POWERED BY AARP INNOVATION LABS
CULTIVATE: HACK THE WEALTH GAP
SUPPORTING THE NEXT GENERATION OF PROMISING BIPOC TECH STARTUP FOUNDERS WORKING TO REDUCE WEALTH INEQUALITY IN THE U.S.
POWERED BY
According to the Brookings Institute, a close examination of wealth in the U.S. finds evidence of staggering racial disparities. At $171,000, the net worth of a typical white family is nearly ten times greater than that of a Black family ($17,150) in 2016. Gaps in wealth between Black and white households reveal the effects of accumulated inequality and discrimination, as well as differences in power and opportunity that can be traced back to this nation’s inception. The Black-white wealth gap reflects a society that has not and does not afford equality of opportunity to all its citizens.
Cultivate: Hack The Wealth Gap powered by AARP Innovation Labs is a 3 month initiative to support eight (8) BIPOC-led tech startups working to reduce wealth inequality in the United States of America. Highlighted by a pitch competition to provide $10,000 in non-dilutive cash awards as well $25,000 in program value from AARP Innovation Labs to the 1st place winner, the initiative also features support as admittance into our Intentionally Good program for all eight finalists.
We’re on a mission to collectively reduce the wealth gap in this country 30% by the year 2030 by putting people and relationships at the center of tech. Relationships matter. This is tech done right. Join us.
About AARP + AARP Innovation Labs
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP Innovation Labs engages with early-stage startups to help them accelerate their core business, identify new opportunities, and ultimately tap into the massive age 50+ economy.
THESE FOUNDERS GOT NEXT
These founders are far less likely to be connected to those that work at top companies or graduated from top colleges/universities. This leads to a lower likelihood of receiving financing, higher risk of stress, and stalled professional development.
Here’s How You Can Help Them Today
Scroll down the list of founders below to find the one(s) you might be able to assist. Click on their card for more information, and then click on the “Introduction Link” to start the process of getting in contact with them. Note: Please no service providers. You can register here as an expert.
PITCH COMPETITION JUDGES + PERFORMER
HOW HACK THE WEALTH GAP WORKS
PITCH COMPETITION
The eight (8) finalists will present to a panel of industry veterans for the opportunity to win $10,000 in non-dilutive funding plus $25,000 in program from AARP Innovation Labs. The 2nd place winner receives $2,500 in non-dilutive funding. All eight finalists are admitted into Goodie Nation’s Intentionally Good program, and receive support from July – September.
PROFESSIONAL DEVELOPMENT
We evaluate the strengths and areas of improvement of founders through readiness evaluations; help them with goal & milestone setting; provide advice from experts including with storytelling & media training; and hold them accountable through groups, partners, and progress reports.
WARM INTROS
We connect our founders to professionals from prestigious universities & companies for increased opportunities; influencers for endorsements and advisor roles; large companies for pilots and partnerships, and to investors for potential funding.
MENTAL HEALTH
We host Founders’ Therapy each month – small group support sessions where the founders vent amongst themselves about problems only they can understand. It amplifies peace of mind.
HACK THE WEALTH GAP ACTIVITIES
Holding BIPOC Founders Working on the Wealth Gap Accountable for Making Progress and Helping Them Grow as Leaders. All Sessions are Virtual
Pitch Coaching: 1:1 sessions with experts to refine your pitch ahead of the pitch competition.
Readiness Evaluations: 45 minute sessions where 3rd parties assess your readiness to take on influencers, large companies, and funders.
Weekly Accountability Group Sessions: 30 minute small group video calls to report your morale, recent wins, plan for the upcoming week, and needs.
Weekly Peer Accountability + Review: You’re matched with another founder for check-ins on each other’s OKR progress as well as to rate each other’s investability.
Monthly 1:1’s: 30 minute check-ins with Program Manager and Entrepreneur-In-Residence
Office Hours: Book 45 minute calls with coaches for instruction on OKR improvement areas.
Educational Sessions: Workshops, group coaching sessions, etc.
Events: Invites to program events like mental health sessions and partner events.
Progress Report Events: online events where you report your recent progress to key stakeholders.
SCHEDULE
Our timeline for supporting founders during this initiative (subject to change)
Thursday, April 15th, 2021: Initiative Informational Session.
Monday, April 19th, 2021: Applications Open
Friday, May 21st: Applications Close
Wednesday, June 3rd: Eight (8) Founders Selected
June 14th – June 25th: Pitch Competition Coaching
Tuesday, June 29th: Pitch Competition
July – September: Intentionally Good Program Support
WATCH REPLAY
Learn more about the wealth gap and this is initiative through the conversation with Jacqueline Baker, VP Startup Programming at AARP Innovation Labs
