Racquel Clarke, owner of Fit FUNd places third in the 2016 Start Something Challenge
July 29, 2016 (Jersey City) – Last Night, three New Jersey women entrepreneurs won a share of $22,500 in business grant funding during the 2016 Start Something Challenge Grand Finale. Hosted by New Jersey nonprofit, Rising Tide Capital, the Finale was the culmination of a six-week statewide business pitch competition. Held at St. Peter’s University, the sold-out event brought together Rising Tide Capital’s community of supporters, partners, funders and entrepreneurs to hear the 10 finalistspitch their business ideas.
Teaneck entrepreneur, Racquel Clarke pitched her way to third place, winning $5,000 for her social enterprise, Fit FUNd, a corporate wellness vendor that underwrites the cost of fitness programs for children and underserved communities with their profits from corporate clients.
“Everyone should have easy access to fitness and wellness, no matter where they live,” Clarke said. “I noticed there was a real need for a more convenient and flexible ways to get healthy in both corporate and community settings. Fit FUNd allows for fitness and wellness to be easily delivered to anyone–our goal is to break down barriers to wellness and bring it to the people where they already are.”
While women entrepreneurs, particularly women of color, are currently starting new businesses faster than anyone else in the United States, they often have trouble growing those businesses due to lack of access to business resources, particularly access to capital.
For the first time in the five-year history of the state-wide competition, all ten finalists were women business owners. Not only were they supported and coached from the moment they entered the competition, but they were also competing for business grants to invest in their their growing enterprises.
“It was such a privilege to see all of these ladies use the Start Something Challenge as a platform to promote their businesses, and demonstrate to the judges why their work is adding value to our communities,” said Alfa Demmellash CEO and co-founder of Rising Tide Capital. “Thanks to visionary funders like the Blackstone Charitable Foundation and JPMorgan Chase we are able to make an investment into a business like Racquel’s to help her achieve her business goals. I know I speak for our judges, our sponsors and the entire team at Rising Tide Capital when I say that I am excited to see what the future holds for Fit FUNd.”
While only three entrepreneurs won cash last night, all of the finalists will receive prizes from Rising Tide Capital. The seven finalists not winning cash prizes will all receive an iPad, which will presented along with a surprise Community Choice award of $1,000 at the Start Something Champions Gala on November 1 at the Liberty House in Jersey City. All ten finalists will also be celebrated at a showcase event to be announced in September.
The Start Something Challenge (SSC) is a statewide pitch competition and business-strengthening opportunity for New Jersey entrepreneurs. Hosted by nonprofit organization, Rising Tide Capital, The Challenge is funded by visionary supporters, including the Blackstone Charitable Foundation and JPMorgan Chase. Since 2012, The Start Something Challenge has empowered 391 New Jersey entrepreneurs across 80 towns and cities in New Jersey, to collectively generate 120 million media impressions.
To learn more, visit www.StartSomethingChallenge.org.
Headquartered in Jersey City, Rising Tide Capital, Inc. is a 501(c)(3) non-profit organization founded with the mission to empower entrepreneurs to create and grow small businesses which transform lives and communities. The organization’s vision is to build a replicable model for high-quality entrepreneurial development services that can be adopted locally in other low-income communities.
Learn more at www.startsomethingchallenge.org