DreamIt And Comcast Partner For New Program For Minority Entrepreneurs

Comcast Interactive Capital, the venture capital arm of the media giant, has partnered with Philadelphia based venture fund and startup accelerator Dreamit Ventures to provide seed funding, training, mentoring and other benefits to minority-led startups through DreamIt’s accelerator program. The new $350,000 fund will give five minority-led startups (chosen by DreamIt) for its Fall Philadelphia 2010 program a extra infusion of capital on top of the funding DreamIt provides for its class of startups. For Comcast Interactive Capital, this is the first investment initiative from the $20 million fund that was created as part of the acquisition of NBC Universal. The $20 million fund will be used to invest in other minority led startups and initiatives (outside of DreamIt), mainly in the technology sector.