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Bank of America (BOFA) Breakthrough Lab Accelerator Program 2022/2023

The Bank of America Breakthrough Lab Accelerator Program 2022/2023 Application Has Commenced. See full details of how to successfully apply for the Bank of America Breakthrough Lab Accelerator Program.

Bank of America Breakthrough Lab Accelerator Program

Breakthrough Lab is an impact accelerator program that provides economic opportunity and capital access to Black, Hispanic-Latino, Native American, and other underrepresented minority entrepreneurs.

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Qualification and Requirements for BOFA Breakthrough Lab Accelerator Application

The Breakthrough Lab is open to:

Entrepreneurial-spirited teams with a minimum of two and a maximum of five members
Founders from Black, Hispanic-Latino, Native American, and other underrepresented groups (Minority ownership of 50% or greater)
Ideas related to financial technology and tech-enabled solutions promoting financial inclusion
Participants that have not received prior seed funding

While the aspirational goal of BOFA program is to increase access for underrepresented groups, all eligible entrepreneurs regardless of background are encouraged to apply.

Benefits You Can Expect from BOFA Breakthrough Lab Accelerator

Curriculum — Access and exposure to bank and industry financial technology experts offer key content of the curriculum.

Mentoring — Establishing connections with senior-level bank mentors and access to bank and industry pros provides essential guidance.

Access to capital — Pitch day and curriculum can open opportunities for capital by establishing connections to potential investors, CDFIs and grant providers.

Program Expenses — Bank of America will pay for select expenses associated with the program.

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How BOFA Breakthrough Lab Accelerator Works

The six-month, part-time program provides business resources and best practices from industry experts and successful startups. The high-touch program offers four levels of support: