Founded in 2012, RevTech Labs provides technology startup companies a community of mentors and connections to grow their businesses.
While RevTech has successfully served start-ups for over eight years, the organization saw a significant decrease in revenue when the COVID-19 pandemic started to spread in Charlotte. Rev Tech Labs looked to outside funding to continue offering its services to entrepreneurs working toward growth and success.
As a result, the City of Charlotte awarded RevTech Labs a Workforce Partner Support Grant from Charlotte Open For Business.
“The Workforce Partner Support Grant was instrumental for us to be able to expand our Fellowship Program,” said Jasmine Boyce, Community Manager of RevTech Labs. “We were able to pivot through COVID quickly and expand this program to help early staged underrepresented founders.” In total, the grant supported 25 local entrepreneurs, which includes startups like CargoLabs, Ebuynee, Flashmaps, Well Rounded, and WholeBod Technologies. The funding also allowed companies to access the Global Accelerator Network (GAN), which is the largest group of accelerators, partners, and investors that provides accessibility to financial and social capital for startups in need.
Additionally, the funding provided mentoring software such as Crowdwork and supported the RevTech Labs staff as they implemented the program.
Because of the relief funding, RevTech labs onboarded seven people into the program and allowed more than two dozen people to pitch at the Venture 135 Conference.
“As an early staged startup, we do not have the funds to spend on a workspace,” said John Hernandez, Co-Founder of CargoLabs. “So, it is extremely helpful and resourceful to be able to utilize this workspace and all its resources as I continue to build my company.”
The organization acknowledged there is still a large unmet need to support local entrepreneurial founders, specifically underrepresented founders in the community. Looking ahead, RevTech Labs intends to continue its Fellowship Program with private funding to help more tech entrepreneurs become established in the industry.
RevTech Labs received a Workforce Partner Support Grant from Charlotte Open For Business. Through the grant program, the City of Charlotte has awarded $3.5 million to workforce partners to provide programs for our community.