MIAMI, Feb. 4, 2016
/PRNewswire/ -- Libra Group, the privately owned diversified
business group with 30 subsidiaries active across six continents,
has announced that its inaugural American Entrepreneurship Award
(AEA) is now open and welcomes start-up businesses and
entrepreneurs to apply by submitting their business plans at the
AEA website, www.americanaward.com. The AEA will initially focus on
two communities facing a disproportionate lack of opportunity
compared with the rest of the USA:
the Bronx, New York and
Miami-Dade County, Florida. Award
entries can be submitted online through 29
April 2016 and winners will be announced in June 2016.
Launched in October 2015 with an
initial $500,000 commitment from
Libra, the AEA will provide winners with business start-up funding
as well as mentorship and a range of business support services that
will help winning businesses get off to a strong start. The Group
was inspired to create the award when it became a founding sponsor
of the My Brother's Keeper Alliance (MBK Alliance), a nonprofit
organization launched by President Obama aimed at eliminating
opportunity and achievement gaps for boys and young men of
color.
"Far too often, entrepreneurs are unable to successfully launch
businesses primarily due to lack of capital. The Libra Group's
American Entrepreneurship Award represents a breakthrough for small
business incubation, presenting opportunities and pathways to
success for entrepreneurs," said Joe
Echevarria, CEO of the MBK Alliance. "The MBK Alliance is
proud to work with Libra Group and is committed to giving emerging
entrepreneurs the resources they need to succeed."
The Libra Group has considerable experience operating
entrepreneurship awards targeted at communities in need. During the
unprecedented economic downturn in Greece, the group created the Hellenic
Entrepreneurship Award (www.hellenicaward.com), now in its fourth
year of operation. Since its formation, the winning businesses have
created many hundreds of jobs and are making a direct contribution
to the Greek economy. The AEA will be run along the same principles
of its highly successful Greek counterpart.
"At Libra, we have seen firsthand what can happen when an
underdog is given the right opportunities to rise despite the
odds," said George Logothetis,
Chairman and CEO of the Libra Group. "The launch of the AEA is a
symbol of our continued commitment to providing this kind of
opportunity – a hand up, not a hand out – and we are thrilled to be
collaborating with the MBK Alliance and our other program partners
to help budding entrepreneurs turn their ideas into action."
On 4 February 2016 entrepreneurs
and start-up businesses were invited to learn more about the
American Entrepreneurship Award at an event held at the IDEA Center
at Miami Dade College, an AEA
programming partner. Event participants included Alonzo Mourning, MBK Alliance board member and
former NBA player, as well as Daymond
John, MBK Alliance Ambassador, AEA judge, CEO & Founder
of FUBU, and a Presidential Ambassador for Global Entrepreneurship.
Audience members also heard from previous winners of the Hellenic
Entrepreneurship Award.
In addition to the MBK Alliance and the IDEA Center at
Miami Dade College, other partners
who have pledged to provide mentorship and support services in the
Miami area include the Miami
Herald, Shark Branding and Total Bank.
Application Details and Eligibility
The American Entrepreneurship Award is open to entrepreneurs in
the two nominated regions whose business plans exhibit
sustainability, financial prudence and innovation, while accruing
revenue and creating jobs predominantly in Miami-Dade or the Bronx. Entries are encouraged from individuals
or groups with no previous business experience, or from existing
unlisted companies which can show that they have an all-new
business concept which is not related to their core activities and
cannot be funded through existing resources.
The closing date for applications is 29
April 2016 and a list of finalists will be published on the
American Entrepreneurship Award website by the end of May. During
June 2016, the two winners will be
announced based on careful scrutiny of the merits of each
application. Winning businesses will receive an interest-free loan
of up to $25,000. Business support
offered to winners includes legal, accounting, communications and
IT consultancy services. Each winner will be assigned a mentor who
will provide advice and guidance throughout every stage of the
business start-up. The support and mentoring for winners will be
provided by the Libra Group and other supporters of the
program.
To learn more about and apply for the American Entrepreneurship
Award, please visit www.americanaward.com.
About The American Entrepreneurship Award
The American Entrepreneurship Award was launched in 2015 as an
annual award with a $500,000 funding
commitment by the Libra Group. The award was established to support
start-up businesses and entrepreneurs by providing funding,
mentorship and a range of business support services to help their
ideas get off to a strong start. The program was inspired by
the Libra Group's commitment to the My Brother's Keeper Alliance
(MBK Alliance) and will initially focus on two communities facing a
disproportionate lack of opportunity compared with the rest of the
USA: the Bronx, New York and Miami-Dade County, Florida.
About Libra Group
The Libra Group is an international business group comprising 30
subsidiaries active across six continents. The group has principal
operations in shipping, aviation, real estate, hospitality and
energy as well as a range of diversified investments. The group's
Social Responsibility division undertakes numerous education,
entrepreneurship and philanthropic initiatives globally including
the Libra Internship Program which supports around 100 young people
per annum, many of whom come from communities exhibiting
opportunity and achievement gaps. The Libra Group is owned by the
Logothetis family. For more information, please visit:
www.libra.com.
About MBK Alliance
My Brother's Keeper Alliance ("MBK Alliance") aims to eliminate
the gaps in opportunity and achievement for boys and young men of
color – making the American dream available to all. MBK Alliance is
an independent, nonprofit organization created to advance progress
in the private sector, and catalyze a national ecosystem of support
to help boys and young men of color recognize their full potential
through strategic evidence-based interventions. MBK Alliance is a
sponsored project of Rockefeller Philanthropy Advisors.
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SOURCE Libra Group