Shark Tank investor Daymond John is leading the fifth annual Black Entrepreneurs Day, continuing his commitment to supporting Black-owned businesses with $100,000 in funding. Established during the racial justice movement after George Floyd's death, Black Entrepreneurs Day focuses on empowering Black entrepreneurs with financial resources, and this year’s grants will be awarded with no equity requirements—just support with “no strings attached,” as reported by Inc.
The application period for these grants remains open through November 1, and John has shared insights into what makes an ideal candidate. He emphasized the importance of a clear vision, saying, “If you can articulate that vision—whom you’re solving a problem for, why you’re the one to solve it, and how these funds will make a difference—that’s all you really need.”The main event will take place on November 22nd at Atlanta’s Fox Theater, where attendees can celebrate Black entrepreneurship and hear from guests like Olympic gold medalist Jordan Chiles, media personality Charlamagne tha God, and rappers Flavor Flav and 2Chainz. This free event aims to spotlight Black-owned businesses and encourage community support and inspiration.
Reflecting on the challenges that many Black entrepreneurs face, John noted, “We don’t come from legacy wealth. We’re not getting as much education as we need... We’re often last to be hired and first to be fired, and entrepreneurship is tough even without these additional obstacles.” Still, he believes that social media and technology are leveling the playing field, providing valuable information and opportunities for entrepreneurs to succeed. “You add funding, inspiration, and knowledge to that,” he said, “and I think we have a better shot now than ever before.”
John originally founded Black Entrepreneurs Day to shift the conversation from “watching communities burn businesses” to helping them build new ones. However, he acknowledged the recent corporate retreat from supporting racial justice causes, pointing out that some organizations are less inclined to support DEI initiatives today. Still, he praised those who continue to stand by Black entrepreneurs, saying, “I love to talk about the organizations that still feel it’s positive and necessary to support us, even when the spotlight is off.”
During last year’s event, John helped distribute more than $200,000 in grants, and this year’s partnership with the NAACP will bring the event’s lifetime grant total to over $1 million. Those unable to attend the event in person will have the opportunity to join via livestream on BlackEntrepreneursDay.com and affiliated social media platforms, allowing the celebration of Black business to reach a global audience.