October 21, 2021
Economy

The Metropolitan Economic Development Association’s Million Dollar Challenge Awards $1.2M to Minority Entrepreneurs

Five entrepreneurs now have financial backing for their businesses thanks to a group called Meda.

According to PR Newswire, Metropolitan Economic Development Association’s Million Dollar Challenge — the largest Black, Indigenous, and People of Color (BIPOC) entrepreneurial competition in the nation — has announced the winners of the fourth annual competition where five companies received $1.2 million in financial support.

Metropolitan Economic Development Association was founded by a group of Minnesota business leaders who want to help minority entrepreneurs succeed. The group works to tackle inequity within minority communities in the state.

The group states, “Meda operates a growing Community Development Fund Institution (CDFI) that provides needed capital for BIPOC businesses to become sustainable.” Since its inception, it has helped to launch more than 500 BIPOC businesses…

Read full article here: finance.yahoo.com