How Jaylen Brown’s Nonprofit Aims to Generate $5 Billion in Wealth for Underrepresented Communities

Jaylen Brown, the 2024 NBA Finals MVP and Boston Celtics star, is taking significant steps beyond the basketball court to make a lasting impact on underrepresented communities with the launch of a revolutionary nonprofit: Boston XChange (BXC).

Following his groundbreaking five-year supermax contract extension worth $304 million, Brown is fulfilling his pledge to bring Black Wall Street to Boston, Massachusetts. 

Boston XChange, unveiled one year after Brown’s monumental contract announcement, is a nonprofit organization dedicated to generating $5 billion in new wealth for underrepresented communities. This ambitious goal will be achieved through strategic investments, partnerships, coaching, and providing resources and workspaces for creators. 

In a press release, Jaylen Brown emphasized the importance of collaboration in driving systemic change. “True systemic change requires collaboration, shared vision, and collective impact. 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,” he stated.

BXC has already formed alliances with prestigious institutions and community organizations, including MIT Entrepreneurship Centers, Roxbury Community College, and Harvard. These partnerships are pivotal in aligning with BXC’s mission to close the wealth gap and transform Boston’s economic landscape. 

Luciano Ramos, executive director of the Center for Economic and Social Justice (CESJ) at Roxbury Community College, expressed enthusiasm for the collaboration. “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,” Ramos said.

The first major initiative under BXC 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 bring their projects to life. 

Participants will have access to work and maker spaces, and 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. Coaching services will also be provided over a three-year period.

Lauren Holiday says, “Jrue and I are excited for Jaylen and what the Boston XChange will mean for Boston’s creators. 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.”

Yscaira Jimenez, BXC’s entrepreneur in residence and MIT lecturer on systems change innovation, also weighed in on the program. “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. I am so glad that Jaylen and partners are bringing this to life,” she said.

For those eager to join The Boston Creator Incubator & Accelerator, the application can be found here, with the deadline set for August 15, 2024.

By leveraging his platform and resources with the creation of Boston XChange, Jaylen Brown is not only creating opportunities for underrepresented communities but also setting a powerful example of how athletes can drive social impact and contribute to building a more equitable society.