Hakeem Seriki, aka “Chamillionaire” has launched a competition that is worth $100,000. The competition aims to help black-owned start-ups get funding for their businesses.
The competition has started and will run through December 6th, 2019. To participate in the contest, start-ups would download the Convoz (an app and social video conversation platform founded by Chamillionaire last year) from either the iOS or Android platform. After launching the app, candidates clicked on the banner at the top of the home feed to view the details and rules of the contest. The rapper turned black entreprenuer who hails from Texas has shortlisted the persons that will help him to select the winner of the competition. The list includes investor and West Coast rapper Earl T. “E-40” Stevens, FUBU’s Daymond John, and equity investing platform, Republic.
Earlier in the year, Hakeem had a competition for minority founded start-ups, at the end of which he invested $10,000 on the winner. The second phase of the contest saw him (Chamillionaire), E-40 and Republic collaborating to give a minority or woman-founded start-up $25,000. The competition was also announced on the Convoz app.