The new accelerator program is called Forward.

On March 14, Square (NYSE: SQ) and the Social Change Fund United jointly announced the launch of an accelerator program aimed at supporting Black and Latino entrepreneurs. The program, called “Forward,” offers mentorship, coaching, and funding to early-stage businesses. Naomi Wheeless, Square Global Head of Customer Success, said that Square is dedicated to providing entrepreneurs of color with the necessary resources to succeed. The program seeks to create a space where these entrepreneurs can receive support and coaching, allowing their ideas to flourish. (PYMNTS)

The Forward program will provide 25 early-stage businesses with $20,000 in funding, training from 1863 Ventures, mentor masterclasses, individual coaching, Square hardware, and Square checking and savings accounts. In addition to Square, American Express will also provide funding and coaching opportunities for those participating in Forward.

Social Change Fund United Co-Founder Dwyane Wade said that the partnership with Square will help meet the organization’s goals of supporting minority-owned businesses and promoting fairness and equity in society.

Through Forward, Square and the Social Change Fund United aim to support entrepreneurs of color in achieving long-term success.

Applications for the accelerator program will be open until April 1st.

Related Story:  Black-Owned VC Firm Collide Capital Raises $66M From Top Investors

Photo by Christina @ wocintechchat.com on Unsplash