A new business incubator and accelerator, focused on black-owned enterprises, has been established in Seattle.
Empowering Black Entrepreneurs in Seattle: The Launch of SEA619
The Pan-African Center for Empowerment (PACE), a nonprofit organisation dedicated to promoting Black economic freedom and cultural innovation, has recently launched a new initiative in Seattle – SEA619. The program, named after the Seattle-Tacoma airport code and a reference to Juneteenth (6/19), aims to support Black entrepreneurs in the city through resources, community engagement, and economic development efforts.
Arif Gursel, the founder and CEO of PACE, has a long and impressive career with major companies such as Microsoft, Salesforce, Netflix, and Google. His vision for SEA619 extends beyond just providing support to startups; he also wants the incubator to foster creativity among artists and content creators.
SEA619 is composed of three distinct programs: a business association, an incubator, and an accelerator. The business association will offer mentorship to brick-and-mortar businesses like restaurants, salons, and food trucks. The incubator, on the other hand, is focused on nurturing young tech startups. Arif Gursel takes an individual approach for each business within the SEA619 programs, ensuring that every startup receives the specific support it needs to grow.
The Union, a coworking and media production space, will serve as the headquarters for SEA619. Arif Gursel hopes that Black founders will move to Seattle to participate in SEA619, contributing to a diverse and vibrant entrepreneurial ecosystem in the city.
Unlike many similar programs, SEA619 will cap the equity stake it takes at 2%. This is significantly lower than the traditional 6% or so that many programs take, making it easier for startups to retain control of their businesses. SEA619 might take grants and donations from other firms, but is still figuring out its ultimate business model.
Arif Gursel spoke about SEA619 to the Puget Sound Business Journal, expressing his enthusiasm for the program and his hopes for its impact on the Seattle community. As PACE continues to organise and advocate for Black economic empowerment, SEA619 stands as a testament to their commitment to supporting Black entrepreneurs and fostering innovation in the Seattle area.
[1] Puget Sound Business Journal. (2021, August 16). Arif Gursel launches SEA619 to support Black entrepreneurs in Seattle. Retrieved from https://www.bizjournals.com/seattle/news/2021/08/16/arif-gursel-launches-sea619-to-support-black.html
[2] Seattle Times. (2021, August 17). PACE launches SEA619 to support Black entrepreneurs in Seattle. Retrieved from https://www.seattletimes.com/business/pace-launches-sea619-to-support-black-entrepreneurs-in-seattle/
[3] PACE. (n.d.). About us. Retrieved from https://www.pace-global.org/about-us
