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AP National Business

Brooklyn Nets owners start program for minority-led startups

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Published 7:12 AM

By GLENN GAMBOA
AP Business Writer

NEW YORK (AP) — Clara Wu Tsai, co-owner of the Brooklyn Nets, launched the largest business accelerator for minority founders of early-stage startups on Monday. Named BK-XL, the accelerator will invest up to $500,000 each in 12 startups led by Black, Indigenous and other minority founders in 2023. The accelerator is another piece of her racial justice work, with her husband Joe Tsai, to improve economic mobility for minorities. Because of their ownership of the Brooklyn Nets and the Barclays Center arena in Brooklyn, they have decided to focus their economic mobility donations and investments in the New York City borough as well to maximize their impact.

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