Deadline extended for $25K HBCU New Venture Challenge

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JACKSON, Miss. (WJTV) – BearWay Capital has extended the deadline for the first round of the HBCU New Venture Challenge, a business plan competition for students enrolled in the top 21 historically black
colleges or universities (HBCUs) in the country.

The five founders and Angel Investors of BearWay Capital, Akin Akinhanmi, Joe Akoun, Emeka Igwilo, Emeka “Obi” Obiaka, and Sanmi Kalesanwo, all alumni of Morgan State University, were inspired to create the challenge after witnessing inequities in funding for underrepresented entrepreneurs.

The competition consists of four rounds, students can participate alone or as a part of a team. In
the first round, students will need to submit a 200-word summary and a 90-second video to pitch
their business idea. Students can win up to $25,000 in seed funding.

The deadline to submit a business idea is Thursday, September 15 at 5:00 p.m. The participating schools are as follows:

  • Alcorn State University
  • Claflin University
  • Clark Atlanta University
  • Delaware State University
  • Fisk University
  • Florida A&M University
  • Hampton University
  • Howard University
  • Jackson State University
  • Lincoln University
  • Morehouse College
  • Morgan State University
  • Norfolk State University
  • North Carolina A&T State University
  • North Carolina Central University
  • Spelman College
  • Tougaloo College
  • Tuskegee University
  • University of Maryland, Eastern Shore
  • Winston-Salem State University
  • Xavier University of Louisiana

BearWay Capital will announce the winner on November 20. For more information about the
challenge, click here.

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