Starting a small business is a venture undertaken by a large number of Americans today, especially African-Americans, Hispanic/Latinos, and women. Sparked by a sudden career change (such as a lay-off or retirement), innovation, or simply the need or desire to generate additional income, entrepreneurship is often the path of choice by many who long to “be the boss” and “do it their way”. For those who decidedly explore the world of entrepreneurship, their trek typically encounters some serious challenges, such as “how to start their business” and “how and where to obtain funding (capital)”.
While traditional financiers have tightened their credit standards and increased deposit and collateral requirements, one Virginia-based non-profit has been quietly developing and shaping an alternative model for financing and accelerating seed and early stage Minority Business Enterprises (MBEs), while providing quality resources for existing (later) stage companies. Each year, Virginia Housing and Community Development Corporation (VHCDC) convenes its MBE Capital Call Conference and Venture Forum and invites African-American, Hispanic/Latino, and other minorities to compete for a slot to pitch their product or service idea to an audience of Angel Investors and other financiers. The winners get a slot (15 minutes) to pitch their business opportunity and field questions from Angel Investors, Venture Capitalists (VCs), lenders, and specialty financiers. What occurs next is a new formula for launching new businesses and accelerating their growth. Through this forum VHCDC is introducing a new wave of entrepreneurs who are radically transforming the way businesses are started and financed.
Now in its third year, the MBE Capital Call has become the premier venue for presenting and cultivating investment opportunities with minority-led initiatives seeking capital, mentoring, and strategic partnerships. This year, the forum extends a special invitation to African-Americans and Latinos desiring to discover the art of angel investing. VHCDC hopes to motivate wealthy, successful African Americans and Latinos nationwide to get involved to increase the pool of private equity, industry knowledge, and resources to assist early stage minority-led, high growth ventures.
The MBE Capital Call is a forum for minority business owners and aspiring entrepreneurs to network and connect with financial industry experts, lenders, government resources, and private investors and venture capital firms seeking business development and investment opportunities with the largest emerging domestic market in the U.S., Minority Business Enterprises.
The 2008 MBE Capital Call invites entrepreneurs with innovative, marketable solutions within the Business Products and Services, Consumer Products and Services, E-Commerce, Energy, Entertainment/Media, Internet, Telecommunications, and Technology industries to register early at www.mbecapitalcall.com to compete for a spot to pitch their product, service, or idea.
The 2008 MBE Capital Call Conference & Venture Forum will be held Friday, September 26th, 2008 at the Homewood Suites by Hilton® in Richmond (Airport), Virginia. For additional information visit www.mbecapitalcall.com