The Brooklyn Chamber of Commerce and its retail initiative, Brooklyn Made, are putting a Brooklyn spin on “Shark Tank,” the reality TV show in which entrepreneurs pitch their million-dollar ideas to a panel of investors in hopes of securing funding.
On April 14, ten Brooklyn-based businesses will present their strategies in a live, Shark Tank-style competition before a panel of judges from the business and civic sectors at the inaugural Ignite Brooklyn Pitch Competition at the BRIC Arts Media Ballroom in Downtown Brooklyn, in front of a live audience.
The contest is the culmination of a new $400,000 grant-and-pitch competition funded by Wells Fargo, Ignite Brooklyn Made, in which more than 200 businesses applied for the opportunity to receive $25,000 in initial funding and participate in an advisory program focused on growth strategy, financial planning and scaling their operations.
The finalists reflect the diversity of Brooklyn’s small-business community, spanning food, fashion, beauty and home goods — from a mother-daughter Jamaican sauce company to a Malaysian pantry brand and a Brooklyn-born apparel line celebrating neighborhood identity.
The businesses include Avalah All Natural, a natural beauty care line; Auria’s Malaysian Kitchen, a specialty food company producing small-batch Malaysian pantry staples; Boss Dotty Paper Co., a stationery and gift brand company; Flatbush Granola Company, a food brand creating small-batch granola blends; Kemushi Sauce, a sauce company inspired by Japanese culinary traditions; African inspired and sustainable fashion brand Shiyenze; clothing brand Skool Milk; Teazert Tea, a specialty tea company offering premium loose-leaf teas inspired by classic desserts; design studio Terrart NYC that creates handcrafted, self-sustaining terrariums and moss installations, and food brand Ting A Ling, founded by a mother-daughter duo producing authentic Jamaican jerk sauces and marinades.
Since early March, the primarily minority-owned businesses have taken part in individual strategy sessions, cohort workshops and pitch-refinement training, working with experienced advisers to strengthen their capital-deployment plans, financial projections and investor-style presentations outlining their growth strategies.
At the April 14 event, judges will evaluate the ten entrepreneurs on the strength of their growth strategy, market opportunity and scalability, clarity of capital deployment, operational readiness, and the quality of the presentation and Q&A. The strongest presentations will receive additional funding: $25,000 for first place, $15,000 for second place and $10,000 for third place.
Randy Peers, president and CEO of the Brooklyn Chamber of Commerce, which represents 62,000 local businesses, said the Ignite Brooklyn Pitch Competition is about “momentum,” adding, “Brooklyn’s small businesses are creative, resilient, and essential to our local economy. Ignite Brooklyn Made gives them the capital and visibility they need to move forward with confidence.”
Gaila DiLoreto, executive director of Brooklyn Made, said the program reflects the organization’s commitment to showcasing and supporting locally made goods and the entrepreneurs behind them.
“Brooklyn is full of ambitious small businesses with real momentum but limited access to capital. This program is about removing that barrier and backing these entrepreneurs with funding, support, and a platform to be seen so they can grow and build long-term impact here in the borough,” DiLoreto said.
Retail buyers, community leaders, entrepreneurs, supporters of Brooklyn small businesses and others interested in discovering local brands are invited to attend Brooklyn’s inaugural Shark Tank-style competition and learn more about the makers and their products, which will be available for purchase. More information about the event is available on the Brooklyn Made website.
