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Entrepreneur and Shark Tank Investor Daymond John developed Black Entrepreneur Day in 2020 to help the community in the wake of the turmoil caused by that year’s police brutality. Presented by Chase, it is now a global streaming show and event to help “build businesses instead of burning them,” he says. John’s goal is not only to inspire and educate entrepreneurs but also to create tangible opportunities and actual financial support for Black entrepreneurs around the U.S.
When asked why Black entrepreneurs need this specific day, John cites an example from his own entrepreneurial journey: “I didn’t go into the banks when I was a kid because I just thought the banks were evil and they worked all for the government. I didn’t know that cash is trash. I didn’t know what good debt was against bad debt. I would have gone to more things like this for a better understanding of financial literacy.”
Following the success of last year’s event, which had nearly 7 million viewers and gave away $250,000 through NAACP grants, 2022’s show promises to be even more impactful. It brings together some of the most successful black business celebrities and other cultural icons, including breakout sessions with Shaquille O’Neal, Tracee Ellis Ross, Venus Williams, and Spike Lee, to name a few. The event will be filmed and streamed from Harlem’s world famous Apollo Theater with a musical performance by the rapper Big Sean. John has distinct memories of watching the greatest Black entertainers perform at the Apollo on television from his childhood home, hoping to see the venue in person. “Now I’m able to book out the Apollo Theater and give away hundreds of thousands of dollars to people who will be the next Daymond John and pay it forward. So, I think it’s the American story, full circle,” he says.
Boasting powerful partners such as Chase, Google, and Lowe’s, the event brings together brands committed to putting their money where their mouths are. An example is the Build Black with Shopify Pitch Competition, in which three entrepreneurs will have the opportunity to pitch live from the Apollo in front of three judges. The winner will receive a grant for $25,000 to support their idea and business. The event is also giving away $150,000 to Black entrepreneurs and business owners through the NAACP Powershift Grant. Applications for the grant are now open and will close on Wednesday, October 12. If you can’t attend the event in Harlem, you can still watch it live on October 27 at 7 p.m. ET on BlackEntrepreneursday.com and the event’s streaming partner, Facebook.
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Teneshia Carr
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