Feb 19, 2016 10:06 AM EST
RediFit, a fitness startup and medical device developer, wins PowerMoves Miami Demo Day 2016. The tech startup develops custom knee sleeve with real time tech that monitors engagement and impacts in action. The technology helps athletes or regular Joes to avoid injury.
PowerMoves Miami Demo Day 2016 has been held on Wednesday at the Fontainebleu Miami Beach. The day has been watched to honor 16 early stage entrepreneurs of color pitch in front of live audience of 75 people and panel of 5 judges, reports South Florida Business Journal.
The presentation has covered almost every aspect of modern living. The platform has also represented transformation of social networking events easier to navigate even an algae producer working to combat food shortages, according to a report published in Florida Venture Sourcing.
Only 24 out of more than 10,000 venture deals sealed from 2012 to 2014, are led by black women entrepreneurs, suggests a recent study. A very few of them have raised average funding amount of $36,000 required to be considered eligible for competing in PowerMoves Miami Demo Day. However,Miami Herald has sketched black women to represent the fastest growing group of entrepreneurs in the US citing a report on Project Diane by Digital Undivided.
Launching in 2014, PowerMoves appears as an accelerator and incubator in New Orleans to help entrepreneurs of color. It helps to grow their startup ideas, capable of scoring investor attention and capital, into businesses. The organization has been founded to connect entrepreneurs of color with potential investors and to help overcome barriers to tech-entry.
PowerMoves has started its journey with investments of $1.2 million from John S. and James L. Knight Foundation. The February 15-17 conference has been held in collaboration with Black Tech Week. The conference at the Fontainebleu also aims to announce inauguration of PowerMoves' second office in Miami.
Kurator, Tasqr, Konveau, Airfordable, Bae, Jeffrie, Jurnid, Idias and other entrepreneurs have enrolled to take part in a six week remote boot camp. The boot camping has been followed by intensive interviews during the conference but before the pitch day.
The goal of the demo day has been described as to award a check for $25,000 to the winner nominated by a panel of judges. RadiFit has gone home with the check of winning money this year.
Starting journey in 2014 with $1.2 million fund from John S. and James L. Knight Foundation, PowerMoves honors tech startups from black entrepreneurs. PowerMoves, appear to be in expansion mode, awards RediFit, as this year's winner, through a conference held at Fontainebleu followed by lengthy nomination process.
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