Greater Phoenix nonprofit hosts entrepreneurial competition at 850PBC following three-workshop training cohort
TEMPE, Ariz. — May 15th— The Arizona Microcredit Initiative (AMI), a 501(c)(3) nonprofit organization affiliated with Arizona State University, hosted its second annual pitch competition on May 8th at 850 PBC in Downtown Phoenix, awarding $7,000 in total prizes to entrepreneurs from underserved communities across Greater Phoenix.
The event, which ran from 12 pm to 3 pm at the ASU Edson E+I Space, 850 N. 5th St, featured live pitches from entrepreneurs who had completed AMI’s three-workshop training cohort in April. The cohort had covered business model canvas development, small business accounting fundamentals, and pitch presentation strategy, equipping participants with the tools to articulate their business vision to a panel of judges. The local run mother empowerment group, Mamacitas, provided catering for the event.
Prize awards sponsored by the Integro Bank Foundation, Prestamos CDFI, and 303 Lighting included $3,000 for first place, $2,000 for second place, $1,000 for third place, and a $1,000 People’s Choice award selected by audience vote. The competition marked a new chapter for AMI, which had supported more than 100 small businesses and had been gifted over $80,000 in grants since its founding in 2011.
“This competition is about more than prizes. It’s about showing entrepreneurs in our community that their ideas have real value and that people are invested in their success,” said Catherine Jiang, executive director of AMI. “Every participant has already committed weeks of preparation through our workshop cohort. The pitch competition is the culmination of that work, and we’re proud to put capital directly into the hands of founders who need it most.”
About Arizona Microcredit Initiative
Arizona Microcredit Initiative (AMI) is a 501(c)(3) nonprofit organization affiliated with Arizona State University, Barrett, The Honors College, and the W. P. Carey School of Business that empowers entrepreneurs across Greater Phoenix and Maricopa County to start or expand their businesses. Founded in 2011, AMI has supported more than 100 small businesses by providing over $40,000 in microcredit and hosting hundreds of workshops throughout the Valley. AMI offers low-interest microloans ranging from $1,001 to $7,500 with reduced credit barriers designed to reach entrepreneurs who are excluded from traditional lending, as well as free consulting services and free business workshops. Learn more at azmicrocredit.org or connect with us on social media by following @azmicrocredit on Instagram and LinkedIn.