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 & investment capital.
One of the winning entrepreneurs was Su Sunni, co-founder & CEO of WeDidIt - a Black-owned business based in Brooklyn, NYC that helps nonprofits raise more money and reach new donors with their intelligence & fundraising platforms. His company won a $500,000 award.
Another of the winning entrepreneurs was Angel Rich, founder & CEO of The Wealth Factory - 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, & 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, & six more $500,000 investment capital awards. Their annual competition is open to applicants ages 18 & 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, & 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, & access to other incentive programs.
For more details about the competition, visit 43North.org