Two Black entrepreneurs recently won over $500,000 in combined funding as part of the annual 43North Business Pitch Competition. Every year, an organization called 43North hosts a business pitch competition in which over 500 companies around the nation can pitch their business ideas in an effort to win up to $5 million in funding and investment capital.
One of the winning entrepreneurs was Su Sunni, co-founder and CEO of WeDidIt (www.wedid.it) – a Black-owned business based in Brooklyn, NYC that helps non-profits raise more money and reach new donors with their intelligence and fundraising platforms. His company won a $500,000 award.
Another of the winning entrepreneurs was Angel Rich, founder and CEO of the Wealth Factory (www.getwealthylife.com) – a Black-owned business based in Washington, DC that teaches financial literacy to urban low income children through the development of online gaming, adaptive testing, and other means. Her company won a $10,000 award.
About the competition
Based in Buffalo, New York, 43North gives away cash prizes that include a $1 million grand prize, a $600,000 first runner-up prize, and six more $500,000 investment capital awards. Their annual competition is open to applicants ages 18 and older, and they can be from anywhere in the world, representing any industry (bricks-and-mortar retail and hospitality are not eligible). However, each business applying must have the potential for growth.
The competition consists of 3 rounds of judging, including an online written application, a live video pitch, and an in-person finals in Buffalo.
Winners must agree to relocate to Buffalo for a minimum of 12 months. In addition to cash prizes, winners also receive free incubator space in Buffalo, mentorship from experts within their industries, and access to other incentive programs.
For more details about the competition, visit www.43north.org/competition/