Eight finalists will compete for the $10,000 grand prize in the inaugural Black Men Ventures Pitch Competition at 7:30 pm on August 16th.
A partner agency to Black Girl Ventures, Black Men Ventures exists to help black men founders have equitable access to professional and financial capital to meet business milestones leading to sustainable economic advancement, narrowing the wealth gap through entrepreneurship.
Alfred Duncan, founding member and CEO of Black Men Ventures, says the pitch competition meets a crucial need in equipping black male entrepreneurs.
“We understand that financial capital is the biggest challenge for most Black male founders,” Duncan said. “It’s not that we don’t have brilliant ideas or a community that will support ideas. We just don’t have the capital to produce it. Although Black Men Ventures gives access to other forms of capital, our priority is giving founders access to financial capital. We believe that the only way to achieve equality is through equity.”
Pitch competition viewers will be able to vote with their dollars. The finalist with the highest number of votes will take home the grand prize of $10.000.
“Our pitch competition is unique,” Duncan said. “It’s driven by the community, and the decision is made by the community. Everything gravitates around the people our founders will be servicing. We are all community members in some form or fashion. If you’re a community member, chances are you’re invested in the growth of that community. Our pitch competition is designed to allow the community to select the founder. It also allows the community to invest in the project as well.”
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