BK-XL is an early-stage startup accelerator program focused on BIPOC founders and based in Brooklyn. The accelerator is a partnership between the Social Justice Fund and Visible Hands.
Donor Name: BK-XL
State: New York
Borough: Brooklyn
Type of Grant: Accelerator
Deadline: 01/20/2023
Size of the Grant: $500,000
Grant Duration: 10 weeks
Details:
Twelve startups founded by BIPOC leaders will be selected for BK-XL’s inaugural 2023 cohort and receive up to $500,000, which includes an initial investment of $125,000 (in return for seven percent equity) and an additional investment of $375,000 via an uncapped SAFE (upon meeting certain growth benchmarks and maintaining operations in Brooklyn for at least one year). In operating BK-XL, the Social Justice Fund is partnering with Visible Hands, a trusted investment platform and accelerator for early stage, overlooked founders.
In addition to receiving funding from BK-XL, selected founders will participate in a ten-week immersion program in Brooklyn during which they’ll receive office space along with ongoing mentorship and support from investors and operators at Blue Pool Capital, Visible Hands, BSE Global, the Brooklyn Nets, Barclays Center, and other partnering organizations. BK-XL and its network of partners will continue to support the selected companies after the completion of the accelerator program.
Brooklyn Residency: You do not need to be a current New York resident to apply. However, upon acceptance into the BK-XL program, you must be based out of Brooklyn for the duration of the programming.
Funding Information
The 12 companies participating in the program will receive investments of up to $500,000 on competitive terms. The program will run between April and June of 2023.
Key Highlights
- Investments of up to $500,000
- Office space at Camp David in Industry City for the participating founders
- Ongoing mentorship and support from investors and operators at Blue Pool Capital, Visible Hands, BSE Global, the Brooklyn Nets, Barclays Center, and other partnering organizations
- The opportunity to hear from and engage with investors and industry-leading operators across a variety of events
- A peer group of exceptionally talented founders who will be there for you as you take your entrepreneurial journey to the next level.
For more information, visit BK-XL.
