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NEW ORLEANS – Since Wednesday, when they boarded a bus in the Harlem neighborhood of New York City, a group of 30 rising entrepreneurs from around the country have made stops in Akron, Ohio; Detroit, Michigan; Atlanta, Georgia; and Montgomery, Alabama. Their journey culminates in New Orleans this weekend with a two-day business conference and pitch competition, featuring interactive presentations from the nation’s top investors and tech talents.
Sponsored by JPMorgan Chase Advancing Black Pathways and Chase for Business, the Advancing Black Entrepreneurs StartupBus is both a five-day, traveling technology bootcamp for entrepreneurs, and a competition. Participants engage in a curriculum designed to train and inspire the next wave of black business leaders, and receive guidance on developing their products and investor pitches from financial experts.
Now in its 10th year, with JPMorgan Chase joining for the first time, the StartupBus has accelerated hundreds of emerging entrepreneurs across the globe into a community of founders who have gone on to launch companies that have attracted over $1 billion in venture funding and numerous acquisitions.
New Orleanian Antonius Prader, the founder of EXTERNZ – a job recruiting site for college students, has been part of the illuminating cross-country adventure.
“I wanted to participate in the StartupBus to explore entrepreneurial opportunities, and create a business that empowers the black community to pursue their life’s purpose and give them a space to thrive,” said Prader. “With the initiative this year to create a bus for Advancing Black Pathways, sponsored by Chase for black tech talent, I felt it was even more imperative (that) I get in on the startup action and pursue my dream of building a startup.”
Prader went through a selective application and interview process before earning his “golden ticket” to the StartupBus, which he viewed as a “life-changing opportunity.”
“A lot of times we are told we shouldn’t do that, or we don’t have what we need to be successful,” Prader continued. “No matter what cards are dealt, I want to inspire people that look like me to just go for it, build as you go, and get creative with what you have to make a unique solution.”
While traveling and visiting innovation hubs throughout the country, StartupBus participants formed teams, and then developed and launched fully functional products that will address and improve the financial health of black Americans.
Prader said one highlight of the trip was visiting the Motown Museum in Detroit and learning how Barry Gordon Jr., the founder and owner of Motown Records, used $800 to build his multi-million-dollar music empire. Prader has also enjoyed practicing his pitches and collaborating with fellow entrepreneurs.
“We are all on the same team and supporting each other has been very powerful,” he said, noting that he’s been documenting his experience on Twitter @EXTERNZUSA.
While in New Orleans, the Advancing Black Entrepreneurs StartupBus will meet with teams from seven other buses from across the U.S. to compete in the StartupBus Entrepreneurial Summit. They will pitch their startups to a diverse lineup of prominent investors and directors from Kapor Capital, Change Catalyst, Backstage Capital, and Pantegrion Capital. Local Sabrina Short, the founder of NOLAVATE Black, is one of the judges.
The Saturday afternoon portion of the event begins at 2 p.m. at Propeller (4035 Washington Avenue). On Sunday, final pitches begin at 10 a.m., followed by final demonstrations starting at 2 p.m. at the Mahalia Jackson Center (1419 Basin Street).
“New Orleans is at the intersection of technology, arts, and commerce, which represents the three major components of a team in StartupBus, namely developers, designers, and influencers. Besides, the support from the New Orleans community, such as Fund17, Silicon Bayou, and Propeller, has been tremendously important to the success of our event,” said Madelena Mak, the senior national director of StartupBus, explaining why New Orleans was chosen as the final stop. “On top of all that, (New Orleans) also happens to the center point between all the regions we are launching our buses from, which ensures our bus routes to activate as many tech communities as possible for our goal to democratize tech entrepreneurship across America.”
This weekend’s collection of events are open to the public.
Prader believes guests will learn about the thinking and logistical questions that go into launching a business, while also garnering the opportunity to network with influencers, designers, developers, and like-minded business professionals.
“I want young black local tech entrepreneurs to be inspired by a young black male from New Orleans, and to know that despite capital or background, you can still create a disruptive business,” he said.
According to Global Policy Solutions, if people of color owned businesses at the same rates as white entrepreneurs, it would result in 9-million more jobs and $300 billion in worker income. Advancing Black Pathways and Chase for Business aims to improve the financial health of black Americans through increased savings, improving credit, homebuyer counseling and helping black-owned small businesses get access to the capital they need.
“It’s important that we do our part to ensure diversity among those who are creating the world of tomorrow,” said Christopher Hollins, the managing director of Chase Business Banking. “Investing in more opportunities and resources for black entrepreneurs is a part of that effort. We’re excited about this collaboration with StartupBus because it brings the power of community and collaboration to life in a really fun way.”
Suzanne Pfefferle Tafur is the associate news editor of BizNewOrleans.com
