Newlab’s Founder Fellowship, in collaboration with the New York City Economic Development Corporation (NYCEDC) and Bank of America, has selected a cohort of 28 urban and climate-tech founders from underrepresented backgrounds to participate in this year’s program, on the heels of a successful inaugural cohort.

The goal of the Fellowship is to accelerate the pace of tech innovation in New York City and support a diverse community of tech entrepreneurs, with a focus on disruptive solutions in energy, mobility, and materials. Fellows will receive a one year membership to Newlab’s Brooklyn Navy Yard headquarters and its on-site product realization facilities including a textiles lab, CNC milling, industrial-grade 3D printing and more, along with access to networking, fundraising, one-to-one mentorship, educational programming, and other resources necessary to grow their businesses. 

“We are thrilled with the high caliber and ambitious missions of this year’s cohort,” said Jack Fritzinger, Program Manager for Newlab’s Founder Fellowship. “Our founders have a vision for the future. With access to the extensive resources available at Newlab, and support from our partners at NYCEDC and Bank of America, we hope to help them get there faster.”

Selected founder teams include electric aircraft provider Avol Aerospace, sustainable textile manufacturer Cellsense, carbon credit marketplace Climastry, energy storage and distribution company SkyTerra Power and more listed separately. While fellows’ companies span sectors, they center around sustainability, solutions for the future of cities, and planetary health. All are led by founders who identify with underrepresented groups in the startup and tech space.

“We are excited to support these diverse founders, who are leading technology-enabled emerging growth and sustainable companies,” said Dzung Nguyen, Market Executive at Bank of America. “Our partnership with Newlab continues our focus on the emerging growth and technology sector through all growth stages, providing thoughtful advisory, industry-leading solutions and a cutting-edge platform.”

Strong partnerships with Bank of America and NYCEDC will allow Newlab to scale up the Founder Fellows program, from eight companies taking part in the inaugural cohort to 28 founder teams participating in the second installment. 

“New York is leading the effort to build a more vibrant and diverse tech ecosystem with initiatives like the Founder Fellowship – a program that will provide essential resources to help innovators scale their ventures right here," said Fernando Montejo NYCEDC Assistant Vice President of Initiatives and leader of Venture Access NYC. “We are excited to continue our partnership with Newlab as they welcome their next cohort of Founder Fellows and help fuel the growth of technology and innovation in New York.”

The Fellowship officially kicks off at Newlab’s facility in the Brooklyn Navy Yard on March 20th.

About Newlab

Newlab is a center of invention applying innovation to some of the world’s most complex challenges in mobility, energy and materials. The heart of Newlab is its community of inventors, engineers, scientists and entrepreneurs collaborating with partners across industries and sectors. Newlab pairs these solvers with challenges and fosters a culture of relentless incrementalism applied to real world problems to build, test, and scale world-changing solutions.

About New York City Economic Development Corporation

New York City Economic Development Corporation is a mission-driven, nonprofit organization that creates shared prosperity across New York City by strengthening neighborhoods and creating good jobs. We work with and for communities to bring emerging industries to New York City; develop spaces and facilities for businesses; empower New Yorkers through training and skill-building; and invest in sustainable and innovative projects that make the city a great place to live and work. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.

About Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 16,000 ATM and award-winning digital banking with approximately 56 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.