Pitch Competition Winner Jacquelyn Rodgers Shares Her Story

According to a recent report by Harvard Business Review, Black women are the fastest growing demographic of entrepreneurs in the U.S. With 17% of Black women in the process of starting or running new businesses, compared to just 10% of white women and 15% of white men, Black women are embracing entrepreneurship at historic rates.

While encouraging, Black business owners also face a disproportionate number of challenges on the path to running profitable businesses. In fact, only 3% of Black female entrepreneurs continue on to run mature businesses after starting their venture. The primary reason for dropoff? Lack of access to capital.

This is why Capital One believes it's important to foster wide-scale, intentional support of underserved businesses year-round.

Last year, Capital One partnered with Boss Women Media for the third annual Black Girl Magic Summit and Pitch Competition. The Pitch Competition awarded grants totaling $50,000 to the top three finalists out of a pool of more than 5,000 submissions. Our partnership with Boss Women Media emerged as an extension of Capital One's Impact Initiative, a multi-year commitment which invests in marginalized communities and businesses, and supports organizations that expand economic opportunity.

In anticipation of this year's Black Girl Magic Summit and Pitch Competition, we sat down with 2021's third place winner and Founder of Greentop Gifts, Jacquelyn Rodgers, to see how Capital One's grant money is helping her grow her gift wrap business.

And, for this year's Pitch Competition, we're upping the ante, providing $100,000 in grants to three Black women-owned businesses. Applications will be accepted between now and August 12, 2022. Submit your application today!