BBIF Awards $50K To BIPOC-Owned Startups

$25,000 First Place Winner, Founder: Stan Laconte, Startup: MoneyLit App
$15,000 Second Place Winner, Founder: Charles Simmons, Startup: Legacy Cafe at West Lakes
$10,000 Third Place, Founder: Milery Honore, Startup: Big Dawg Training Camp

ORLANDO – Black Business Investment Fund (BBIF), in partnership with SouthState Bank, awarded $50,000 in grant funds to the top three winners of its 2023 Reverse the Red™ pitch competition during an award ceremony.

Stan Leconte, owner of MoneyLit, is a Certified Financial Planner with over 16 years of experience in the financial services industry. Stan was recognized as one of “South Florida’s Most Powerful and Influential Black Professionals” and an honoree of “Black Men of Excellence. He serves as the Founder and President of IAA Private Wealth Advisors located in Ft Lauderdale. MoneyLit is a financial literacy and budget app providing financial education to teenagers and young adults.

Charles Simmons is the founder and CEO of Legacy Café. He is a visionary leader in the food and beverage industry, and has gained the respect of his colleagues as he traveled and managed multiple food chains from coast to coast. Legacy Café is a casual, family-friendly restaurant serving downtown Orlando’s historic West Lakes community.

Milery “Coach Mil” Honore is an accomplished fitness trainer and founder of Big Dawg Training Camp. At Big Dawg Training Camp, Coach Mil provides a supportive and motivating environment to help clients achieve their fitness goals and improve their overall health. Coach Mil has over a decade of experience in the fitness industry and is dedicated to helping his clients achieve their full potential.

About the #Reverse-the-Red Competition

BBIF’s Reverse the Red™ pitch competition gives Black-owned startups an audience for their ideas and an avenue to receive valuable feedback and advice from major players in their field. The competition also allows potential investors to pre-vet startups.

Black-owned businesses have been suffering for decades.

Systemic redlining is a disease that has been used to exclude the Black community from the critical resources required to start, grow, and scale viable businesses.

We are calling on organizations who are prioritizing economic equity to support the Reverse The Red Initiative and uplift underserved businesses. With your charitable contribution, you will be providing BIPOC entrepreneurs with equity not linked to debt and providing financial literacy & financial education to BIPOC businesses.

Join us as we #ReversetheRed by granting dollars directly into Black-owned businesses.

Systemic redlining has resulted in a jarring wealth divide.

White family wealth is 10X greater than that of Black families.

Reverse the Red is Powered by BBIF.

In 1980, a state of racial unrest spread across Miami and surrounding communities. As a result, a powerful social justice movement formed which helped raise awareness around the systemic disenfranchisement of the Black community. Leaders across the communities took action to seek justice to reform the economic gap.

Black Business Investment Fund (BBIF), a non-profit financial institution, was created to address that economic gap, and spearhead the advancement of Black businesses across the state of Florida.