XRC Labs, an accelerator focused on the retail technology and consumer packaged goods sectors, has launched XRC Elevate, a fellowship program that aims to bring resources and tools to underrepresented startup founders of color. XRC Elevate fellows will participate in the program alongside XRC Labs Accelerator companies, and the first fellow will receive a $5,000 grant.
The program will be offered twice a year. All fellows will receive access to selected XRC Accelerator classes, working sessions with the XRC Labs Growth team and introductions to the accelerator’s mentor network.
“XRC Elevate is the next step in our mission to help close the inequality gap in the startup community,” said Pano Anthos, Founder and Managing Director at XRC Labs in a statement. “The reality is that many communities don’t have the same access to connections or startup mentorship as others. Our goal is for XRC Elevate to help even out the playing field. To date, 31% of our portfolio companies were established by founders of color and we are eager to continue building on this.”
Applications for the inaugural fellowship will be accepted through Jan. 24, 2021. Further details and the application can be found here.