The Morgan Stanley Multicultural Innovation Lab, Morgan Stanley’s in-house accelerator is an intensive 6 months accelerator designed to help build and scale startups, culminating in a showcase presenting each company to the investor community.
The program, now in its second year, targets companies with a multicultural or woman founder, co-founder, CTO or other member of C Suite that is developing innovative solutions across sectors.
The programme hosted its second Annual Showcase and Demo Day, in an event which also featured companies from accelerators HearstLab, Newark Venture Partner Labs and PS27 Ventures.
The 16 presenting startups, all led by a female or multicultural founder, offered solutions to structural inefficiencies across a wide array of categories, including fintech, developer tools and health. Though all of the companies offered impressive presentations and strong value propositions, here are three of the companies that stood out to us.
The startups are:
Morgan Stanley Multicultural Innovation Lab
- BeautyLynk “is an on-demand hair and makeup service provider, specializing in customizable services for women.”
- Broadway Roulette “is an events marketplace that pairs consumers with surprise cultural events, beginning with Broadway theater.”
- CariClub “is an enterprise software platform to connect young professionals with nonprofit opportunities.”
- COI Energy Services “is an integrated platform for electric utilities and business users to optimize and manage energy usage.”
- CoSign “is an API and application that allows anyone to create, distribute and monetize visual content.”
- FreeWill looks to simplify the estate-planning process by providing a free online platform that automates will drafting, in a similar function to what TurboTax does for taxes.
- Goalsetter “is a goals-based gifting, savings and investing platform designed for children.”
- Hatch Apps provides a platform that allows users and companies to build iOS, Android and web applications without any code through pre-built templates and custom plug-and-play functions.
- myLAB Box “offers customizable at-home health-test kits and relevant telemedicine consultations / prescription services.”
- Shoobs is looking to be the go-to platform for local “urban” events, which the company defined as events centered on local nightlife, comedy and concerts in the hip-hop, R&B and reggae genres to name a few.
- Priori “is a global legal marketplace changing the way in-house teams find, hire and manage outside counsel.”
- TRENCH “is an online fashion marketplace that makes use of the unworn items in every woman’s closet.”
Newark Venture Partners Labs
- Floss Bar “is a new type of preventive brand for oral health care. The company offers high-quality, routine dental care across flexible locations at thoughtful prices.”
- Upsider “is a software solution allowing recruiters to leverage AI technology to identify a comprehensive set of candidates who align with their business and role requirements, resulting in a more strategic understanding of the best possible talent for the job.”
- BlueWave Technologies “is a cleantech company and the creators of the BlueWave™ Cleaning System — a water-free, detergent-free and chemical-free plasma device that cleans items that are extremely hard or impossible to clean with a washer and dryer.”
- OnPay Solutions “focuses exclusively on business-to-business payments. They create payment software and offer payment web services to enhance efficiency and productivity for Accounts Payable and Accounts Receivable.”
Applications are now open for its third cohort of companies, with the application window closing on January 4th, 2019.