Most Diverse Tech Hub Pitch Competition
TUESDAY, OCTOBER 3RD, 2023 - 9:00 AM - 5:00 PM EST
Application Deadline: Monday, June 26th at 8:00 PM EST
The Challenge
As technology and innovation continue to progress at an unprecedented pace, our commitment lies in cultivating a technology talent pool in Philadelphia that is both equitable and representative of our diverse population.
Through this initiative, which involves a pitch competition, we will aim to construct a robust infrastructure that supports this vision.
Calling All Founders!
With the technology market projected to reach $9.2 billion, entrepreneurs have a tremendous opportunity to develop innovative products and services that can meet the rapidly increasing demand.
Seize the opportunity to participate in this thrilling technological transformation by submitting your application to our pitch competition and presenting your innovative tech solution for the chance to win up to $80,000.
Eligibility Criteria
To qualify, your company must meet the following criteria:
•Business Location within Philadelphia, PA
•Minority Owned 51% or greater.
•Operate as a “TECH” business, uses science in a product or service. E.g., Food Tech, Health Tech, IT, IT Services, if in doubt apply!
•Registered as a Company in the US.
•Unique Product/Service that solves a problem.
•No Alcohol, Tobacco, Gambling or Pornography.
•Own Website & Email.
•No Plagiarism, Copied IP or offshore entities/resources.
•For Profit.
•Ability to travel to Philadelphia, PA October 3rd, 2023. The Enterprise Center, for pitch competition.
•Must attend all virtual workshops, participate in financial statement development & Pitch deck development.
•Use of funds for business development, not private or personal.
•Willing to be a TEC/MBDA client. (Free)
•Must apply through the web portal.
•Each applicant must submit 1 original idea, through 1 application. Duplicate entries will be disqualified.
The Opportunity
The Enterprise Center (TEC) has dedicated the past 30+ years bridging gaps in equity investment and financial education for Philadelphian entrepreneurs. TEC recognizes a lack of access to capital for minority businesses looking to flourish beyond the grow startup stage and into business maturity.
Disparities in access to capital and equity have inhibited the growth of Minority Business Enterprises (MBEs), especially in the tech industry. For the future of tech and racial equality, TEC recognizes that MBEs need additional funding sources.
TEC will host the ‘Most Diverse Tech Hub’ pitch competition in West Philadelphia for underrepresented minority tech startups that are overlooked by mainstream funders.
Finalist Will Receive:
10-Week Accelerator
Successful applicants will undergo (10) weeks of “accelerator” support and training in the areas of financial acumen, business valuation, legal and final pitch.
Cash Prize
Four finalists will receive an opportunity to win either $80k, $60k, $40k, or $20k.
Coaching and Mentoring
Coaching and mentoring will be provided for admitted participants from investors, financial advisors, and entrepreneurial leaders.
Exposure
Promotion and exposure will be provided for admitted participants.
Most Diverse Tech Hub Pitch Competition Is Brought To You By:
The City of Philadelphia Department of Commerce
The Department of Commerce helps businesses—large and small—thrive in Philadelphia. Philadelphia is the perfect home for your business, offering:
- Reasonable office rents and cost of living.
- A ready workforce.
- A central location on the Northeast corridor.
- We work to:
- Attract and keep a diverse set of businesses.
- Revitalize neighborhoods by building vibrant commercial districts.
- Support small businesses and improve access to funding.
- Develop a strong talent pipeline.
The Enterprise Center
Philadelphia, PA
For more than three decades, The Enterprise Center has promoted racial and economic equity by supporting the growth of diverse small businesses and partnering with West Philadelphia communities on revitalization strategies.
As a trusted mediator, we bring together businesses, communities, partners, and resource providers with the shared goal of equal opportunity and prosperity for all.
