Prosperity Now Announces RISE Challenge Award Winners at the 2024 Prosperity Summit

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Washington, D.C. - Prosperity Now is excited to announce the winners of the RISE Challenge, a transformative competition designed to empower and uplift entrepreneurs of color by harnessing the power of Community Development Financial Institutions (CDFIs). The winners were revealed today at the 2024 Prosperity Summit, an event that has gathered over 1,500 experts, advocates, policy makers, and financial executives to envision a more inclusive American economy.

The RISE Challenge is a centerpiece of the Entrepreneurship Accelerator, a groundbreaking partnership between Prosperity Now, Avanade, and Accenture. This collaboration merges Accenture's and Avanade's technological and digital expertise with Prosperity Now's deep-rooted commitment to fostering intergenerational wealth in communities of color. The RISE Challenge plays a pivotal role in advancing equitable lending practices by empowering CDFIs to make more informed and just lending decisions, ultimately fueling the growth of entrepreneurs of color by providing access to capital, resources, and customized solutions for their unique challenges.

Winners of the RISE Challenge were awarded three prizes to help them further develop and scale their groundbreaking solutions: $50,000 for the first-place winner, $25,000 for the second-place winner, and $15,000 for the third-place winner. The winners were announced by Heba Ramzy, Global Citizenship Executive, Avanade and presented by Marisa Calderon, CEO and President of Prosperity Now.

Bianca J. Jackson, Chief Innovation Officer at BrickRose Exchange, took first place for her groundbreaking work addressing Black disinvestment. Bianca developed X-Campus, a virtual community that equips over 180 Black entrepreneurs with essential financial literacy and management skills.

Jocelyn Walters, Head of Partnerships at Next Street, and Lukas Haffer, CEO & Co-founder of Casca secured second place for their pioneering solution to improve loan assistance and identification. Their innovation bridges the gap between small businesses and lenders across the U.S., ensuring greater access to capital for small business owners.

Vernisha Williams, Strategic Partnerships Manager at Centro Community Partners, earned third place for her creation of a scalable artificial intelligence hub. This AI-driven platform provides culturally relevant resources, helping over 8,000 entrepreneurs access the funding needed to support their businesses.

"The RISE Challenge is centered around a critical question: How can we harness the power of CDFIs to more effectively support entrepreneurs of color?," said Marisa Calderon, President and CEO of Prosperity Now. "The solutions that RISE challenge winners presented today will help to further the goal of discovering and nurturing groundbreaking strategies that can bridge the racial and ethnic wealth gap by fostering entrepreneurial success and economic resilience in communities of color."

"Initiatives like the Rise Challenge are essential for empowering underrepresented entrepreneurs with the recognition and resources they need to shine and thrive. The partnership between Prosperity Now, Avanade, and Accenture is a powerful example of how organizations can come together to break down barriers and create lasting economic equality for those who have been marginalized for far too long," said Heba Ramzy, Global Citizenship Executive, Avanade.

The RISE Challenge is more than just a competition-it's a bold commitment to address the systemic barriers that entrepreneurs of color face, particularly in accessing capital through CDFIs. The challenge seeks to identify and scale innovative solutions that not only provide access to capital but also ensure sustainable, long-term growth for businesses in underserved communities.

The challenge featured an esteemed panel of judges who bring a wealth of experience and a deep commitment to advancing economic equity:

• Hind Hassan, Senior Manager in the Global Private Equity Practice at Salesforce, who leverages technology to support PE firms drive value in investment.

• Kennie Blanco, General Partner at Libra Leaders, an innovative venture capital investment platform composed of visible industry leaders centered on female entrepreneurship and wealth expansion..

• Jonathan Lawless, Head of Homeownership at Bilt Rewards, whose platform empowers renters to build better credit and make homeownership more accessible.

These innovators have demonstrated exceptional creativity and dedication, offering solutions that address the unique needs of entrepreneurs of color. Their work exemplifies the innovation and commitment needed to create real, lasting change in our communities.

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About Prosperity Now -- Since 1979, Prosperity Now has been a persistent voice championing economic opportunity, innovating outside of and beyond existing systems to build power for all communities. We advance economic equity by investing in bold new ideas, and we work deeply at both the grassroots and national level to impact our entire financial ecosystem. By setting goals for our economy and following through with targeted approaches based on need, we are equipped to drive forward and cement big structural solutions. Learn more at www.prosperitynow.org.