BK-XL

BK-XL is an early-stage accelerator based in Brooklyn, New York, dedicated to supporting underrepresented founders. The program aims to invest early and actively assist founders in building businesses that benefit Brooklyn, New York City, and beyond. Co-led by Chris Martinez and Timi Dayo-Kayode, BK-XL takes meaningful equity ownership in each company to reinvest in more underrepresented founders.

The BK-XL accelerator provides a ten-week program that includes access to early-stage venture financing, office space, and ongoing mentorship. It is open to technology-enabled businesses across any sector and encourages applications from early-stage startups, particularly those from underrepresented backgrounds.

BK-XL offers participants an investment of $125,000 for 7% equity on a post-money SAFE, along with access to office space and ongoing mentorship throughout the program.

<p><strong>What are the eligibility criteria for BK-XL?</strong></p><p>BK-XL is open to early-stage startups led by underrepresented founders, particularly BIPOC individuals. The program encourages applications from technology-enabled businesses across various sectors.</p><p><strong>How does the application process work?</strong></p><p>Founders can apply through the BK-XL application page at <a href='https://bk-xl.com'>bk-xl.com</a>. The application process typically involves submitting a business plan and details about the founding team.</p><p><strong>What are the deal terms for participating startups?</strong></p><p>BK-XL offers $125,000 for a 7% equity stake in participating companies, structured as a post-money SAFE. This investment model is designed to support early-stage startups effectively.</p><p><strong>What is the format of the program?</strong></p><p>The program lasts for ten weeks and is primarily in-person, providing participants with direct access to mentors and resources. Founders engage in workshops and networking events throughout the program.</p><p><strong>What makes BK-XL different from other accelerators?</strong></p><p>BK-XL focuses specifically on supporting underrepresented founders and is powered by the Joe and Clara Tsai Foundation’s Social Justice Fund. This commitment to diversity and community impact sets it apart from many other accelerators.</p><p><strong>What are the success metrics for alumni?</strong></p><p>Success metrics for alumni include funding raised, business growth, and community impact. BK-XL tracks the progress of its portfolio companies to measure the effectiveness of its support.</p>