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Posts tagged as “african american businesses”

Hip-Hop Artist Lupe Fiasco Creates Nonprofit to Help Inner City Businesses

By goodblacknews on October 19, 2015
Rapper Lupe Fiasco (photo via bet.com)

Lupe Fiasco wants businesses in underserved communities to succeed. The rapper has teamed up with tech business leader Di-Ann Eisnor to create the Neighborhood Start Fund, a nonprofit organization that will provide monetary aid to projects in low-income areas. In addition to funding, entrepreneurs will have access to mentorship opportunities and networking events.

Those struggling to launch their businesses can compete for funding by sharing their startup goals on stage to a panel of judges. The live pitch competitions will take place around the country, with winners receiving $5,000. The first “Idea” competition will take place November 13, 2015, in Brownsville, Brooklyn, in New York City.
And because it’s important to keep investing in your community, proceeds from the funded startups will be used to fund other businesses. So it’s a project that will keep on giving.
To learn more about the program and submit an idea for selection into the Brownsville live pitch, visit start.fund.
article by Dorkys Ramos via bet.com

Chicago’s Black Businesses Get a Bigger Slice of City Contracts

By goodblacknews on October 23, 2012
The Chicago skyline seen from a helicopter.  More black businesses have been given city contracts this year. (AP Photo Pablo Martinez Monsivais)

Chicago businesses owned by African Americans got $193 million, or 21 percent, of the contracts awarded by the city for the first eight months of this year. This is an increase from the mere eight percent ($96 million) they got for the same period last year.

“Although the black contracting surge sounds too good to be true, [Chief Procurement Officer Jamie] Rhee said it’s a product of the mayor’s decision to reform the scandal-scarred minority business program, return certification and compliance to the Department of Procurement Services and ‘really get out there and aggressively talk to people’ about upcoming opportunities,” reports the Chicago Sun-Times.