TechRise by P33

High-Level Overview

TechRise by P33 is a multi-stakeholder initiative designed to empower underrepresented tech founders—particularly Black, Latinx, women, non-binary, and trans entrepreneurs—in Chicago. Its mission is to close the persistent funding and support gap for these founders by providing access to capital, networks, and knowledge, helping them scale from idea stage to exit. The program operates through weekly pitch competitions, offering non-dilutive grants of $25,000 to $50,000, as well as workshops, mentorship, and a robust online community. TechRise has demonstrated strong impact, achieving a 17x return on investment in follow-on funding for its founders in just one year, surpassing its original five-year goal.

By focusing on diversity and inclusion, TechRise is reshaping Chicago’s startup ecosystem, making it one of the most accessible and supportive environments for underrepresented founders in the U.S. The initiative is backed by P33, a nonprofit dedicated to transforming Chicago into a top-tier tech hub, and supported by a network of investors, incubators, and corporate partners.

Origin Story

TechRise was launched in 2019 as part of P33’s broader mission to turbocharge Chicago’s tech ecosystem and establish the city as a leader in inclusive innovation. P33 was founded to bring together business, technology, nonprofit, and government stakeholders to address systemic barriers in the region’s startup landscape. TechRise emerged as a direct response to the stark disparities in funding and support for Black, Latinx, and gender-diverse founders, who often lack access to the networks and capital needed to launch and scale their ventures.

The program began as a pilot in Chicago, quickly gaining traction and demonstrating outsized impact. By 2023, TechRise had already surpassed its five-year funding goal, catalyzing hundreds of millions in additional investment for underrepresented founders. The initiative’s success has sparked interest in national expansion, with partnerships forming to replicate its model in other regions.

Core Differentiators

• Focus on Underrepresented Founders: TechRise prioritizes Black, Latinx, women, non-binary, and trans founders, addressing a critical gap in the startup ecosystem.
• Non-Dilutive Funding: Weekly pitch competitions offer grants of $25,000 to $50,000, allowing founders to retain equity while accessing crucial early-stage capital.
• Comprehensive Support: Beyond funding, TechRise provides workshops, mentorship, and a vibrant online community, connecting founders with investors, talent, and experienced mentors.
• Multi-Stakeholder Model: The initiative leverages partnerships with corporations, incubators, and government entities to create a robust support network.
• Proven Track Record: TechRise has achieved a 17x ROI in follow-on funding for its founders, demonstrating both financial and social impact.

Role in the Broader Tech Landscape

TechRise is riding the wave of increased demand for diversity, equity, and inclusion in the tech industry. As the startup ecosystem grapples with persistent disparities in funding and representation, initiatives like TechRise are proving that targeted support for underrepresented founders can yield outsized returns—both financially and socially. The timing is critical, as investors and corporations increasingly recognize the value of diverse perspectives in driving innovation.

By lowering barriers to entry and providing a platform for overlooked founders, TechRise is helping to democratize access to the tech economy. Its success in Chicago is influencing other cities to adopt similar models, contributing to a broader shift toward more inclusive and equitable startup ecosystems nationwide.

Quick Take & Future Outlook

TechRise is poised to become a blueprint for inclusive innovation, with its model already attracting interest for national expansion. As the demand for diverse founders grows, TechRise’s approach—combining non-dilutive funding, mentorship, and community—will likely inspire similar initiatives across the country. The program’s ability to generate strong financial returns while advancing social equity positions it as a leader in the next generation of startup support.

Looking ahead, TechRise’s influence will likely extend beyond Chicago, shaping how cities and regions approach diversity in tech. Its success underscores a simple truth: when overlooked founders are given the tools and support they need, they can drive transformative change in the startup ecosystem and beyond.