The New Voices Fund has been working to level the playing field for women entrepreneurs of color. Through several partnerships, the fund has provided women with access to capital and other resources needed to succeed in the realm of entrepreneurship. One of the latest organizations to team up with the fund to create more opportunities for women of color business owners is MVMT50, Black Enterprise reported.
MVMT50 —a collective of Black leaders who are focused on increasing cultural representation in the innovation and technology spaces—has joined forces with SheaMoisture and the New Voices Foundation to host a pitch competition for Black women, the news outlet writes. The competition—dubbed PITCH BLACK—was created as an avenue to address the obstacles that Black women face when trying to become entrepreneurs, including the lack of access to capital. The competition winners will receive up to $100,000.
“We created the New Voices Foundation to provide wrap-around services and ensure that we could meet our entrepreneurs where they are on their individual journeys, whether they need capital or other critical resources such as access or expertise,” Richelieu Dennis, Founder, New Voices Fund, said in a statement. “As we continue to invest in black women, I’m thrilled that we are able to do so via this impactful experience with MVMT50 and Pitch Black. Only through collective efforts will we truly begin to level the field.”
The pitch competition is slated to take place at the University of Texas at Austin on March 9.
There has been a push to support Black women founders. Last year Arlan Hamilton, founder of the venture capitalist firm Backstage Capital, announced that the company would invest $36 million in the entrepreneurial endeavors of African American women.