The Black Pitch Contest is designed to help Black entrepreneurs who have been excluded from traditional investment avenues like loans, grants and business financing.
Two British Columbian entrepreneurs have been selected as finalists in a Canadian contest aimed at helping members of the Black community access funding for their business plans.
Deress Asghedom, of Vancouver, and Mwenda Dyck, of the Fraser Valley, are in the Top 5 competing for the prize of $25,000 in the Black Pitch Contest.
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Jackee Kasandy, CEO and co-founder of the Black Entrepreneurs and Businesses of Canada Society, said she started the contest to help Black businesspeople who still face barriers, such as poverty, not having a house or other collateral, or a poor credit score.
The Black Pitch Contest is designed to help Black entrepreneurs who have been excluded from traditional investment avenues like loans, grants and business financing, said Kasandy, who also owns a shop on Granville Island called Kasandy.
Asghedom is originally from Ethiopia. His app, Vaster, educates cannabis users to make informed decisions about the different products.
He says this is a Black-owned business in a space that was previously criminalizing Black and minority participation. He told the contest the money would pay for the development of the web app, which he plans to expand internationally.
Dyck is a 22-year-old Kenyan-Canadian who is launching a company called South Central Greens, a vertical farming business, which uses horticultural practices to grow food in a space where conventional farming is not possible, according to the contest.
He’s developed a vertical farming system that works, according to the Black Pitch Contest, and says the money would go into renovating infrastructure and purchasing necessary start-up equipment to implement the vertical farm.
Pitch Contest finalists will be showcased at the virtual Black Business Summit Feb. 24 and Feb. 25. The summit is free for anyone to attend.
Full details and the information about the other Canadian finalists can be found on the Black Entrepreneurs and Businesses of Canada Society’s website: https://www.blackentrepreneursbc.org/black-pitch-contest/
ticrawford@postmedia.com