-founder of CoSign, a transformative app that streamlines social media shopping by allowing users to purchase items seen in posts, emphasizes the crucial role accelerator programs played in her entrepreneurial journey. Ighodaro credits her experience in the Seamless Accelerator in Grand Rapids, Michigan, with providing essential resources for navigating her first fundraising efforts, leading the startup to successfully raise $1.4 million from major investors. “The accelerator was a great stepping-stone as a first-time entrepreneur, teaching me how to clearly define our problem, navigate fundraising, and understand what investors look for,” she reflects. This sentiment underscores Ighodaro’s belief that while bootstrapping is often championed, the success of many businesses often hinges on strong support systems.
In a bid to empower other founders, Ighodaro is spearheading AcceleratorCON, a groundbreaking event set for November 8 in Brooklyn, New York. The initiative aims to bridge the gap between startups and accelerators in a unique, draft-inspired format. The event will feature prominent speakers such as marketing guru Seth Godin, Ankur Nagpal of Teachable, and various leaders from notable accelerators like ERA NYC and Cela Innovation. So far, attendance numbers show enormous interest, with around 500 registered participants ready to engage and network, all under the sponsorship of tech giants like Microsoft and Oracle.
Despite the evident potential in tech, systemic barriers persist for underrepresented groups. PitchBook statistics reveal that female founders receive only 2.3% of venture capital, with Black founders receiving a mere 0.48% of funding in 2023. Ighodaro addresses these disparities, highlighting the relationship dynamics often present in tech investment, which tend to favor those with existing networks. Her vision for AcceleratorCON is to facilitate direct connections between founders and investors, eliminating the traditional need for personal referrals, which can hinder fair opportunities for those lacking established connections.
Being deeply engaged with the venture capital landscape, Ighodaro serves as a VC-in-residence at Pipeline Angels and a venture scout for Barclay’s Bank Formation Investment, further positioning herself as an advocate for underrepresented founders. Her goal extends to increasing access and visibility for women and people of color in the investment arena, with research indicating that participation in accelerator programs significantly boosts funding chances for these groups. “Studies show that founders are more likely to secure funding after participating in an accelerator, especially for women and founders of color,” she asserts.
Ighodaro’s drive stems from her initial experiences as a founder in an ecosystem that lacked supportive networks for diverse entrepreneurs. She helped establish Black Women Talk Tech, a community aimed at addressing the unique challenges faced by Black women in technology. This initiative not only generates critical resources but also cultivates a sense of inclusion. Recognizing a vast number of accelerator programs, she highlights a knowledge gap where many startups remain unaware of these valuable resources, thus propelling her current mission to connect founders to potential investors and accelerators.
After transitioning the AcceleratorCON event to a virtual format during a flash flood in New York, Ighodaro is enthusiastic about finally hosting it live. With her firm belief that capital accessibility is vital for the success of underrepresented founders, AcceleratorCON aims to create a networking platform where startups can thrive. Ighodaro’s commitment to building bridges within the entrepreneurial community signals a transformative step towards increased equity in the venture capital landscape, promising to pave the path for a future where every founder can access the funding and support they need to succeed.
