NEW HAVEN, CT / ACCESS Newswire / January 30, 2025 / As the U.S. sees an alarming rollback of funding, resources, and support for Black businesses, Madam Nselaa Ward, J.D. is creating a financial Underground Railroad-an internal network dedicated to funding and elevating Black entrepreneurs. Through the Madam Nselaa Ward, J.D. Black Business Pitch Competition at Yale University, held in collaboration with Yale's Black Solidarity Conference on Saturday, February 1, 2025, at the Yale Afro-American Cultural Center, Black entrepreneurs will receive cash prizes, mentorship, and access to a private network of investors, business leaders, and wealth-building strategists committed to closing the racial wealth gap.

At a time when corporate DEI budgets are being slashed, Black business grants are disappearing, and access to capital is shrinking, this initiative is not just a competition-it's a covert financial revolution ensuring Black businesses are funded, protected, and built to last for generations.

"This country has a long history of limiting, restricting, and outright stealing from Black entrepreneurs," said Madam Nselaa Ward, J.D. "While they try to cut us off from funding, we are creating our own economy-one that can't be shut down, one that doesn't rely on their approval. This competition is not just about winning-it's about mobilizing financial freedom for Black businesses, no matter what obstacles they put in our way."

The Economic Suppression of Black Businesses & the Need for an Underground Railroad

While discussions on racial wealth disparities have gained national attention, Black entrepreneurs continue to face systemic financial barriers:

• Only 1.2% of venture capital funding goes to Black founders, despite Black-owned businesses being among the fastest-growing in the U.S. (Crunchbase)

• Banks are twice as likely to reject Black business loan applicants than white applicants, even when they have similar financial profiles. (Federal Reserve)

• Corporate DEI programs are being defunded at record rates, with major corporations quietly eliminating diversity funding after years of pledges to support Black businesses. (The Washington Post)

Instead of waiting for outside funding that historically never comes, Ward is building an internal Black financial ecosystem that trains, funds, and protects Black entrepreneurs, bypassing traditional financial gatekeepers.

Beyond Capital: Why Mentorship & Networking Are the Keys to Long-Term Black Business Success

While funding is critical, mentorship and networking are just as essential in building Black businesses that last for generations:

• 88% of Black entrepreneurs say that lack of mentorship limits their ability to scale. (McKinsey & Company)

• Black founders with strong networks are 72% more likely to secure funding and business partnerships than those without mentorship. (Harvard Business Review)

Recognizing this, the Madam Nselaa Ward, J.D. Black Business Pitch Competition ensures that winners and finalists gain access to top-tier Black executives, investors, and business leaders who are committed to building a financial underground network for Black success.

• Hands-on mentorship from leading Black executives, investors, and industry experts

• Networking opportunities with high-level professionals, funders, and potential business partners

• A seat at the United in DEI Legacy Table, a coalition of Black business leaders committed to economic empowerment

"This is about more than just writing a check," Ward said. "This is about giving Black entrepreneurs the tools and the networks they need to build financial power that cannot be taken away."

The Madam Nselaa Ward, J.D. Scholarship: A Commitment to Generational Wealth

• Community Service - Businesses that reinvest in their communities

• Resilience - Navigating challenges with strength and adaptability

• Love & Connection - Leading with purpose and relationships

• Communication - Mastering storytelling and business strategy

• Health & Wellness - Prioritizing holistic success

• Mindset - Cultivating a wealth-building mentality

• Team Building - Strengthening businesses through collaboration

• Allyship - Creating inclusive economic opportunities

• Diversity, Equity & Inclusion (DEI) - Fostering Black economic advancement

• Social Justice - Using business as a force for systemic change

Recipients of the scholarship are expected to pay it forward, serving as mentors, business leaders, and advocates for Black economic empowerment.

A Collaboration with Yale University's Black Solidarity Conference

The Black Solidarity Conference at Yale has been a hub for student activism, scholarship, and leadership development for over 25 years. This partnership ensures that economic empowerment and business development remain a central part of the conversation on racial justice, Black solidarity, and generational wealth-building.

Join the Movement: Compete, Observe, or Partner in This Economic Revolution

The Madam Nselaa Ward, J.D. Black Business Pitch Competition is not just about business-it's about creating an unbreakable financial network that funds Black businesses internally, independent of outside approval.

• Are you an entrepreneur with a business idea that could change the world? Apply to compete.

• Want to witness Black innovation and support the next generation of business leaders? Attend as an observer.

• Interested in partnering, mentoring, or funding Black businesses? Collaborate with us for future pitch competitions.

For competition details, media inquiries, or sponsorship opportunities, contact:

Kelsha Sellars
404-410-0200
Kelsha@ninavafirm.com

For more information, visit:

www.nselaaward.com | www.ninavafirm.com

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SOURCE: Madam Nselaa Ward, J.D.