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WMY47

Powering a New Generation of       Black Innovators

New Venture Competition

Powering a New Generation of

    Black Innovators

New Venture Competition

The New Venture Competition (NVC) is a pitch competition for early-stage ventures, designed to showcase a new generation of Black innovators.

The competition provides a platform for exceptional Black entrepreneurs to access expert mentorship, valuable exposure, and a strong peer network.

Selected NVC finalists will pitch their new venture in front of a panel of esteemed judges on Friday, February 19, 2021 and compete for a chance to win up to $175,000 in non-equity financing and other in-kind prizes to springboard their businesses.

The top three new ventures will be chosen to deliver their final pitch presentation at the WMY Conference on Saturday, February 20, 2021, and the following prizes will be awarded at the close of the Conference:

  • First Place | $75,000
  • Second Place | $50,000
  • Third Place | $25,000
  • Crowd Favorite | $25,000
  • In-kind prizes sponsored by Google, including:
    • Quarterly bootcamps over the duration of one year on topics including (1) Product Design, (2) User Experience, (3) Data & Tech Infrastructure, (4) Growth, Sales, & Analytics
    • Dedicated start-up technical office hours from Google technical mentors on data & tech infrastructure considerations
    • In-depth 1:1 business review sessions from Google for Startups Team to offer holistic feedback on product design, user experience, and pitch decks

For any questions or concerns, please contact the NVC team at nvc@wmyconference.com.

When

February 19-20, 2021

Virtual

Where

Open Application Period

Sept. 15 - Oct. 30, 2020

Application Screening Process

Oct. - Nov. 2020

Top 20 Semi-finalists Announced

Late Nov. 2020

Workshop Modules for Top 20 Semi-finalists

Late Nov. - Dec. 2020

Delivery of Short Pitches by Top 20 Semi-finalists

Early January 2021

Top 10 Finalists Announced & One-on-one Office Hours with NVC Mentors

Mid Jan. - Mid Feb. 2021

Who is eligible for this competition?

Dreamers

Creators

Innovators

The competition seeks to elevate Black founders who are creating innovative products, solutions, or services that strategically tackle addressable market challenges.

To be eligible to participate in the NVC, founders must meet the following criteria:

  • Black founder, co-founder, or other member of C-suite
  • Pre-seed or Seed
  • Company founded within four years of competition date
  • Open to all geographies, business sizes, and industries

Visionaries

Trendsetters

Judging Criteria

Business Model Validation

Has the startup shown any traction or produced revenue? If not, is there evidence to validate that the current business model can produce attractive returns and is also scalable?

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What other solutions exist today that also solve for the identified problem? Does the startup have any competitive advantages or moats?

Market Landscape

Founding Team Experience

Does the current team have the required skills for execution?

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Is there a demonstrated need or gap in the market that the startup’s solutions solve for? Is the total addressable market substantial enough to make this a lucrative investment opportunity?  

Product-Market Fit

The strength of an application submission will be assessed against the following four category areas:

Selected NVC finalists will have the opportunity to pitch their new venture in front of a panel of esteemed judges and compete for a chance to win up to $175,000 in non-equity financing and other in-kind prizes to springboard their businesses

Industry Practitioners

Our Judges

Mercedes BentPartner, Lightspeed Venture Partners
Arlan HamiltonFounder & Managing Partner, Backstage Capital
Erik Moore WG '98Founder & Managing Director, Base Ventures
Elliott RobinsonPartner, Bessemer Venture Partners
Jason ScottHead of US Startup Developer Ecosystem, Google
Alice VilmaManaging Director, Multicultural Client Strategy, Morgan Stanley

Our Sponsors

Made possible thanks to

Memorial

Seed

With special thanks to

Angel

Growth

Innovation | Presenting

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