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Financial Benefits and Tools
2022 Accelerator Challenge

Financial Benefits and Tools

Every day, people across the country work to strengthen their long-term financial health by applying for public benefits, accessing emergency loans, saving for retirement, and securing insurance. Accessing these financial benefits and tools can require navigating complex processes with opaque terms and limited accessibility – significant barriers for many, including low- to moderate-income (LMI), Black, and Latinx individuals. 

The 2022 Accelerator Challenge will focus on addressing these gaps and identifying innovative solutions that can help LMI, Black, and Latinx communities access and navigate the landscape of financial health benefits and tools more effectively.

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Breaking Down Barriers Across Financial Services

Many LMI, Black, and Latinx individuals face systemic barriers preventing access to key benefits and financial tools, limiting their opportunities to improve financial health. The 2022 Accelerator Challenge will focus on strengthening financial resilience by improving safety nets for these vulnerable Americans.

Breaking Down Barriers Across Financial Services

Who Should Apply?

Who Should Apply?

The 2022 Accelerator Challenge aims to support companies developing fintech solutions that improve ease of use and access to a broader set of benefits and tools for LMI individuals and Black and Latinx communities.  We’re especially interested in solutions that can:

  • Optimize public and private benefit experiences and tax system navigation
  • Enhance enterprise and consumer applications to manage healthcare costs and decisions
  • Deliver affordable services to help address obligations within the legal system
  • Strengthen resources and safety nets to protect against income volatility and economic shocks
  • Improve access to retirement preparation and navigation tools

The Accelerator also prioritizes supporting founders and teams with lived experience of the issues they are addressing, and companies committed to diversity, equity, and inclusion principles at all levels of their organizations. To explore the types of companies selected for previous Accelerator cohorts, view our portfolio. For more information, read our full Application Criteria. If you still have questions before you apply, join an upcoming Office Hours to speak directly with the Accelerator team.

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What Do Accelerator Companies Receive?

Each company selected to participate in the 2022 Accelerator Cohort will receive:

  • Up to $100,000 from the Financial Health Network
  • Product and user behavioral insights to help inform development and market strategy
  • 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 
  • Support to further diversity, equity, and inclusion

What Do Accelerator Companies Receive?
Timeline

Timeline

  • November 9, 2021: Applications open
  • December 20, 2021: Applications close 
  • Q1 2022: New cohort members selected and Accelerator program begins
  • Q3 2022: Culmination of the 2022 program

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Ready to Apply?

Review the application and more instructions as you prepare to submit your application. 

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