Hakeem “Chamillionaire” Seriki is launching a competition to assist minority and women-owned start up companies.
Chamillionaire appeared on CNBC’s Squawk Alley last week to discuss the competition. “Being an entrepreneur isn’t easy, but it’s even harder for minority and women-led companies,” he said. “These people are solving new and unique problems and I think the only thing in their way is capital.”
“When people say they can’t find African American startups to invest in, it just sounds a little crazy to me,” Chamillionaire said. “At one point I was getting 30 candidates a month, but when I said I only wanted to invest in women or minorities, I started getting just two candidates a month.”
The former rapper and E-40 have been investing money to minority-owned companies via the Convoz app. Contestants in the past have won the $25,000 and mentorship. Now they’re doing a contest worth $100K.
FUBU owner and Shark Tank judge, Daymond John, will also invest and oversee the contestants.
Download the Convoz app for your chance to enter to win. Check out Chamillionaire break down the competition below:
