Teacher Sarah Adams raised $5,000 from her husband’s retirement savings in 2015 to start a side business selling rum cakes made by her Jamaican grandmother. Soon she started a company, handing out samples at markets and street festivals. Miss Maxone can at a time.
But when the pandemic disrupted his growing business in 2020, Adams, who lives in public housing in northern Manhattan, had to change course. Adams, who teaches remotely, used the money she saved from commuting to experiment with recipes for vegan muffins, low-sugar cookies, and low-carb pizza.
A few months ago, Adams received a newsletter from her landlord, the New York City Department of Housing, announcing a new competition for entrepreneurs living in public housing. Prizes up to $20,000 and free business development classes were offered.
“I thought it was fake,” Adams said. She called the Housing Authority to confirm it was genuine.
Adams, 47, owns one of nine NYC Boss Up winning businesses.shark tank‘ style competition, inviting some of the city’s poorest residents to submit business ideas for further development and funding. A total of 279 applications were received, and 23 were selected for the final screening. The entrepreneurs pitched their business plans at Brooklyn’s Central Library in March and answered questions from a panel of judges.
The Boss Up program received a $1 million grant from the Family Foundation for five years. Ron Morrisproperty developer who got the idea after reading 2022 Report by Urban Future Center, non-profit organizations. The report highlighted untapped opportunities to boost entrepreneurship among social housing residents.
“It’s really hard to start a business in New York City,” Moeris said. After selecting the winning entrepreneur, he met with the losing finalists to provide feedback and encourage them to try again next year.
Moeris helped develop the Boss Up program with NYCHA, which provides free business programs to residents and other partners. Foundation FJC The person who managed the payment of the prize.
Applicants to the Boss Up program must live in one of NYCHA’s development areas, which are home to approximately 368,000 residents throughout New York City, or receive federal rent assistance through a Section 8 program. . One-time benefits do not count toward family income used to calculate rent.
One of the winners, Valeria Ortiz-Martínez, 18, of the Dickman mansion in Inwood, found the contest flyer in the lobby. She turned the idea of a customizable digital business card that looks like a credit card and lets you transfer information with a tap on your phone into a business. connect tap.
Other winners, like Adams, were already running small businesses but needed help to reach the next level. She plans to use her $20,000 to introduce a line of healthier baked goods and focus more on marketing.
Another winner, Kat Perez, has started a business. Cat D Productions, in 2019, produced with video equipment borrowed from her alma mater, Mount Saint Vincent University, which was also her first client. While attending there, Ms. Perez and her friend made two videos of her students defining slang. Together, these videos have racked up her over 6 million views.
Since then, Perez has shot over 50 videos and earned $38,300 last year. “I felt like I finally had a platform to grow my business, but I didn’t have the capital or the resources,” said Perez, 25, who lives with her mother in the Bronx.
Perez said he plans to use the prize money to hire an assistant, buy additional video equipment and promote the company on social media.
The company was founded by Daniel Wool, Trusted technology for digital designIn 2022, it plans to spend $20,000 on diversification and marketing of the company, which will pay volunteers to test the company’s hardware and software systems. “It was the seed of a business,” said Wool, 45, of Grant House in Morningside Heights. “I think they really pushed me forward.”
For Harlem artist Michael Watson, winning the contest is an opportunity to build an art business. Fable Jones Studio.
During the pandemic, Watson began painting more and amassed enough money to open a gallery in Bushwick, Brooklyn, in 2020. There, Watson, 35, exhibited her watercolors, along with works by other local artists and musicians. And most of the performers were people of color.
However, the gallery had to close after a year because the landlord rented out the space to others. Watson plans to reopen at another location. But for now, he’s weighing all options.
“I haven’t spent a penny yet because I want to make sure my plan is the best plan,” he said. “I don’t want to make mistakes.”