We are currently not accepting any applications but interested candidates or partners can reach out to us at breakthroughlab@bofa.com.
Bank of America Breakthrough LabTM
What if your big idea became a powerful force for change?
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. Our part-time program provides hands-on mentorship to a small group of early-stage businesses by helping founders build growth models, establish industry contacts and position themselves for new funding. Whether you’re looking for digital expertise, industry connections, or access to capital, you can count on us. Your success is our success.
Who is eligible
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 our program is to increase access for underrepresented groups, all eligible entrepreneurs regardless of background are encouraged to apply.
What benefits can you expect?
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.
How it 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:
- Two to four hours per week of education
- Weekly one-on-one team office hours
- Dedicated senior-level mentors
- Expert insight from industry professionals
Introducing Breakthrough Lab cohort
Meet the fintech companies that are part of the program.
Muse Tax Inc. | Quinn Cobbledoger |
Wealthmore | NudgU |
My Home Pathway | We Pair Health |
Moneta App | Framework |
SpendDebt | TradeIn |
It Starts with Me | Pardna |
RE: Link | RONDU |
SayLambda | Creizer |
Locol |
Our alumni companies:
Multigenerational
The Zone
Petter
Universal Monetary Systems
Sheer
Meet the leaders
This program is part of the larger initiative from Bank of America to help advance economic and social progress worldwide. Breakthrough Lab is developed and led by a diverse team of industry experts.
Program Sponsors
Rodney Gardner | Managing Director, Co-Head — GTS Social & Economic Action Council
Derrick Walton | Managing Director, Emerging Payments, Program Sponsor
Program Team
Rina Arline | Managing Director, Program Director
Linda Haddad | Director, Program Coordinator
Made possible with support from
Connect with us for partnership or investment opportunities.
