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…