JACKSONVILLE, Fla. – Black and brown startup founders will have the chance to pitch their big ideas in a live “Shark Tank”-style event being held in Jacksonville later this month.
Venture capitalist group PS27 Ventures is putting on the first-ever event near downtown where five local startups will vie for the chance to win a $1 million investment in their company.
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PS27 CEO Jim Stallings said the event is focused on minority founders in part because they have been historically left out of the venture capital world.
“The amount of capital actually going to black and brown founders is very small. It’s like 2% or less,” Stallings said. “And so this is another chance to give people a front-row opportunity to get a shot at. In the last quarter, VC investment in the United States was $158 billion. This is a shot at it. You know, people have asked me, how do we get more exposure? This is it. We asked for it in Jacksonville. Here it is.”
A similar event is being held in Tampa and the finalist from there and Jacksonville will move on to the semifinals in Miami. The winner from Miami will go to Atlanta to compete for that million-dollar prize.
Black Founders Demo Day will be held July 26 at the WJCT Soundstage on the north bank.
If you are interested in pitching your big idea, you can apply by July 17 by visiting PS27 Ventures’ website.