Apply Today! Now accepting applications for the Accelerator’s 2021 Challenge: Financial Resilience and Growth. Learn More
Financial Resilience and Growth
2021 Accelerator Challenge

Financial Resilience and Growth

The 2021 Accelerator Challenge – Financial Resilience and Growth – will focus on fintech solutions that help low- to moderate-income individuals and historically underserved communities in the U.S. improve financial resilience and long-term stability in the wake of the pandemic.

Applications close January 12, 2021.

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Innovating to Improve Financial Resilience and Growth

Two-thirds of adults in the U.S. are not Financially Healthy, according to the 2020 U.S. Financial Health Pulse, with Black Americans, people with low incomes, and women bearing the brunt of the economic burden of the coronavirus crisis. Months into the pandemic, underserved communities continue to be disproportionately affected, with a majority of Black and Latinx households across major U.S. cities reporting serious financial hardship. According to the JPMorgan Chase Institute, Black and Latinx families have 32 and 47 cents in liquid assets, respectively, for every $1 held by White families.

The coronavirus pandemic and economic crisis have exacerbated long-standing systemic inequities and hit financially vulnerable people especially hard. Our 2021 Accelerator Challenge aims to equip underserved individuals with fundamental financial tools, services, and protections designed to advance their financial health.

Innovating to Improve Financial Resilience and Growth
What Solutions are Needed?

What Solutions are Needed?

The 2021 Accelerator Challenge seeks fintech solutions to improve individuals’ financial resilience, which in turn can positively impact their housing, physical and mental health, job opportunities, and other areas of their lives. Specifically, this Challenge seeks applications from startups that offer tools and resources for:

  • Insurance
  • Credit-building
  • Short-term savings
  • Retirement and long-term savings
  • Budgeting
  • Financial decision-making
  • Financial coaching
  • Asset-building

For a list of companies selected for previous Accelerator cohorts, view our portfolio of companies. For more information, read our full Application Criteria.

Application Criteria

What Do Accelerator Companies Receive?

Each company selected to participate in the 2021 Accelerator Cohort will receive:

  • A $125,000 investment
  • Product development support to address user needs
  • Guidance to navigate the legal and regulatory fintech environment
  • Insights on impact and customer financial health measurement
  • Resources for external marketing and communications
  • Mentorship from financial services and financial health experts, including executives from JPMorgan Chase and Prudential Financial
  • Support to further diversity, equity, and inclusion within their organizations

What Do Accelerator Companies Receive?
Timeline

Timeline

October 27, 2020: Applications open
January 12, 2021: Applications close
Spring 2021: New cohort members selected, Accelerator program begins
December 2021: Culmination

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