By Mike Finney

The goal of the second annual community-led Startup302 competition is to tackle funding inequities among minority groups and to strengthen the regional startup community.

Startup302 is accepting applications from underrepresented founders with early-stage, technology-enabled ventures through Feb. 20.

The contest is offering more than $150,000 in non-dilutive grant prizes to winners, along with mentoring and networking connections with potential investors.

According to Noah Olson, director of innovation at the Delaware Prosperity Partnership, a Startup302 organizer and sponsor, tech-enabled startups with at least one founder from an underrepresented group may apply.

The competition’s prize categories reflect Delaware’s innovation and industry landscape, Mr. Olson said, so life sciences (agriculture, chemistry and advanced materials) and, more broadly, tech ventures (fintech, artificial intelligence, big data, esports) are especially encouraged to apply.

“As we’ve seen with the success of last year’s competition and the impact on the winning companies, innovation thrives when diverse perspectives are fostered and included,” Mr. Olson said in a press release. “Startup302 aims to improve access and equity across the First State’s innovation ecosystem and beyond.”

Garry Johnson III, founder of First Founders and chair of the Startup 302 steering committee, agreed.

“Delaware has a unique opportunity to position itself as a leader of inclusive and equitable innovation,” Mr. Johnson said, “and I’m excited to contribute to collaborative efforts like these that attract diverse communities of founders to the region.”

Within the startup venture capital community, underrepresented founders — including women and people of color — are those in whom the industry as a whole under-invests relative to their demographic’s percent of overall U.S. population.

Under Mr. Johnson’s leadership, the steering committee includes representatives from key Delaware innovation-supporting organizations.

These include DPP, the University of Delaware’s Horn Entrepreneurship, the Delaware Sustainable Chemistry Alliance (DESCA), the Delaware State University College of Business, the New Castle County Chamber of Commerce’s Emerging Enterprise Center and the Delaware Innovation Space.

Lillie Crawford, director of the Delaware Center for Enterprise Development at DSU, said,

“DCED is delighted to be a part of Startup302. DCED has a history of supporting minority-owned businesses from underserved communities and values the Startup302 commitment to fostering innovation and entrepreneurship specifically targeting underrepresented founders.”

DESCA executive director Dora Cheatham is also excited about Startup302.

“DESCA is thrilled to be a part of this intentional effort to grow a diverse and inclusive startup community,” she said. “This type of resource collaboration is vital to building a thriving innovation and entrepreneurial ecosystem.”

Dan Freeman, founding director of the Horn Entrepreneurship, added, “Horn Entrepreneurship is honored to support Startup302, which provides great opportunities for founders to make connections, receive guidance, raise visibility, gain credibility and win prize funding — all of which can help to build traction and increase the likelihood of new venture success.”

There is no cost to enter, thanks to sponsorship by the state of Delaware and others, including Discover Bank, FMC, LabWare, Highmark Delaware and DuPont.

The competition finals will take place virtually in May. For details and to apply, visit here. Questions may be addressed to Mr. Olson at nolson@choosedelaware.com or 302-576-6589.