January 24, 2022 – Hornets Sports & Entertainment (HSE) today announced that it is now accepting applications for the second Hornets Innovation Summit, an initiative launched last year in conjunction with its Social Justice Platform to support economic mobility in Charlotte, and that Bank of America has become the presenting partner of the program. Building on the success of last year’s inaugural event, the 2022 Hornets Innovation Summit Presented by Bank of America aims to increase social and financial capital for minority entrepreneurs and businesses/groups that are at least 51% operated and controlled by minority group members (i.e., individuals who are at least 25% Asian, Black, Hispanic or Native American) that are located within 150 miles of Spectrum Center, with one applicant receiving a $15,000 investment from the Charlotte Hornets.
Applications are available now at hornets.com/innovation-summit and will close on Thursday, February 10. Applicants that are selected to move on to Round 2 will have their one-minute pitch videos posted on hornets.com and social media outlets for fan voting. The four finalists, which will be determined through a combination of fan voting and an internal Hornets selection committee, will present their business and/or product live to a panel of experts in March.
“We are excited to host the Hornets Innovation Summit again this year, and to have Bank of America involved in a much greater capacity,” said Hornets President & Vice Chairman Fred Whitfield. “We had so many impressive applications last year, so we are excited to see this year’s pitches. We’re especially proud that this initiative directly addresses barriers that so many minority entrepreneurs and business owners face, and that all applicants will get complimentary access to great business resources.”
"We are honored to join the Charlotte Hornets in improving the economic progress of minority small business owners," President of Bank of America Charlotte Kieth Cockrell said. "Supporting small businesses is one of the four key focus areas of our $1.25 billion commitment to advance racial equality and economic opportunity. We’re helping to level the playing field and open more doors for minority led businesses, entrepreneurs and innovation."
As part of the Hornets Innovation Summit, HSE is once again partnering with The Lonely Entrepreneur, a national nonprofit that provides current and aspiring entrepreneurs with knowledge, tools and support to grow businesses. Each applicant will receive one year of free access to the Lonely Entrepreneur Learning Community. Those who advance to the second round will also receive access to three group Better Money Habits® coaching sessions, provided by Bank of America, which aim to help participants achieve their banking and financial planning goals with free, easy-to-understand tools and resources.
Last year’s inaugural Hornets Innovation Summit received nearly 150 applications, and after nearly 50,000 total fan votes and a final pitch to a panel of judges, South Carolina-based entrepreneur Brandi Long was announced as the winner for her venture known as The Jurse. Short for jacket-purse, The Jurse transitions from a jacket to a purse, or vice versa, in less than 30 seconds, which Long describes as “fashion meets convenience.” In the week following the announcement of the winner, Long experienced an 88 percent increase in sales and an increase of more than 150,000 percent in website visits.