Jaylen Brown Launches Nonprofit Boston XChange With An Aim To Create $5B In New Wealth For Underrepresented Communities

Boston Celtics player and 2024 NBA Finals MVP Jaylen Brown is honoring his commitment to creating wealth for underrepresented communities.

As AFROTECH™ previously reported, Brown announced his plans to bring Black Wall Street to Boston, MA, after he signed a five-year supermax contract extension valued at $304 million in July 2023.

Boston XChange

One year later, Brown announced a new venture spawned from that desire — Boston XChange (BXC). According to a press release shared with AFROTECH™, Boston XChange is a nonprofit that aims to create $5 billion in new wealth for underrepresented communities through investments and partnerships that could lead to coaching from seasoned individuals, resources, and workplaces for creators.

“True systemic change requires collaboration, shared vision, and collective impact,” Brown said in the press release. “By working with community partners, thought leaders, and cultural influencers, we can create a powerful network of support and innovation. This collective effort will empower underserved communities, drive sustainable economic growth, and enhance the quality of life for everyone in Boston. The launch of the Boston XChange is a key component of this strategy, providing a dynamic hub for these collaborative efforts. Together, we can close the wealth gap and transform Boston’s economic landscape, ensuring that every individual has the opportunity to thrive and succeed.”

Already, BXC has onboarded MIT Entrepreneurship Centers, Roxbury Community College, and Harvard, as well as community organizations and advocates aligned in its mission as partners.

“Roxbury Community College is thrilled to partner with Jaylen Brown’s Boston Creator Program to increase RCC’s support of entrepreneurs in Greater Roxbury,” said Luciano Ramos, executive director of the Center for Economic and Social Justice (CESJ), in a news release. “The CESJ and Business Innovation Center at RCC were established to equip entrepreneurs with the knowledge, skills, and resources needed for success. This new and exciting partnership positions RCC to reach and assist the best, brightest and most innovative minds in Boston. We look forward to collaborating on work that makes a real and immediate financial impact on our community.”

The Boston Creator Incubator & Accelerator

BXC’s first step is the launch of The Boston Creator Incubator & Accelerator in partnership with Jrue and Lauren Holiday’s JLH Social Impact Fund. This program aims to provide creators in various industries — such as design, arts, media, entertainment, fashion, and culinary arts — with the necessary resources to conceptualize, produce, and launch their projects. Resources include access to work and maker spaces.

“Jrue and I are excited for Jaylen and what the Boston XChange will mean for Boston’s creators,” Lauren said in a statement provided to AFROTECH™. “We’ve seen the impact that’s possible when communities of support are built around underserved entrepreneurs. We are excited to work with Jaylen’s foundation and community organizations to layer our resources and make an even greater impact on Boston’s entrepreneurial ecosystem.”

The Boston Creator Incubator & Accelerator plans to offer participants up to $100,000 in grant funding and business services, thanks to collaborations with MIT’s Martin Trust Center, Harvard Business School, and Roxbury Community College. Participants will also receive coaching services over a three-year period.

“It’s exciting to have a systems change catalyst like Jaylen use his platform to convene, incentivize, and drive collective change with existing doers on the ground for underinvested creator communities and for a more prosperous Boston,” expressed Yscaira Jimenez, BXC entrepreneur in residence and MIT lecturer on systems change innovation, in a news release. “Having programs such as MITdesignX and the Martin Trust Center for MIT Entrepreneurship contributing their methodologies to help underinvested creators in their own backyard thrive is a dream come true. Even though I went to MIT as an immigrant from a low-income background who did not have access to a community of peers or friends and family to help fund my company, I wish I had access to a place and space like this when I was starting my company. I am so glad that Jaylen and partners are bringing this to life.”

How To Apply

For those interested in applying to The Boston Creator Incubator + Accelerator, the application deadline for creators is Aug. 15, 2024.