*“Shark Tank” investor and FUBU founder Daymond John has announced Black Entrepreneurs Day, a free and virtual event that will celebrate Black entrepreneurs.
John aims to “inspire” and provide guidance to Black business owners via the livestream, scheduled for Oct. 24. John will be leading the conversations that will include advice and insight from top business leaders and celebrities, including Shaquille O’Neal, Gabrielle Union, Jamie Foxx, LL Cool J, BET’s co-founder Robert Johnson, Chase Bank’s Global Head of Diversity and Inclusion Brian Lamb.
“I hope they see Bob Johnson, who created BET, who inspired LL Cool J to become who he is. I hope they also hear and see how Shaquille or Gabrielle have failed and how I have failed and overcame those obstacles,” John tells PEOPLE. “We’re human beings, and you can be also greater than us if you take away some of these key things and just start applying yourself.”
Black Entrepreneurs Day will award $175,000 through six NAACP Powershift Entrepreneur Grants during the event. The grants will be divided into seven $25,000 checks.
Applicants can apply for the grant on BlackEntrepreneursDay.com until Oct. 12. The winners will be announced at the event.
READ MORE: ‘Shark Tank’ Star Daymond John Denies Trying To Sell Face Masks At Inflated Prices
Excited to announce the FIRST EVER ‘Black Entrepreneurs Day’ a celebration of black business, presented by @ChaseforBiz.
Tune in October 24th to be part of history #BlackEntrepreneursDay @BlackEntrepDay https://t.co/FmclRhRll5 pic.twitter.com/MacN0tvcNT
— Daymond John (@TheSharkDaymond) October 6, 2020
John’s advice for hopeful grant recipients is to “work on your pitch, get it in now.”
“I like to say that you should be able to put your pitch down on the back of a business card. You want to be able to hone in on that pitch and send it in. Keep practicing. Don’t do some little video. Keep cutting that thing down and really understand how you’re adding value to that pitch,” he tells PEOPLE.
John says the concept of Black Entrepreneurs Day came after he and his team were inspired to make a change.
“People are out there burning businesses instead of building them,” he says of the violence that erupted at many peaceful protests following the police killing of George Floyd in Minneapolis in May.
“As frustrated as people are, or as hurt or as upset, or people feel like they just don’t have power — this is the opportune time,” he says. “Maybe they don’t have a job or they don’t have to go to work … they can now spend that extra time empowering themselves and doing what they want to do to create change.”
John says the goal of the event is to encourage Black business owners and entrepreneurs.
“I always want to provide a space for that, but I’ve always wanted to provide it for everybody,” he says. “I mean, we can all just have conversations that hopefully are constructive, but how many people are having conversations right now that are giving you piece-by-piece information on how to go out there and change your life right now?”
Black Entrepreneurs Day will go down Oct. 24 at 7 p.m. ET on Facebook, YouTube and Twitter.
