The 60-Second Business-Pitch Competition Awards $10,000 in Startup Capital to Aspiring Young Entrepreneurs
Washington, D.C. — The 100 Urban Entrepreneurs “Handle Your Business Tour” will arrive at Howard University in Washington, D.C., on Thursday, April 21, 2011, to give students and young entrepreneurs in the Washington metropolitan area an opportunity to compete for $10,000 in startup capital and eight weeks of mentoring. The Handle Your Business Tour and competition is presented in partnership with Howard University’s Institute for Entrepreneurship, Leadership & Innovation.
Entrepreneurs from numerous disciplines will have an opportunity to pitch their business ideas to a panel of judges that includes 100 Urban Entrepreneurs cofounder and CEO Magnus Greaves; Grammy-winning producer Bryan-Michael Cox; and Brian Banks, a vice president of corporate real estate at ADP. Winners will receive $10,000 in startup capital and gain admission to 100UE’s mentoring program, an intensive eight-week regimen that offers recipients a unique opportunity to interact with business leaders and other talented entrepreneurs. Members also gain access to professional networks that provide valuable resources to help them build successful, sustainable businesses.
“Howard University is known around the world for producing successful leaders within all facets of business, politics and community,” Greaves said. “We’re extremely excited and honored to work with the university through the Institute for Entrepreneurship, Leadership & Innovation.”
In 2010, according to the Kauffman Foundation’s Index of Entrepreneurial Activity, people between ages 20 and 34 were responsible for 26 percent of new entrepreneurial activity in the United States, but the rate of African-American entrepreneurial activity decreased to 0.24 percent from 0.27 percent the year before. 100UE’s mission is to help provide a meaningful, long-term economic boost to urban communities by supporting minority entrepreneurship at its earliest stages — a mission that continues to be supported by Howardites past and present. Music mogul Sean “Diddy” Combs, a Howard alumnus, recently donated $100,000 to 100UE. Combs’s donation will supplement the Sean “Diddy” Combs Entrepreneurial Fund established by 100 Urban Entrepreneurs and the Carriere Foundation.
100 Urban Entrepreneurs encourages anyone in the Washington metropolitan area with a great business idea to sign up and attend the pitch competition at Howard University’s Blackburn Center on Thursday, April 21, 2011, from 6 to 8 p.m. Participants must register online at www.100UrbanEntrepreneurs.org to submit their business idea for consideration by the 100UE funding committee.
About 100 Urban Entrepreneurs
100 URBAN ENTREPRENEURS (http://www.100urbanentrepreneurs.org/) is a nonprofit foundation dedicated to helping provide a long-term economic boost to urban communities throughout the United States by supporting entrepreneurship at its earliest stages. In partnership with TheCASHFLOW, 100 Urban Entrepreneurs seeks to identify, fund and mentor 100 of the most promising young businesspeople who might otherwise lack access to startup capital and a professional network. Our goal is to provide the tools to help talented young dreamers create viable, profitable companies.
See our related post featuring the 100 Urban Entrepreneurs founders HERE.