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Previously we reported that MVMT50 was giving away $10,000 in their annual pitch competition. Well, things have taken a slight turn. The organization has now partnered with SheaMoisture and the New Voices Foundation and is giving away $100,000 in prize money to black women entrepreneurs. The competition will take place on Saturday, March 9, at the University of Texas at Austin’s McCombs School of Business in Austin, Texas.
According to their recent press release, in 2018, MVMT50 chose to address the primary issues facing black women entrepreneurs by focusing solely on that group for the PITCH BLACK competition, with the theme “The Future is Female.” The event was met with an overwhelming amount of interest and support, and as a result, MVMT50 has chosen to continue with this theme for 2019.
SheaMoisture will also conduct on-site activations for participants and attendees of the competition. Additionally, New Voices, which held pitch competitions across the country in 2018, will soon announce upcoming events for 2019. This is the largest award pool to date for PITCH BLACK. The New Voices Foundation empowers women of color entrepreneurs to achieve business success through leadership and skills development, access to capital, and networking opportunities, as well as other innovative leadership initiatives.
“When we launched the $100 million New Voices Fund in 2018, we did so with a clear purpose: to address the abysmal funding challenges faced by black women and other women of color entrepreneurs and to give the SheaMoisture community its credit for making this possible,” said Richelieu Dennis, founder, CEO and executive chairman of Sundial Brands and founder of New Voices Fund and New Voices Foundation.
“But we also knew we needed to do more. So, we created the New Voices Foundation to provide wrap-around services and ensure that we could meet our entrepreneurs where they are on their individual journeys, whether they need capital or other critical resources such as access or expertise. As we continue to invest in black women, I’m thrilled that we are able to do so via this impactful experience with MVMT50 and Pitch Black. Only through collective efforts will we truly begin to level the field.”
“African American women represent the fastest growing group of entrepreneurs; however, they receive the least funding. MVMT50’s focus on black women in the Pitch Black competition allows us the opportunity to support a locally-based organization committed to the purpose of the New Voices Foundation—to ignite long-term social change and create a society and economy that supports and values entrepreneurial women of color for the positive contributions they make,” said Melissa Bradley, managing partner at 1863 Ventures and New Voices Foundation adviser.
Ten finalists will be selected to compete in the official Pitch Black competition to win up to $100,000 in cash and have the opportunity to pitch their business to a panel of judges and a live audience. Black women founders and co-founders are invited to apply by visiting: www.pitchblack512.com. The submission deadline is Friday, Feb. 15, 2019, at 11:59 p.m. CST.
Pitch Black Event Details:
Date: Saturday, March 9, 2019
Time: 4:00pm – 9:00pm
Location: University of Texas at Austin
McCombs School of Business
Rowling Hall
300 W Martin Luther King Jr Blvd
Austin, TX 78712
Sequoia Blodgett
Sequoia Blodgett is a Reporter for Black Enterprise. She is also the founder of Commas, a virtual entrepreneurship resource center that provides everything you need to know about product development, marketing, publicity, and fundraising, to make your entrepreneurial journey a lot less stressful.
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