Two Stanford students announced on Monday that they have successfully secured $2 million for an accelerator program named Breakthrough Ventures, designed to support businesses established by college students and recent graduates across the nation.
Roman Scott and Itbaan Nafi initiated the development of the accelerator following a series of well-received Demo Days at Stanford, starting back in 2024, and opted to expand it upon witnessing the success of participating students.
“This fundraising allows Breakthrough to transition from a seasonal accelerator to a lifelong partnership with our founders,” Nafi, who is currently pursuing a master’s degree at Stanford, shared with TechCrunch.
Scott completed his undergraduate studies at Stanford in 2024 and subsequently earned a master’s degree the following year.
In early 2022, the pair enlisted Raihan Ahmed to lead the accelerator and embarked on their journey, officially raising funds from notable entities such as Mayfield and Collide Capital, along with numerous Stanford founder alumni, to support the burgeoning landscape of AI, health, consumer tech, deep tech, and sustainability startups. Scott highlighted that their accelerator is uniquely tailored “for student founders, by student founders.”
While student-focused programs are not new, with UC Berkeley offering a similar initiative called Free Ventures and MIT housing its Sandbox Innovation Fund, Stanford also provides several accelerator options affiliated with the institution, including StartX, LaunchPad, and Cardinal Ventures.
“Students have appreciated how we have gathered individuals from various American colleges,” Nafi remarked regarding his program, likening it to Stanford’s Treehacks hackathon.
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“Breakthrough’s mission is to address the funding and opportunity gaps prevalent in many ecosystems, as students have historically faced challenges in accessing capital and the necessary networks to embark on their entrepreneurial journeys,” Scott added.
The Breakthrough program will adopt a hybrid model, featuring in-person meetups at prominent VC firms and culminating in a Demo Day at Stanford. Participants will benefit from grant funding (up to $10,000), computing credits (via Microsoft and the NVIDIA Inception program), legal support, mentorship, and the opportunity to secure a follow-on investment of $50,000 at the program’s conclusion, according to Nafi.
“We have meticulously crafted the student-founder experience,” Nafi stated. “This is why we provide the resources we do and have structured the program accordingly. Students genuinely feel understood, and that’s because we are students ourselves.”
The duo aims to allocate the fund over three years, targeting the incubation of at least 100 companies. Nafi aspires for this fund to evolve Breakthrough into “the epicenter for Gen Z entrepreneurship and thought leadership,” especially in light of the economic anxieties faced by many young individuals.
Applications for the latest cohort are now open.
“By supporting young entrepreneurs, we hope to amplify as many narratives as possible, inspiring others globally to utilize the tools and knowledge at their disposal to pursue entrepreneurship—not only to transform their communities but to achieve economic stability for themselves and their families,” Nafi concluded.
This article has been updated to correct the name of one of the investment firms.
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