Roman Scott and Itbaan Nafi, two Stanford University students, are starting their own fund, Breakthrough Ventures. This groundbreaking accelerator program will offer both seed capital and invaluable resources to U.S. college students and recent graduates who are passionate about entrepreneurship and want to start their own businesses. With an impressive initial funding of $2 million, Breakthrough Ventures aspires to support young entrepreneurs nationwide in their quest for innovation.
Breakthrough Ventures aims, through founders with high potential in AI, health, consumer technologies, deep tech, and engine of growth sustainability. The program is designed “for student founders by student founders,” emphasizing a unique understanding of the challenges faced by young entrepreneurs.
Participants in the accelerator will have the opportunity to receive up to $100,000 in grant funding. Beyond capital, Breakthrough Ventures works closely with Microsoft and their collaborative Nvidia Inception program. Combined, they provide the essential compute credits that tech startups require to grow and flourish. Additionally, participants will receive legal support and mentorship from industry leaders such as Waymo CEO Tekedra Mawakana.
Scott and Nafi have intentionally designed Breakthrough Ventures to encourage community building and networking between the student entrepreneurs. The accelerator features a hybrid model. It combines dynamic virtual engagement with real-world interaction, like in-person meetups at some of the country’s top venture capital firms. The full program culminates in a Demo Day at Stanford. Participants will get the chance to pitch their start-ups and ventures to investors.
Breakthrough Ventures hopes to incubate at least 100 companies over the next three years. This new initiative will help close the funding and opportunity gap that has long limited access to capital for student founders.
“Breakthrough’s purpose is to fill in the funding and opportunity gap that exists in many of these ecosystems because students have historically lacked access to capital and the networks required to launch their entrepreneurial pursuits,” – Roman Scott.
Nafi expressed the vision behind the accelerator: “We hope that by supporting young entrepreneurs, we’re able to uplift as many stories as possible to then inspire many more across the world to use the tools and knowledge around them to pursue entrepreneurship not only to change their communities, but gain economic stability for themselves and their families.”
That’s why the founders focused on creating a community that promotes creativity and collaboration. Nafi stated, “Students have enjoyed how we’ve brought together so many others from different American colleges.” That inquisitive, collaborative spirit is the heart of Breakthrough Ventures’ mission.
Participants will be given Waymo ride credits to spend, making their experience throughout the program even better. Breakthrough Ventures has emerged as an important new actor in this student-founded ecosystem. Their unique blend of financial support, guidance from experienced entrepreneurs, and real-world tools make the difference.
“We’ve nailed the student-founder experience to a T,” – Itbaan Nafi.
The new upstart Breakthrough Ventures announced today is more than just another way to fund their ideas. It’s a step in the right direction. The program is deeply committed to inclusivity and deliberately nurtures a diverse array of ventures. It’s poised to do so in a way that could make a profound impact on the future of innovation!
Nafi concluded by highlighting the transformative potential of this initiative. “This fundraise turns Breakthrough from just being a seasonal accelerator into a lifelong partnership with our founders.”
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