What to know about the Million Dollar Challenge finalists:
- Metropolitan Economic Development Association(Meda) chose 13 BIPOC finalists (including two from Minnesota) from more than 200 submitted businesses
- The finalists are:
- Industrack (Plymouth, MN)
- Swipe Credit (Atlanta, GA)
- Mi Terro (City of Industry, CA)
- Please Assist Me (Washington, DC)
- Harvest Nation (Tower, MN)
- SAI Probiotics LLC (Maple Grove, MN)
- HUED (Washington, DC)
- Femly (Baltimore, MD)
- Garagify, LLC (Culver City, CA)
- Flourish Savings, Inc. (Berkeley, CA)
- OptionsMD (Los Angeles, CA)
- ViruTech (Minneapolis, MN)
- HY Naturals LLC (Minneapolis, MN)
- The finalists will participate in a Boot Camp for Successful Pitches from December 7, 2020 through January 22, 2021 and a final pitch event on January 27, 2021
The Quote: Alfredo Martel, President and CEO of Meda
“We are beyond impressed by the innovation, skill and resilience all the companies showed this year. 2020 has been a tough year for most and to see these exciting companies persist is inspiring and tells us the future is bright. As the final companies move on to the boot camp, we are excited to see the results of their hard work and growth at the final stage of the competition.”
Read more about MEDA and the Million Dollar Challenge finalists in the release below. The release has been edited for length.
MINNEAPOLIS (December 3, 2020) – Meda (Metropolitan Economic Development Association) has announced the 13 finalists for the third Meda Million Dollar Challenge. Nearly 200 minority entrepreneurs applied for the competition and the following 13 have been chosen as finalists to compete in the virtual Boot Camp for Successful Pitches.
“We are beyond impressed by the innovation, skill and resilience all the companies showed this year,” Alfredo Martel, President and CEO of Meda said. “2020 has been a tough year for most and to see these exciting companies persist is inspiring and tells us the future is bright. As the final companies move on to the boot camp, we are excited to see the results of their hard work and growth at the final stage of the competition.”
Meda is a nonprofit organization dedicated to helping BIPOC businesses succeed. The past two years of the Million Dollar Challenge resulted in 12 minority businesses from five states receiving financial awards, totaling nearly $3 million.
The Boot Camp for Successful Pitches will take place from Dec. 7, 2020 until Jan. 22, 2021 and will prepare them for the final pitch event. The finalists will then give their final pitch on Jan. 27, 2021.
The Meda Million Dollar Challenge is the largest BIPOC entrepreneurial competition in the nation. Studies reveal that there is large disparity between the success of non-minority and minority business due to lack of financial, human and social capital as well as racial discrimination. Meda hopes to shed a light on this issue and work to develop opportunities in BIPOC communities through the Million Dollar Challenge.
To further support BIPOC entrepreneurs this holiday season, check out Meda’s virtual Meda Marketplace to find the perfect gifts while supporting BIPOC businesses.