Morgan Stanley’s Multicultural Innovation Lab recently held a Demo Day, a showcase for a group of tech innovators who participated in the lab to reveal to business leaders, financiers, and other observers their plans to disrupt global industry.
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The mastermind behind the accelerator’s development: Carla Harris, Morgan Stanley’s Vice Chair, Wealth Management and head of its Multicultural Client Strategy Group. “Only a fraction of all venture capital money is given to multicultural and women entrepreneurs,” Harris told BE. “Morgan Stanley is a leader at the intersection of what these companies need: capital, connections, and investment banking content.”
She adds: “Given our footprint, the network of our clients, there’s really nobody that we could not connect these entrepreneurs with. Not only do we have capital but we are right at the epicenter of all the different sources of capital, whether it’s institutional, strategic, high-net-worth individuals, endowments, and foundations. We certainly could raise a level of visibility such that diverse sources of capital could come to these companies. Then, with respect to the content, we have some of the best bankers around and could give them a lot of guidance based on our own experience. Not to mention, connect them with other entrepreneurs, both public and private, that might be useful to them.”
Harris designed the program with Alice Vilma, executive director of the company’s Multicultural Client Strategy Committee.