Three Black women entrepreneurs could be on the fast track to success after receiving grants from Capital One Business for a pitch competition.

The trio received the grants at the fifth annual Black Magic Reimagined 2023, an event created by Boss Women Media and Elle Olivia founder Marty McDonald to inspire and ignite entrepreneurs.

Recipients are as follows: Felicia Jackson, founder of CPRWrap, won $50,000; Ehime Eigbe, founder of Sweet Kiwi, a frozen yogurt company, won $30,000; and Brittany Coleman, founder of Tough Cutie, a hiking apparel company, won $20,000.

“Empowerment of Black women can’t stop with telling them a very unique and inspiring story,” McDonald told AfroTech. “The empowerment of Black women is a 360-degree approach to making sure that they are well-rounded with tools and resources to truly propel themselves forward.”

“Securing the $50,000 first-place pitch investment from the Black Magic Reimagined Summit and Capital One is a validation of our mission but also a powerful catalyst for CPRWrap’s continued growth and impact,” Jackson told AfroTech.

CPRWrap offers an easy-to-use CPR tool for non-medical responders, caregivers, new parents, and business owners.

She was inspired to launch the company after almost losing her son in an emergency. Her company website claims that when her baby stopped breathing, she “panicked” and “froze” and lost consciousness before she could remember how to perform CPR.

“We aim to collaborate with schools, community organizations, and healthcare providers to ensure that CPRWrap becomes a standard tool for emergency response,” Jackson told AfroTech. “This investment is not just a financial boost; it’s a vote of confidence in our mission and a catalyst for greater impact. We are excited about the future and the positive change we can bring about together.”

Jackson added that the investment will support educational initiatives and extend the reach of CPRWrap to more individuals, community organizations, and schools.

“Specifically, with us and the pitch competition, winning $50,000, $30,000, and $20,000 can be monumental to change your business. That’s the amount of funds we’re giving out today on behalf of Capital One,” McDonald told AfroTech.

Meanwhile, Eigbe, founder of Sweet Kiwi, celebrated a big year for her business. Earlier this year, the entrepreneur appeared on ABC’s Shark Tank and struck a deal with shark Robert Herjavec for $250,000 for 16 per cent of the business. Kevin O’Leary was in the running but abruptly pulled his offer for $250,000 for 20 per cent.

Soon after quitting her job as a bankruptcy specialist at Citi Group, she developed the idea and opened various brick-and-mortar locations in Lagos, Nigeria, where she is from.

Sweet Kiwi’s founders moved to Texas in 2019 after achieving more than $2 million in lifetime sales in Africa. Today, it sells six frozen whipped Greek yogurts packed with nutrients like protein, probiotics, fibre, and immune-boosting superfoods. The brand is available in over 2,000 stores, including Whole Foods, Walmart, Kroger Co. and more.

And for Coleman, founder of Tough Cutie, the third place nod is another boost for the company, which was part of speech REI Path Ahead Ventures 2023 cohort program, Navigate, in which entrepreneurs received $25,000 for participating in the program.