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.
Meet our 2021 cohort companies and learn how they’re promoting financial growth and resilience for underserved populations post-pandemic.
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.
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:
For a list of companies selected for previous Accelerator cohorts, view our portfolio of companies. For more information, read our full Application Criteria.
Each company selected to participate in the 2021 Accelerator Cohort will receive:
Our 2021 Accelerator Challenge companies are offering credit solutions, insurance, digital banking options, and asset-building services for underserved populations, including Black, Latinx, and LGBT+ communities.
October 27, 2020: Applications open
January 12, 2021: Applications close
Spring 2021: New cohort members selected, Accelerator program begins
December 2021: Culmination