Two enterprising students from Stanford University have successfully secured $2 million to establish an accelerator program named Breakthrough Ventures, designed to support businesses initiated by college students and recent graduates across the nation.
Roman Scott and Itbaan Nafi took the initiative to create this accelerator following a series of successful Demo Days at Stanford that began in 2024, where they witnessed students achieving remarkable outcomes.
Nafi, still pursuing his master's degree at Stanford, expressed to TechCrunch, "This fundraising transforms Breakthrough from a seasonal accelerator into a lasting partnership with our founders."
Scott, who completed his undergraduate studies at Stanford in 2024, furthered his education with a master's degree the following year.
Last year, the duo appointed Raihan Ahmed to spearhead the accelerator, subsequently engaging with investors such as Mayfair and Collide Capital, along with numerous Stanford alumni entrepreneurs, to support the next wave of innovation in AI, health, consumer products, deep tech, and sustainability. Scott highlighted that their accelerator is unique as it is crafted "for student founders by student founders."
Programs aimed at students are not entirely new; UC Berkeley has its Free Ventures initiative for pre-seed funding, while MIT offers the Sandbox Innovation Fund. Stanford also hosts several accelerator programs, including StartX, LaunchPad, and Cardinal Ventures.
Nafi noted that participants have appreciated the community aspect of their program, likening it to Stanford's Treehacks hackathon, which fosters collaboration among students from various American universities.
Scott elaborated on Breakthrough's mission, stating, "The goal is to bridge the funding and opportunity gap that many students face, as they have historically encountered barriers to accessing capital and essential networks for launching their entrepreneurial endeavors."
The accelerator will operate on a hybrid model, featuring in-person gatherings at prominent VC firms, culminating in a Demo Day at Stanford. Participants will have access to grant funding of up to $100,000, computing credits through partnerships with Microsoft and NVIDIA, legal support, Waymo ride credits, and mentorship from industry leaders, including Waymo CEO Tekedra Mawakana. Additionally, participants may receive a $50,000 follow-on investment upon program completion, according to Nafi.
"We've perfected the student-founder experience," Nafi stated. "This is why we offer such comprehensive resources and have structured the program to resonate with students, as we share their journey."
The founders aim to allocate the fund over the next three years, aspiring to incubate at least 100 startups. Nafi envisions Breakthrough evolving into "the epicenter for Gen-Z entrepreneurship and thought leadership," particularly addressing the economic concerns that many young individuals face today.
Applications for the new cohort are now open, and Nafi expressed hope that by empowering young entrepreneurs, they can inspire countless others globally to leverage available resources and knowledge to embark on their entrepreneurial journeys, ultimately fostering community transformation and economic stability for themselves and their families.
