Entrepreneur Daymond John of ABC’s “Shark Tank” held a fireside chat Thursday, Feb. 4 during the kick-off presentation of the American Entrepreneurship Award (AEA). The new annual award program, which provides start-up funding of up to $25,000 for entrepreneurs, is sponsored by the
Libra Group and the Idea Center at Miami Dade College.
An entrepreneur in every sense of the word, John has come a long way from a $40 budget to growing FUBU into a six-billion-dollar brand. The founder of FUBU, he is a celebrated pioneer in the fashion industry, best-selling author, branding guru, and a motivational speaker.
The annual award was established by the Libra Group to provide start-up funding as well as mentorship and a range of mentorship and support services that will help ideas and winning businesses get off to a strong start. Libra was inspired to create the award when it became a founding sponsor of the My Brother’s Keeper Alliance (MBK Alliance), a nonprofit organization launched by President Barack Obama aimed at eliminating opportunity and achievement gaps for boys and young men of color. The AEA was launched in 2015 with an initial $500,000 commitment.
“Far too often, entrepreneurs are unable to successfully launch businesses primarily due to lack of capital. The Libra Group’s American Entrepreneurship Award represents a breakthrough for small business incubation, presenting opportunities and pathways to success for entrepreneurs,” said Joe Echevarria, CEO of the MBK Alliance. “The MBK Alliance is proud to work with Libra Group and is committed to giving emerging entrepreneurs the resources they need to succeed.”
Event participants included Alonzo Mourning, MBK Alliance board member and former NBA player, as well as John, who is a MBK Alliance Ambassador, AEA judge, CEO & Founder of FUBU, and a Presidential Ambassador for Global Entrepreneurship. Audience members also heard from previous winners of the Hellenic Entrepreneurship Award.
In addition to the MBK Alliance and the IDEA Center at Miami Dade College, other partners who have pledged to provide mentorship and support services in the Miami area include the Miami Herald, Shark Branding and Total Bank.
The AEA will initially focus on two communities facing a disproportionate lack of opportunity compared with the rest of the USA: the Bronx, New York and Miami-Dade County.
The AEA is open to entrepreneurs in the two nominated regions whose business plans exhibit sustainability, financial prudence and innovation, while accruing revenue and creating jobs predominantly in Miami-Dade or the Bronx. Entries are encouraged from individuals or groups with no previous business experience, or from existing unlisted companies which can show that they have an all-new business concept which is not related to their core activities and cannot be funded through existing resources.
Winning businesses will receive an interest-free loan of up to $25,000. Business support offered to winners includes legal, accounting, communications and IT consultancy services. Each winner will be assigned a mentor who will provide advice and guidance throughout every stage of the business start-up.
Award entries can be submitted online at americanaward.com through April 29 and winners will be announced in June 2016.
Visit our business directory to view black owned businesses in Miami and black owned businesses in New York.
Source:
http://miamitimesonline.com/news/2016/feb/10/daymond-john-launches-start-funding-program/
