For Black entrepreneurs, obtaining funding and investments doesn’t come easy.
In fact, 96% of black business owners are sole proprietors
, making it that much harder to raise capital. With lack of funding comes the limited opportunity to hire employees that will help a business scale, which only continues to widen the racial wealth gap for Black entrepreneurs.Addressing this issue, REVOLT and Target have joined forces once again for the return of Bet on Black, the impact-driven series where rising Black entrepreneurs pitch their culture-forward business ideas in the hopes of securing investment funds. Hosted by Dustin Ross, season two of Bet on Black
showcases 12 Black entrepreneurs who present their business ideas to a panel of trailblazing judges, including Remy Ma, Master P, Pinky Cole, Letoya Luckett, Detavio Samuels, CEO of REVOLT, and Ron Brown, Vice President of Community Impact at Target, for a chance to take home a grand prize of $200,000 in funding.Bet on Black’s goal is to not only provide funding, but to also spotlight Black businesses across industries that support Black culture at large. With business projects ranging from technology, lifestyle, entertainment, and more, Bet on Black focuses on investing in projects that bring positive impact to Black communities and champion social justice. Carrying out REVOLT and Target’s ongoing dedication to supporting Black changemakers, Bet on Black provides entrepreneurs the opportunity to receive full capital without its investors seeking any stake or equity.
“Bet on Black represents a movement to help close the wealth gap by empowering more creators to become owners and providing them with the resources and guidance needed to build a more equitable future,” said Detavio Samuels, CEO of REVOLT. “We are proud of the tremendous success we saw with Season one and look forward to working with Target to continue investing in the visions of so many incredible entrepreneurs leading companies that will power the new economy.”
“Target holds valued partnerships with diverse media. As we continue to bring joy to our guests, our partnership with REVOLT is another example of our commitment to advancing racial equity,” Ron Brown, Vice President of Community Impact at Target.
“We’re proud to continue supporting the economic empowerment of Black entrepreneurs through the Bet on Black series and working together to build equity for Black-owned businesses, ultimately fueling Black success.”
All episodes of Bet on Black are available on REVOLT’s linear channel and Peacock.