$100k Black Entrepreneur Investment Prize

Made possible by Rep Matters, the $100k Black Entrepreneur Investment Prize is back for its 3rd year! Rep Matters is where Black founders come for inspiration, connection, and support. They are bringing together a team of angel investors to Startupfest who will award one Black-led startup with a $100k investment.

 

Eligibility Criteria

The $100k Black Entrepreneur Investment Prize is open to any Black-led startup in attendance. For the purposes of this prize, we define a Black-led startup as a startup with the most senior member of the executive team being a Black leader.

There’s no application process, no form to fill out, and no video to prepare. You just need to register, get onsite, and be ready to wow our Black Entrepreneurship Investor Judges with a superb pitch that makes the cut.

 

The Process

Pitching
Your goal is to get at least one Investor Judge to shortlist your startup during the first two days of the event.
  • Pitch your startup to the Investor Judges at the $100k Black Entrepreneur Investment Prize space in The Startupfest Village.
  • If you connect with a judge elsewhere onsite, you can ask to pitch to them on the spot! Connect with as many judges as possible; it only takes one to make the shortlist.
  • Judges will be wearing an Investor Judge badge and a green lanyard to pitch onsite. Avoid pitching in bathrooms, but anywhere else is fair game!
  • Your pitch needs to be no more than 1 minute but be prepared for questions from the Investor Judges.
 
The Shortlist Process
  • Each Investor Judge will submit their chosen startup to the shortlist by Thursday afternoon, July 11th. Shortlisted startups will be contacted by a Startupfest team member.
 
The Finalist Process
  • On Friday, July 12th, finalists will have 1 minute to pitch their companies on the main stage to the audience. This is followed by a 25-minute Q&A with the Investor Judges.
  • The winner of the $100k Black Entrepreneur Investment Prize will be announced at the closing ceremonies on Friday afternoon.
 

Prize Details

The $100k Black Entrepreneur Investment Prize is an investment from up to 10 angel investors. Our default terms are based on an industry-standard SAFE agreement (for reference, please see this standard SAFE agreement). The winning startup will sign the SAFE agreement with each of the investors individually. The investors are willing to create a voting trust, if and when the SAFE agreement converts to equity.

Think these terms shouldn’t apply to you? Need a tweak? We can discuss that. While we adopt industry standard agreements for the sake of simplicity, the judges are willing to discuss alternate terms proposed by shortlisted Startups during their meeting.

 

Meet our judges!

Host: Phil G. Jospeh

Phil G. Joseph is an investor, changemaker and community builder who explores the intersections of culture, technology and venture capital to build towards a future where all can thrive. He is an Investment Associate at Real Ventures, and the founder of Rep Matters, a non-profit focused on empowering Black tech founders. Rep Matters launched the Black Entrepreneur Investment Prize at Startupfest in 2022, and is proud to bring together Black founders, angel investors, and supporting organizations each year since.

Urbain Kengni

Urbain Kengni is a people leader at Workday and sits on the board of directors of two Canadian companies. He has over fifteen years of experience in management consulting, deal advisory, project management and software engineering working for companies including KPMG, Bombardier and LG Electronics. He has accompanied and trained professionals from public and private organizations in project structuring, PPP partnership and deal financing.

In the past few years, Urbain took his passion for investment and advisory to help Canadian start-ups such as Ubenwa, Actionis Inc, and Sheno Services to successfully raise funding or grow operations. In the entrepreneurship world, Urbain’s goals are threefold: connect entrepreneurs from all backgrounds to existing non-financial and financial resources, help grow the black investors community, and have fun.

Melissa Allen

Melissa Allen began her career in digital marketing first interning at Foreign Affairs Canada in Paris, France, and then working with tech companies such as Torstar Digital and Google, before pivoting to an award-winning career in financial services at Desjardins.

Combining her passions for tech and finance, Melissa became an angel investor and Limited Partner in 2019 and after selling her financial practice in 2020, began lending her expertise in advisory and leadership roles at startups such as Alo Solutions and Bay Mills before joining the League of Innovators as the Executive Director and LOI Venture as a Venture Partner...all while starting her own angel fund, Capital M, to invest in diverse Canadian founders!

