The National Black Business Competition Rules and Regulations
By submitting your application and video, I acknowledge that I have read & understand the following NBBP ‘Rules and Regulations”:
- Participant must be a Black owner, operator owning at least 51% of the business.
- Participant must be engaged throughout the entire process, no transferring or sharing pitch participation.
- Participant must utilize the same email address throughout the entire process and that email address should be the business email.
- Participant must pitch an existing business solution which is in existence and currently in business, not a future endeavor in need of an investment.
- Pitches must not be longer than three (3) minutes in the live-virtual finals.
- Participants agree to be available for all mandatory sessions and the exception will be determined by NBBP administrators only.
- Should you be included in the top thirty, you will be notified of next steps and requirements, not being able to fulfill the required steps will result in disqualification.
- Participants realize that all times are communicated in Pacific Standard Time (PST) and are required to convert all times to their own time zones.
- The Live pitch will be held on our online- virtual platform and it is a requirement to attend a training session (time slots will be made available to all top thirty finalists) failure to selected and attend a timeslot will result in disqualification.
- By participating in the NBBP competition, business owners give us the right to post and use pitch videos/recordings of live pitch sessions for marketing purposes.
General Competition Information:
- Participants are not required to use the three (3) minutes pitch time; however, they will not be permitted to exceed this time.
- You will be assigned a Corporate Mentor who will provide feedback and coaching, upon assignment, it is your responsibility to schedule at least two sessions with your mentor and arrive on time and prepared.
- No slides, screen sharing, video or audio-visual support will be permitted, and no personal backgrounds will be used in the competition.
- If you provide a product, you will be permitted to use props, samples, product demonstrations during their pitch, if the object can be held or displayed during their allotted three (3) minute presentation and it does not interfere with the use of technology.
- All recordings, including the live pitch, are the sole ownership of the NBBP and may be used in any manner, form or medium including distribution of links that provide access to archived or stored recordings/captures of the event.
- Live presentation will be judged by various members of WBEC-West Corporate Member representatives and sponsor companies. Judges will engage in a short Q&A segment with participants immediately following their pitch in the live pitch event.
- The online- live pitch is open to a public audience for viewing. When the time comes, we encourage you to extend an invitation to your clients, family, and friends.
- Corporate and Government entities may use the information provided by participants to make contact for potential business opportunities.
- A list of top thirty finalists will be shared with the corporate judges and mentors at the end of the competition.
- NBBP does not guarantee participants will be awarded a contract or secure new business.
- The Third-place winner will be awarded $2,500, the second-place winner will be awarded $5,000, and the grand prize winner will be awarded $10,000.
- NBBP reserves the right to disqualify participants for not meeting required deadlines, rules, and regulations.
- When a decision is required, NBBP will be the final authority.
Mandatory Tech Check / Competition Prep Session:
- Upon notification that you have been selected as a top thirty finalist, you will receive request to provide additional information such as an I9 or other business information. Failure to comply by the date required will result in disqualification.
- You are required to attend a technical check, mentor meet-n-greet, both dates will be provided shortly after you are notified of your standing. In some cases, there may be multiple dates to select. Failure to select and attend will disqualify you from the competition.
- The NBBP will notify you via email, should you be disqualified for any reason during the competition.