The I am Black Business Pitch Competition is currently taking applications. This competition is perfect for Black-owned businesses that want a grant.
The I am Black Business Pitch Competition is currently taking applications. This competition is perfect for Black-owned businesses that want a grant. The competition runs from February 6, 2023, at 10 am EST to February 28, 2023, at 11:59 pm EST or when the maximum number of applicants is received. Here is what you need to know before you apply.
Do I Qualify?
Before you work on your pitch, find out if you qualify first!
In order to be eligible, you must:
- Identify as Black or be Black-owned and operated
- Be located in the United States. Your business has to be located in the US as well.h
- Have a business bank account in the business name. If your business has not started yet(pre-revenue) a regular checking account works (cash app, PayPal cards, or the like will not be accepted)
- Provide business verification documents and a W-9 form
- Use the grant funds to support their business startup, business growth, and the community
- Not be a previous winner of the I am Black Business Competition
In addition to that, if you’re in the concept phase of your business, that’s fine. We’re accepting businesses in the concept phase, revenue phase, or growth phase.
How Much Money Can I Win?
The cash prizes are as follows:
- 1st place- $1000
- 2nd place- $750
- 3rd place- $500
- 4th place- $250
What Should My Application Include?
Your application should include:
- A completed application form
- Pitch video between 1-3 minutes (can’t be a pre-made promo video)
If your business is in the concept phase, then you’ll have to include:
- A pitch deck with 5-10 slides outlining your business concept
- The business name
- The business idea/concept
- A two-year plan for the business
- How your business will generate revenue and how much over the next two years
- The target market your business will serve
- Amount of funding needed to bring your idea to market
- Statements clearly showing how your business will make a positive impact on the community.
Next Steps and Resources
If you have a Black-owned business that qualifies, we encourage you to apply! Visit our website to find out more and submit your application.
If you need help pitching your business, you can check out:
- How to Pitch For Free Money For Your Small Business
- How to Pitch for Cash- Advice from Pitch Winners
- Interview with 2022 I Am Black Pitch Competition
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