Over the past 11 months, 100 small, diverse businesses in North Texas advanced through the Dallas Mavericks’ Mavs Business Assist (MBA) program, presented by ZenBusiness.
After six educational sessions spanning the course of the 2023-24 MBA experience and a fast pitch competition that saw $30,000 in prize money distributed, the program culminated in a final pitch grand finale on Tuesday, Aug. 6.
The MBA final pitch at The Echo Lounge had the program’s Elite Eight compete in a Shark Tank-style pitch competition for a first and second-place cash prize.
The three-hour event invited participants from the 2023-24 cohort to celebrate their accomplishments and participate in hosting the event as caterers, pop-up displays, and, of course, competitors.
A panel of esteemed business-minded judges, headlined by Dallas Mavericks CEO Cynt Marshall, lined the front of the stage to hear the Elite Eight’s final presentations.
Among those competing in the final pitch competition were winners Black to the Lab and BLACKLIT, who took home the $25,000 and $15,000 cash prizes, respectively.
Kristen Wells-Collins’ Black to the Lab earned the grand prize for its product innovation and ability to scale to new heights.
After winning the fast pitch competition in March to secure her place in the finals, Wells-Collins used her prize money to hire a CMO and dig deeper into her company’s growth opportunities. From those meetings and the feedback received in the earlier competition, she enhanced her presentation into a confetti cannon-worthy pitch.
“My preparation for the finals began by diving into everything that I learned throughout the MBA program, but also what I already know about my business and what I want to happen,” said Wells-Collins. “Our first activity kit features lip gloss and body scrub and things that we know young girls love, so now that we have their attention, we really want to pique their interest and get them curious about other industries within the STEM field.”
What’s next now that Black to the Lab has a $25,000 influx of cash— a new plant-based chemistry activity kit launching just in time for the holiday season that will allow students to formulate their own bath bombs.
In second place, taking home $15,000, was Nia-Tayler Clark’s BLACKLIT. Clark’s captivating presentation and storytelling helped convey her business’ mission to close the literacy gap, increase representation, and cultivate conversations across divides.
As a former English teacher, Clark realized first-hand the need for BLACKLIT. What started as a monthly subscription box sharing the stories of authors who better represented a wider audience, BLACKLIT transformed into a brick-and-mortar shop to create a more hands-on approach.
As the first bookstore in the city of Farmers Branch, BLACKLIT has already touched the lives of many who can shop somewhere they finally feel represented in the products on the shelves.
In Clark’s four-minute pitch, she explained the importance of BLACKLIT’s mission but emphasized the cash flow problems preventing them from investing in as much new material as desired.
“To be a part of this MBA program and to have the Dallas Mavericks supporting BLACKLIT was just a reminder that BLACKLIT is supposed to be here for such a time as this,” said Clark. “I was going back and forth like, ‘Do we open, do we close, do we pause,’ and the Dallas Mavericks gave me the green light to go and not stop.
“We have literally been in survival mode for a while, as people got to see when we publicly faced eviction and were able to overcome that, so winning this will take us out of survival mode and help us to be more proactive instead of reactive.”
With the $15,000 runner-up prize, BLACKLIT will have two months’ rent covered entirely, allowing the focus to shift away from the money and back to its mission.
In addition to the top two finishers, the Elite Eight featured outstanding pitches from Front Row Live, Pawlicious Cookies, Sir4ourth Enterprises, That’s Sew Creative, The Breast Choice Lactation, and Vanta Black Television.
This year’s Elite Eight was just one portion of the program’s success, which started with 472 applicants for the 2023-24 class and was whittled down to 100 total participants, all of whom acted as vibrant examples of how the Mavs Business Assist program has evolved into the life-changing platform it is today.
Formed under the Mavs Take ACTION! “investment” pillar, the program initially focused on providing funds for local and diverse chambers of commerce before expanding to a more hands-on role in 2022 to help businesses flourish from the ground floor.
“I tell participants all the time, the true reward isn’t in winning this final pitch competition,” said Sean Reed, director of corporate social responsibility for the Mavericks.
He explained that simply being selected as a participant in the MBA program is the biggest prize.
Through the connection with the Dallas Mavericks, MBA participants are exposed to sessions that expand on key principles like marketing, finance, tax, and human resources, are featured on major platforms, recommended to those who lean on the Mavs as leaders in the community, and upon completion of the program, invited to be official business partners of the team for future opportunities.
Austin, Texas-based ZenBusiness’ CEO & Founder Ross Buhrdorf, who acted as a judge for Tuesday’s final pitch competition, remarked that starting a business can be scary, but believing in oneself and forming a trusted community of advisors and likeminded entrepreneurs will lead you on the path to success, all of which are driving principles of the MBA program.
“Having an organization like the Dallas Mavericks behind you really solidifies that you are a Dallasite. You have people cheering for you, rooting for you, and helping you connect the dots,” said this year’s winner, Kristen Wells-Collins.
Applications for the 2024-25 Mavs Business Assist program will open from Aug. 19 to Sept. 5.
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