November 14, 2022

Michael B. Jordan Returns For Classic Legacy Startup Pitch Competition, Now Open To All Black Founders

Invesco QQQ’s startup pitch competition is back; this time, it’s even bigger than before. The competition has returned for its second year in partnership with MaC Venture Capital and Concrete Rose Capital

Invesco’s QQQ Legacy Startup Pitch Competition

Invesco QQQ, an exchange-traded investment firm based near Chicago, first launched the Legacy Classic startup pitch competition last year.

Initially, the competition was only open to Black founders from HBCUs. However, according to AfroTech, the 2023 competition is open to all Black-founded seed-stage companies with less than $3 million.

Since the news was announced, over 200 startups have submitted their applications to partake in the competition.  The next generation of tech talent will be able to network and connect with partners from venture capital firms Concrete Rose Capital and Harlem Capital.

Alongside Michael, these firms will serve as advisors for the competition. Additionally, participants will have the opportunity to receive expert advice and mentorship from actor Michael B. Jordan and the competition’s advisors. 

“We know that Black founders often hire talented HBCU alumni, and we wanted to give even more phenomenal founders the opportunity to submit this year,” said Mike Palank, General Partner of MaC Venture Capital. 

“We’re excited to have Michael B. Jordan join us and help elevate the startups, interview the three finalists, and ultimately pick the winner. Michael is a savvy businessperson, so being able to tap into his talents will be a fun and exciting addition to this year’s competition,” 

The competition’s advisors will pick the winners, and winners will receive their awards from Michael B. Jordan during the Invesco Basketball Showcase on Feb. 4th. In addition to the winner, startup companies can connect and potentially receive investment from VC partners.  

Last Year’s Winner TracFlo 

Last year’s competition winner, TracFlo, took home a $1 million investment from Serena Ventures and MaC Venture Capital. Since winning, Serena Ventures has assisted the Black-owned startup in hitting primary KPI targets and generating a seamless financial management software that makes it easier for contractors to do their job. 

“I’ll say first that just the public recognition TracFlo received from winning the competition immediately helped with internal talent recruitment and external business development,” added Palank. “Suddenly, everyone knew about Khalid and TracFlo. It was great to see. But more importantly, TracFlo got two partners in MaC and Serena Ventures, and the teams behind these two great venture firms.” 

Applicants will have until Dec. 9th to submit business proposal decks to the Invesco team via the Prudential Center website.

Kumba Kpakima

Kumba Kpakima is a reporter at POCIT. A documentary about the knife crime epidemic in the UK got her a nomination for the UK's #30toWatch Young Journalists of the Year.