The Black Currency, Neotribe Launch Pitch Virtual Competition For Minority-Owned Businesses
Business

The Black Currency, Neotribe Launch Pitch Virtual Competition For Minority-Owned Businesses

(Image: iStock/Rowan Jordan)

Calling the next wave of founders!

The Black Currency, a financial empowerment platform, is partnering with Neotribe, a venture capital firm, for a pitch competition for small minority-owned businesses.

According to Instagram, the dynamic duo are inviting ambitious founders looking to raise capital for their small business. Contestants will have the opportunity to present a “bold” idea to a panel for a chance to scale their business and win $6,000 in cash prizes.

The Black Currency, founded in 2020, was created by Brooklyn natives Kwame Egerton II and Ackeem Kipp. The collective aims to empower the next generation of minority millionaires through financial education and emotional intelligence.

According to Egerton, his joint efforts with Neotribe shed light on the disproportionate amount of funding for Black businesses.

“As a small business owner myself, I understand how difficult it can be to find funding to help your business grow,” Egerton told Afro Tech.

“Only 1.2% of venture capital dollars went to African American founders so far this year. We wanted to put together an initiative that helped to change this narrative.”

Founded in 2017 by Swaroop ‘Kittu’ Kolluri, Neotribe echoes the same passion of empowering founders with The Black Currency.

“Just as tribes represent small, protective and caring groups, we believe that startups with innovative and aspirational teams thrive if provided the security and backing to be unafraid in the pursuit of new ideas, excellence and success,” according to the firm’s website.

“Our passion lies in helping founders to usher in the next wave of transformative technology,” the website continues.

To enter the competition, applicants must pitch their business idea by direct messaging @TheBlackCurrency or emailing Contact@TheBlackCurrency.io. This information is also included on the Instagram announcement.

The contest is scheduled to take place on July 27 via Zoom at 7 p.m. ET and 4 p.m. PT.


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