Scale Up Pitch Challenge FAQ
Frequently Asked Questions
When is the deadline to apply?
Who can apply?
Is there an age requirement?
Can I have received previous funding for my business?
Do I need to be a member of the National Black MBA Association to apply?
Will I be giving up any portion of my business if I am awarded a prize?
The winnings from the pitch challenge is non-dilutive and you will not have any financial obligation to the NBMBAA®.
If I have applied to Scale Up in the past, am I eligible to apply again?
Will I be notified if I advance to the semi-finals?
Can more than one person from the company pitch?
2023 NBMBAA® Scale Up Pitch Challenge
FREQUENTLY ASKED QUESTIONS
When is the deadline to apply?
August 4, 2023. There will be no applications accepted after 11:59pm on this date.
Who can apply?
Entrepreneurs with ideas and concepts that is in the initial or early stages of development, no more than ten years. Have a founder who is Black (of African descent), who maintains an ‘at least equal stake’ in the startup.
Is there an age requirement?
Be a U.S. citizen and 18 years or older.
Can I have received previous funding for my business?
Founders must disclose any funding already received at the time of registration. There is an allowance for an idea or concept to be already funded before this Challenge by personal or family funds, small amounts of seed capital from outside investors, or modest amounts of funding stemming from institutional or research grants.
Do I need to be a member of the National Black MBA Association to apply?
You do not need to be a current member of the NBMBAA® to apply, however if you are chosen to advance to the semi-finals, you must become a member.
Will I be giving up any portion of my business if I am awarded a prize?
The winnings from the pitch challenge is non-dilutive and you will not have any financial obligation to the NBMBAA®.
If I have applied to Scale Up in the past, am I eligible to apply again?
Yes, you can apply as long as you have not won first place in a previous NBMBAA® Scale Up Pitch Challenge.
Will I be notified if I advance to the semi-finals?
All applicants will be notified if they did or did not advance to the semi-finals by August 20th.
Can more than one person from the company pitch?
Only one person is allow to present and pitch at the competition.