Growth can be costly.
Starting a business is hard; there’s no doubt about it. For many business owners, resources are limited, and almost every opportunity for growth requires a financial investment. Getting enough momentum to have that competitive edge can feel frustratingly out of reach.
That’s why, at 24/7 BLAC, we hold an annual Pitch Contest for Black entrepreneurs in Iowa.
What you need to know.
We’d love to meet you and hear about the remarkable business you’re running! Simply apply to present a 5-minute pitch about your work and what you need to take it to the next level. All contestants will be given insightful feedback, and the top three contestants will win prize money to accelerate their growth.
Date:
June 21, 2024
12 – 5 PM
Application Deadline:
May 24, 2024
Location/Venue:
Waterloo Convention Center
Who can participate:
Any Black entrepreneur who is a resident of Iowa.
Prizes:
1st place—$20,000, 2nd place—$10,000, and 3rd place—$5,000.
What if I'm just starting my business?
It doesn’t matter. As long as you’re an established Iowa business, you qualify.
What if my business is well established?
We want anybody who is an Iowa business owner and is interested in pitching their business.
What specifics will my pitch be judged on?
You’ll be judged on:
Business Viability
Social Impact & Mission
Growth Potential
Financials and Sustainability
Presentation and Pitch Quality
Innovation and Differentiation
Current execution and business milestones
Who are the judges?
The judges are business owners, corporate directors who work with business owners, and financial personnel who work with business owners.
What can I expect?
Applicants must submit an online application form, including a 3-minute video pitch, showcasing their business or business concept.
The video pitch should be submitted by the specified deadline, and late entries will not be accepted.
A panel of preliminary judges will review all submitted video pitches based on the predetermined criteria.
Applicants will be evaluated on their business idea, market potential, innovation, and clarity of presentation.
The judges will select a set number of finalists who will proceed to the live pitch round.
Finalists will be notified of their selection and invited to participate in the live pitch round.
Each finalist will have a maximum of 8 minutes to present their pitch to a panel of judges.
A Q&A session of up to 5 minutes will follow each pitch, during which judges may ask questions to clarify the presentation.
Finalists must adhere to the allotted time for their pitches, as exceeded time will result in point deductions.
Will we be listening to each other's pitches?
Yes, you'll be listening to each other's pitches.
Join us!
Give your hard work a moment in the spotlight and gain a chance to be rewarded.
Complete the form.
Click the “Pitch Your Business” button below and fill in your information to register. We'll contact you with details about your next steps.
Prepare your pitch.
Create a brief presentation that describes the "what" and "why" of your business and how winning would make a difference.
Be in the running for a great prize!
Show up ready to share the exciting thing you've been building. It just might be your time to take a prize home and take your business to the next level.
We can’t wait to cheer you on!
I recently completed Cohort VI, of the 24/7 BLAC Business Entrepreneur Accelerator Program, a remarkable program tailored for and aimed to help establish local small businesses. The experience was nothing short of eye opening and transformative, all the while fostering an environment that prioritized professional growth and celebrated diversity and community empowerment.
BBEA's mentorship played a pivotal role in my journey, as experienced mentors from diverse backgrounds provided invaluable insights and guidance. Their commitment to our success went beyond generic advice, it attempted to tailor recommendations specific to the needs of our individual businesses.
Overall, the program's commitment to addressing the systemic barriers faced by black entrepreneurs all over the country, was evident throughout the duration of the program. The mentors facilitated access to resources and displayed a passion for advocating for inclusivity and diversity in the local business landscape. BBEA is not just an ordinary program; it's a movement towards a more equitable entrepreneurial future.
In conclusion, 24/7 BLAC is a beacon of excellence in the business accelerator landscape. I am grateful for the opportunity to have been part of such an empowering program.
— William Burt
Entrepreneur
I was fortunate enough to be part of the initial cohort of the Business Accelerator Program. It was life changing. Sixteen weeks of pure, unadulterated knowledge taught to us by professionals, entrepreneurs and individuals who excelled as experts of their craft and held nothing back.
We took deep dives into marketing, customer archetypes, target audiences, bookkeeping, profit margins, and ways to secure the funds necessary to operate a successful business.
We learned how to pitch our businesses to investors which resulted in me taking first place in the BBEA Pitch Competition.
The BBEA is long overdue. It is playing a vital role in the longevity of minority owned businesses that would not otherwise have access to the resources necessary to succeed in a community like the Cedar Valley.
Dominque Wallican
Owner | Dominique's Seafood
