Grant Amount: $20,000
This prize competition will invest capital and resources in startups founded by Black and Latinx entrepreneurs pursuing ventures in technology, media and entertainment, healthcare, Web 3.0 and consumer products and services to close the opportunity and wealth gap in America and to position Black and Latinx founder to excel, uninterrupted.
Black Ambition is delighted to partner with Mosaic Genius to host a business pitch competition for Black and Latinx founders living and working in the Martha’s Vineyard community.
The application deadline is August 1, 2022 at 5pm PST.
Up to 5 finalists will be selected to participate in a pitch competition in mid-August. A panel of expert judges will award a total of $20k to three prize winners.
HOW TO QUALIFY
- Business at least 51% owned, operated, and controlled by person(s) who identify as Black/African/African-American and/or Hispanic/Latino/a/Latinx
- Business operating/residing in Martha’s Vineyard and/or Boston, MA
- Business operating for less than five (5) years
- No direct or indirect operating relationship with an existing large scale corporation, investment fund, or government agency
- Owners/immediate family members not employed or contracted by Black Ambition or Mosaic Genius
- Annual business revenues less than $1,000,000
- Have not yet raised more than $1,000,000 in dilutive capital
- Business in the field of consumer products and services, web 3, media and entertainment, healthcare, and/or technology:
- Consumer Products and Services: for profit businesses that offer goods or services sold to consumers for their own use or enjoyment and not as means for further economic production activity.
- Media & Entertainment: for profit businesses focused on meeting consumer needs in creative industries inclusive of cinema, television, radio, theater, publishing, gaming, advertising and music.
- Healthcare: for profit businesses that provide medical services, manufacture medical equipment, provide medical insurance, or otherwise facilitate the provision of healthcare to patients.
- Technology: for profit businesses related to the manufacturing of electronics, or the development of software, computers or products and services relating to information technology.
- Web 3: for-profit businesses offering web-based products or services that leverage artificial intelligence, speech recognition, the metaverse, cryptocurrency, NFTs, and/or augmented or virtual reality technologies to empower internet users to search for, organize, and process data.
All determinations of participant eligibility shall be made in the sole discretion of Black Ambition.