Vermont Slauson Economic Development Corporation Awards $25,000 Grand Prize to All Chill Ice Cream
With sponsors including First Citizens Bank, Citi, Comerica and more, the competition provided cash prizes and the capital that businesses need to thrive
Vermont Slauson Economic Development Corporation (VSEDC) awarded a $25,000 grand prize to All Chill Ice Cream during its inaugural Grand Pitch Competition, according to a press release. Connecting South Los Angeles entrepreneurs to the capital that they need to thrive, VSEDC’s pitch competition featured presentations from business owners tasked with convincing celebrity judges and experts that their business has what it takes to soar.
“I’m excited about the number of people who have gone through our business training at Vermont Slauson to qualify as an applicant for the pitch competition,” said Quentin Strode, president & CEO of VSEDC. “I’m hoping this event opens doors for our businesses this year and the coming years leading more people to join our programming.”
Statistics show that Black entrepreneurs and other entrepreneurs of color face significant obstacles when it comes to accessing capital. As an advocate for those who have been historically disconnected from the opportunities that all people need to succeed, VSEDC offers free one-on-one business coaching, year-round business cohorts, workshops, affordable small business loans and much more as they guide entrepreneurs at every stage of the journey. Open to businesses who completed one or more of VSEDC’s programs over the past two years, the competition also awarded a second place $15,000 prize to IGL Nails and a third place $10,000 prize to Liberated Eyewear, Inc.
“Winning this prize allows us to upgrade our equipment,” said Genelle Brooks-Petty, co-owner of Leimert Park-based All Chill Ice Cream and grand prize winner. “We can double our production with the same team that we have, with just one new machine that we can purchase with this prize.”
In partnership with First Citizens Bank (grand prize sponsor), Citi (second place sponsor), Comerica (third place sponsor), Citizens Business Bank and US Bank, the competition featured judges from traditional lending institutions, industry professionals and investors who provided live feedback after each pitch. Selected from a field of 40 small business clients, five businesses participated in the competition - bravely facing direct and constructive critique provided by the judges.
“This is just the beginning of something magical for South L.A.,” said Strode. “Our communities are full of deserving entrepreneurs who simply need coaching and a platform. As our pitch competition evolves, we look to increase the number of prizes awarded and the amount with the help of sponsors who share our vision for stronger communities.”
Content for this article was sourced from PR Newswire.
