Kim Folsom, known as the "Queen of Capital," recently led Founders First CDC in hosting its inaugural 5K Pitch Competition for Minority and Women-Owned Business Enterprises (MWBEs) on November 19, 2024, at Rutgers University, Newark Campus, Ruth Bader Ginsburg Hall.
Under the emcee of Shaylon Scott, Executive Director of Founders First
(Photo: Kim Folsom)
CDC, the event aimed to empower MWBEs to thrive in Newark and the Tri-State area, aligning with the White House Initiative for Inclusive Entrepreneurship (IIE). “Our founder, Kim Folsom, has been the heartbeat of our organization,” stated Scott. “Her dedication, expertise, and vision have been transformative in guiding us to support small businesses effectively.”
The competition offered essential resources for MWBEs, including insights on securing capital, mentorship opportunities, and tailored training programs, fostering a supportive community among participants. To date, IIE has successfully secured over $177 million in loans and grants for underserved small businesses.
A highlight of the event was a Fireside Chat with Kim Folsom, who shared her 25 years of experience as a visionary impact investor. “Empowering minority and women-owned businesses is not just a mission; it is crucial for driving innovation and economic growth in our communities,” Folsom emphasized. “Events like the 5K Pitch Competition are vital for providing the resources and networks these businesses need to succeed.”
The event also included a recognition ceremony celebrating organizations that positively impact the community, alongside valuable networking opportunities with industry experts and fellow entrepreneurs.
Attendees had the unique chance to judge the competition, where David Lewis of MacroBites—a national Black-owned health food company—won a $5,000 prize for his compelling pitch. “Winning the pitch competition was a pivotal moment for our company,” Lewis remarked. “It validated our hard work and showed that our innovative approach resonates within the industry.”
Additional speakers at the event included Jeptha Stewart, NJ/NY Market Manager at TruFund; Earl Camp, EVP at Now Acct; Sharod Margan, CEO of United Building Maintenance; and Tiana Lipton from Women Elevating Women.
Founders First CDC remains committed to empowering the next generation of business leaders and supporting MWBEs in future competitions. Shaylon Scott noted, “This recognition from the pitch competition is just the beginning. We look forward to expanding our reach and making a significant impact in capital funding.”
About Kim Folsom
Kim Folsom is the driving force behind Founders First Capital Partners, Inc. (FFCP), where she has revolutionized growth capital access. With a focus on shared success, FFCP has secured $200 million in committed capital, establishing itself as a premier private growth funder for service-based enterprises. Notably, FFCP is the only women and minority-led, mission-driven alternative capital firm dedicated to empowering B2B/G, contract revenue-generating small businesses in underserved communities.
About Founders First CDC
Founders First CDC is dedicated to helping underserved entrepreneurs access the capital and resources necessary for success. Through innovative programs and community engagement, it empowers the next generation of business leaders.
About Women Empowering Women
Women Empowering Women is focused on creating a supportive network for women entrepreneurs and leaders, equipping them with the tools and resources they need to thrive.
For more information about Founders First CDC, visit here.
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