Frank Baylis

Frank Baylis is presently the executive chairman of Baylis Medical Technologies. From October 2015 to October 2019 he was Liberal Member of Parliament for the federal riding of Pierrefonds-Dollard. Frank sat on the Industry Committee, the Foreign Affairs Committee and the Ethics & Privacy Committee. He was the chair of the Canada-UK Parliamentary Association and a founding member of the Black Caucus. 

Prior to being elected Frank Baylis was President of Baylis Medical Company from 1989 to 2015. During that period Baylis Medical grew into a major Canadian developer and manufacturer of medical devices. The company sold in 2021 to Boston Scientific for $1.75 Billion USD. In 2011 he and his partner Kris Shah won the Ernst and Young Entrepreneur of the Year – Life Sciences section. In 2018, 2019, 2020 and 2021 Baylis Medical was recognized as one of Canada’s Best Managed Companies. 

In 2004 Frank launched the company charity For the Children (FTC) with the goal of improving access to education for children both in Canada and internationally. This has now grown into the Gloria Baylis Foundation.  He is a Professional Engineer with a degree in Electrical Engineering from the University of Waterloo.

Emmanuel Noutahi

Emmanuel Noutahi is a Principal Scientist and the Lead of the Bio-modality Research Unit at Valence Labs, part of Recursion Pharmaceuticals. His work focuses on representation learning, generative modeling, and human-in-the-loop methodologies to accelerate and enhance scientific discovery in the pharmaceutical industry. Emmanuel is also deeply committed to open-source projects and is a co-founder of Point Virgule, a media studio dedicated to showcasing the contributions of African researchers through initiatives such as Eurêka.

Andrea Nicholls

Andrea is a seasoned finance leader with over 30 years expertise in both private and public companies spanning various sectors including legal (professional services), big-4, high-tech, financial services, multimedia, digital, pharma and shared services. An alumni of PwC, she is currently the Chief Financial Officer of Dentons Canada LLP, with responsibility for the Firm’s Finance strategy and operations. She is a member of Dentons’ Canada National Management Committee; the Executive Sponsor and co-founder of Dentons Canada’s Black Professionals Network;  a member of their Inclusion & Diversity Council and the ESG Ignitor group. Prior to joining Dentons Canada LLP, she served as VP Finance at Triton Digital, a mid-stage tech company.

She sat on Board of Directors of HSBC Bank Canada and currently sits on the boards of Centraide de Grand Montréal (United Way Montréal) and the Center for Addiction and Mental Health (CAMH):  a member of the audit committee of all 3 these organizations. She is currently a member of the advisory committee of the McConnell Foundation, chairing the Audit and IT Committee, and was formerly a member of the Advisory Board Subcommittee - EDI at Desautels Faculty of Management, McGill University. She is very committed to promoting diversity in the Canadian business landscape and does so through active engagement with organizations. Andrea holds a CPA, CA, a US CPA and a Bachelor of Commerce from McGill University.  She has completed the ICD-Rotman Directors Education Program and obtained her ICD.D Designation as well as the Competent Boards & ESG Designation (GCB.D) and Certification.

Tania Clarke

Ms. Clarke is an independent corporate director. She sits on the board of directors of the Business Development Bank of Canada - audit and risk committees, Jamieson Wellness Inc (TSX: JWEL) appointed Audit Committee Chair;  and within the non-profit segment, Futurpreneur Canada and The McGill University Health Center Foundation (MUHCF).

She has held senior and executive positions in both public and private company experience across several industries including manufacturing, consumer goods, retail, food and beverage and financial. Tania is a graduate of the John Molson School of Business at Concordia University and began her career as an auditor at KPMG in Montreal, Quebec. She is a CPA, Canada & US with 30+ years experience, responsible for enterprise risk, financial, reporting, governance, investor relations, legal, real estate, tax and mergers and acquisitions. Ms. Clarke taught in the Case course in the Concordia CPA prep program. On the Community front, she has been a member of various community groups since childhood and has held board positions on the West Island Black Community Association, as well as The Games for Hope Foundation. She also actively mentors young professionals in their career and personal journeys with Audace aux Feminins and The West Island Black Community Association.