FAQ
Who are Jaylen Brown and BXC?
Jaylen Brown is an All-Star 2024 champion, shooting guard and small forward, 2024 finals and conference MVP, and holder of the largest NBA contract in history in 2023 with the Celtics. His vision for Boston is rooted in addressing the stark racial wealth gap and fostering economic empowerment through innovation and cultural diversity. Jaylen aims to generate $5 billion in additional net wealth for historically marginalized communities in Boston, creating opportunities that not only redress deep-seated inequities but also stimulate the overall economy.
Jaylen’s vision extends beyond financial gain; it is about creating a supportive ecosystem where underinvested creators can thrive. By establishing the Boston XChange (BXC), Jaylen seeks to cultivate a vibrant hub for innovation and creativity, empowering under-invested communities through access to capital, state-of-the-art facilities, cutting-edge programming, and a robust network of support and mentorship.
Who are Jrue and Lauren Holiday and what is the JLH Fund?
Jrue Holiday, a 2021 & 2024 NBA Champion and All-Star Point Guard, and his wife, two-time Olympic gold medalist Lauren Holiday, pledged the remainder of Jrue’s 2020 NBA salary to combat the systemic racism and socioeconomic inequality brought to light after George Floyds passing. This $5.3 million contribution founded the JLH Fund.
Through the JLH Fund, entrepreneurs from underinvested communities were selected across the country with emphasis on making a social impact in Jrue and Lauren’s hometowns of Los Angeles and Indianapolis, as well as New Orleans and Milwaukee, cities where Jrue has played in the NBA. Since 2020, the JLH Fund has continued to provide resources and funding resulting in over 191 grantees and $5.3 million in grant awards.
What is a creator?
The Boston Creator Incubator + Accelerator defines a creator as a visionary whose work innovates, influences, and shapes culture across a wide array of fields and disciplines. From authentic storytelling through video and music to the rich expression found in culinary arts and dance, creators not only inspire and transform society but also drive economic growth as vital contributors to the economy.
What is an incubator? What is an accelerator?
Although there are now many different models, including those that do both, per Bill Aulet, “the key distinctions between incubators and accelerators are time period and structure. An incubator gives startups workspace and community at an affordable rate for an indefinite time period. Accelerators generally have workspace and a cohort that forms a community. They are run over a fixed time period with some significant degree of structure with regard to education and coaching. Accelerators are also capped by a demo day after which startups have to make it on their own, without further subsidy from the accelerator.” You can learn more about the difference here.
Boston Creator Incubator + Accelerator is a hybrid, where creators will get both incubation and acceleration in the form of space, community, investment, education and coaching.
Why both an incubator and accelerator?
Low income communities have historically been underinvested in and to accelerate closing the wealth gap, the Boston Creator Incubator + Accelerator team believes both are necessary.
Do I need to have revenue to qualify?
Yes. Eligible initiatives need to have made $50,000 a year for the last year or be projected to make that much in the current year.
Do I need to be incorporated?
Yes, your business needs to be incorporated.
Do non-profit companies qualify?
No. The Boston Creator Incubator + Accelerator is working on a separate initiative to fund non-profit organizations in the future. This Incubator is for creators with for profit companies.
Are there any restrictions on how I spend the grant funds?
No, the grant funds are nonrestrictive.
Do you take equity?
No, we do not take equity.
Is there a cost to participate?
There is no cost to participate. However, all recipients are required to attend the weekly training and coaching sessions.
How long is the program?
Program Phase 1 (October 2024 – February 2025):
Business support via in person Workshops, demo day, and digital public-facing campaign
Program Phase 2 (February-May 2025):
Capital readiness support via due diligence readiness for future fundraising
Program Phase 3 (June 2025-September 2027):
Community building and support
What are the specific dates for the in person part of Phase 1?
The program will meet virtually for 2 hours every Thursday, except on in person workshop days listed below.
Workshop 1: 10/10/24–10/11/24 9am–5pm
Workshop 2: 11/7/24–11/8/24 9am–5pm
Workshop 3: 12/5/24–12/6/24 9am–5pm
Workshop 4: 1/9/25–1/10/25 9am–5pm
Demo Day + Celebration: 1/20/25 (MLK Day)
Public Facing Campaign: 2/1/25
Who are some of the instructors?
Kimberly Tignor is a civil rights attorney and the executive director of the Boston XChange, the Institute for Intellectual Property & Social Justice and Take Creative Control
Renee King is a Fintech & Racial Equity leader, empowering Black founders & spearheading social justice in funding (FundBlackFounders CEO) and the project lead for the JLH Social Impact Fund
Yscaira Jimenez is a serial social entrepreneur, founder of LaborX and Lecturer at MIT
Svafa Gronfeldt is a serial entrepreneur, a professor of the practice in the MIT School of Architecture and Planning and a founding member and faculty director of MITdesignX, a program focused on design innovation and entrepreneurship
Bill Aulet is a serial entrepreneur, the managing director of the Martin Trust Center for MIT Entrepreneurship, Ethernet Inventors professor of the practice at the MIT Sloan School of Management and author of Disciplined Entrepreneurship: 24 Steps to a Successful Startup.
Archie Jones is an investor, advisor, coach, author and Senior Lecturer at the Harvard Business School with an appointment in both the Finance and Entrepreneurial Management Units.
Emily McComb is a Senior Lecturer in the Finance Unit at Harvard Business School, where she teaches “Finance 2” and co-leads the HBS Impact Investment Fund. Before joining HBS in 2017, she was a Managing Director at Bain Capital, leading the Healthcare team in the public equity division.
Who should apply?
Applicants must be based in the Greater Boston Area+ and be 18+ years of age. Special attention will be paid to applicants from the following cities.
What is considered the Greater Boston Area+?
Brockton*
We are also encouraging residents of the Native American Reservations across MA to apply
Chaubunagungamaug, Worcester County.
Hassanamesit, Worcester County.
Mashpee Wampanoag, reservation land in Mashpee (Barnstable County) and Taunton (Bristol County)
Aquinnah, Dukes County, Martha’s Vineyard