CODE2040 LOGOCODE2040 has partnered with Google for Entrepreneurs to launch an Entrepreneur in Residence program aimed at fostering diversity with local tech startups.

The program is aimed at “boosting the pipeline of Black and Latino/a entrepreneurial talent and creating diverse tech ecosystems in select locations around the country,” according to a news release.

THe program called CODE2020 Residency is working with Capital Factory in Austin and two other tech hubs, 1871 in Chicago and American Underground in Durham.

“The EIR will receive a year of support through CODE2040 and Google for Entrepreneurs’ NextWave campaign,” according to a news release. “Our aim is to help the selected EIR grow a sustainable business that will impact the local economy while also assisting him or her to create programming designed to build a stronger and more diverse local entrepreneurial ecosystem.”

Every person selected for the program in Austin will receive $40,000 in seed capital, workspace at Capital Factory and a trip to the Googleplex in Silicon Valley for training, networking and mentoring programs.

To qualify, applications must be Black or Latino/a, be a resident of Austin or relocate there, be a founder of an early stage tech venture and be committed to impacting the racial, ethnic, and gender makeup of their local tech sector.

Applications will be accepted until Feb. 17th.