Blacktech Week Launches Startup Challenge For Black Entrepreneurs
blacknews.com | 2/23/2017, midnight
BlackTech Week & Arch Grants team up to help black entrepreneurs gain access to funding.
Miami, FL — Because securing capital continues to be a major barrier to entry for startups that are founded by minority entrepreneurs, Blacktech Week & Arch Grants have decided to partner together to help close the access gap. One lucky innovative & scalable startup will win a $50,000 equity-free cash grant that will also provide pro bono supported services (i.e. personal introductions to strategic business and civic leaders & access to angel investment and venture capital networks) to the company that is located in or will re-locate their headquarters to St. Louis, Missouri.
BlackTech Weekend (February 23-25, 2017, in Miami, Florida) is a weekend that highlights cutting-edge technologies and entrepreneurial innovation in the black community. This year’s theme is “Access to Funding where the organization launched a Weekend version of their key program to get entrepreneurs close access and support from investors looking to invest in Minority led companies.” 2017 BlackTech Weekend Speakers include (more will be added): Michael Seibel (Y Combinator-CEO); Marlon C. Nichols (Cross Culture Ventures); Lauren Maillian (LMB Group star of We TV Show Quite your Day Job); Armando Seay (Ross Technologies); Monique Woodward (500 Startups); Richard Kerby (Venrock); Nnena Ukuku (Venture Gained Legal); and Peter Walker (JamKazam).
“There is such amazing genius in the black community so the issue as to why there is not higher representation in the innovation economy is not due to a lack of ideas. It is due to a lack of real capital to take these ideas to market and then the right mentorship and support to keep them there. That is why this partnership is so important,” Felecia Hatcher-Pearson, Co-Founder, Blacktech Week/Code Fever Miami, states.
The eligibility requirements for this award include the following: (1) Must be 18 years or older to apply; and (2) Must be able to have at least 51% of your founding team, OR at least one founder and 51% of the full team, working full time on the business in St. Louis City for a period of at least one year. Blacktech Week & Arch Grants are looking for innovative, high growth, early stage ventures with national or international impact potential. They are not looking for lifestyle businesses or consulting businesses. Companies also don’t have to be technology companies.
Winning companies must be in St. Louis or be willing to move their headquarters to St. Louis. The application deadline is January 30, 2017 at 10:00 p.m. EST. If selected, your business will be invited to present a final pitch at the 2017 Black Tech Weekend in Miami, FL on February 24, 2017! If selected, your business will receive $50,000 from Arch Grants out of St. Louis, Missouri, and receive expert mentoring and technical assistance to grow your business or startup.
About The Arch Grants Startup Competition (www.ArchGrants.org)
The Arch Grants Startup Competition is an international competition that awards $50,000 equity-free, cash grants and pro bono support services to the most innovative and scalable startups that are willing to locate their business in St. Louis, Missouri. Arch Grants seeks to fund innovative technologies, products, and services wrapped within scalable business models with the potential for national or international impact.