Oakland, CA - Terner Housing Innovation Labs announced today the fourth cohort of entrepreneurs admitted to its housing accelerator. The focus of the accelerator is to seed and grow ventures making homes and communities more affordable, accessible, and sustainable. The ventures selected for the 2023 Housing Lab Cohort are A New Way of Life Reentry Project, CredEvolv, Housing Connector, Kit Switch, and Revalue.io.
The five ventures will each receive $75,000 of seed funding and six months of intensive coaching and technical assistance to support their work. This year’s cohort, selected from more than 100 applicants, represents some of the most promising models to respond to the nation’s affordability crisis. The cohort members address racial inequity in access to stable housing and center sustainability and justice in the construction and renovation of housing.
The United States is experiencing spikes in every facet of the housing crisis, from homelessness to rental rates to home prices. The Housing Lab searches for solutions that can support system-wide change. “When housing news is so often demoralizing, the Housing Lab brings sparks of hope,” said Terner Housing Innovations Lab CEO Ben Metcalf. “In the accelerator, a rare blend of housing innovators bring lived experience, advocacy, and tenure in the public and private sector to tackle bottlenecks in housing systems that can have an outsized impact on entrenched problems.”
As part of a three-year collaboration between the Housing Lab and the Wells Fargo Foundation, the 2023 cohort continues a focus on furthering organizations and businesses that support sustainability and resiliency through housing construction, including innovations in carbon reduction and energy efficiency.
Founded four years ago, The Housing Lab has previously worked with 17 ventures, nearly two-thirds of which have been led by people of color. Past ventures have gone on to raise over $400 million and improve outcomes for more than 50,000 people looking to find housing, pay a mortgage, or build credit. The Housing Lab is unique among accelerator programs in that it works with a variety of organizations and models—including housing developers, nonprofits, venture-backed companies, and programs of existing organizations—all of which have thrived after participating in the program.
Additional information on the five ventures selected for the 2023 Cohort:
About The Housing Lab
The Housing Lab, founded in 2019 within the Terner Center for Housing Innovation at U.C. Berkeley, is now a program of Terner Housing Innovation Labs, a 501(c)3 nonprofit. With a mission to identify and accelerate early-stage ventures with the potential to make housing more affordable and fair, The Housing Lab is the first national innovation lab focused exclusively on lowering the cost of housing. The Housing Lab is supported by the Chan Zuckerberg Initiative, Wells Fargo, JPMC, The Hilton Foundation, The Ivory Foundation, The Howard and Irene Levine Family Foundation, The Making Waves Foundation, and several other philanthropic organizations and individuals. Learn more about our past cohorts here.