The MOGUL Initiative, a Los Angeles based social impact fund and non-profit organization aimed at expanding minority entrepreneurship and education in the United States, is kicking off its official launch with an exciting new entrepreneur-focused competition. The competition, called InvestBLACK, will call on minority entrepreneurs and new business owners to submit their business ideas. The winner of the competition will receive up to $50,000 to launch their new venture, and will also receive six months worth of free marketing, a new business website, and business consulting.
The InvestBLACK competition, as well as the MOGUL Initiative itself, was founded to combat a number of systemic issues facing minority communities today. By providing access to capital—a path to entrepreneurship often denied minority business owners—The MOGUL Initiative Founder Nathan G. Meaux hopes to make a positive impact in these communities. Meaux personally donated $100,000 into The MOGUL Initiative, an investment he believes will go a long way toward reversing the trends of systemic and structural inequality toward minority business leaders in America.
While only one applicant will win the InvestBLACK funding competition, other Black entrepreneurs will have an opportunity to receive funding through The MOGUL Initiative’s “MOGUL Fund,” which is an ongoing initiative aimed to fund minority businesses. To learn more about the InvestBLACK Pitch Competition and sign up click here.
Deadline to enter is March 15, 2021.