VERMONT SLAUSON ECONOMIC DEVELOPMENT CORPORATION (VSEDC) AWARDS $25,000 GRAND PRIZE TO SOUTH LOS ANGELES ENTREPRENEUR DURING ITS FIRST ANNUAL GRAND PITCH COMPETITION

With sponsors including First Citizens Bank, Citi, Comerica, and more, the competition provided cash prizes and the capital that businesses need to thrive

LOS ANGELES, Dec. 23, 2024 /PRNewswire/ -- Vermont Slauson Economic Development Corporation (VSEDC) awarded a $25,000 Grand Prize to All Chill Ice Cream during its inaugural Grand Pitch Competition held on Saturday, November 9, 2024 at Centrl Office in El Segundo, California. Connecting South Los Angeles entrepreneurs to the capital that they need to thrive, VSEDC's pitch competition featured thrilling presentations from business owners tasked with convincing celebrity judges and experts that their business has what it takes to soar.

"I'm excited about the number of people who have gone through our business training at Vermont Slauson to qualify as an applicant for the pitch competition," said Quentin Strode, President & CEO of VSEDC. "I'm hoping this event opens doors for our businesses this year and the coming years leading more people to join our programming."

Statistics show that Black entrepreneurs and other entrepreneurs of color face tremendous obstacles when it comes to accessing capital. As an advocate for those who have been historically disconnected from the opportunities that all people need to succeed, VSEDC offers free one-on-one business coaching, year-round business cohorts, workshops, affordable small business loans, and much more as they guide entrepreneurs at every stage of the journey. Open to businesses who completed one or more of VSEDC's programs over the past two years, the competition also awarded a Second Place $15,000 prize to IGL Nails, and a Third Place $10,000 prize to Liberated Eyewear, Inc.

"Winning this prize allows us to upgrade our equipment," said Genelle Brooks-Petty, co-owner of Leimert Park based All Chill Ice Cream and Grand Prize winner. "We can double our production with the same team that we have, with just one new machine that we can purchase with this prize."  

In partnership with First Citizens Bank (Grand Prize sponsor), Citi (Second Place sponsor), Comerica (Third Place sponsor), Citizens Business Bank, and US Bank, the competition featured judges from traditional lending institutions, industry professionals, and investors who provided live feedback after each pitch.  Selected from a field of 40 small business clients, five businesses participated in the competition—bravely facing direct and constructive critique provided by the judges.

"This is just the beginning of something magical for South LA," said Strode. "Our communities are full of deserving entrepreneurs who simply need coaching and a platform. As our pitch competition evolves, we look to increase the number of prizes awarded and the amount with the help of sponsors who share our vision for stronger communities."

Interviews with VSEDC's CEO and Pitch Competition Winners Available Upon Request.

About VSEDC
For more than four decades, VSEDC has facilitated community development of the South Los Angeles area by providing programs that revitalize the physical, economic, and social life of the community. A newly-designated Community Development Financial Institution (CDFI), VSEDC has developed and implemented a comprehensive approach to community economic development that includes business development, access to capital, technical assistance and training, residential housing, commercial, and industrial development. Founded by the late Marva Smith Battle-Bey in 1981, VSEDC works to create a South Los Angeles with strong neighborhoods and thriving communities. To learn more, please visit www.vsedc.org.

About Genelle Brooks-Petty, Co-Owner of All Chill Ice Cream
Genelle Brooks-Petty is co-owner of All Chill, a community-centered artisanal ice cream manufacturer, scoop shop, and caterer based in the historic Leimert Park neighborhood of Los Angeles. She is a graduate of Howard University's School of Business, and she holds a Master of Interior Architecture from the UCLA Extension/ California State Polytechnic University, Pomona joint study program. She is an associate member of multiple architecture and design organizations including AIA, SoCal NOMA, and AWA+D. She currently serves on the boards of SCOPE-LA (Strategic Concepts in Organizing and Policy Education), BOOCLT (Black Owned and Operated Community Land Trust), Creative Types as well as the Marina del Rey Design Control Board. Genelle is also the principal designer of BPC Interior Design, a Los Angeles-based design firm servicing institutional, contract and residential clients. Her work bridges gaps as she aims to foster community development through design. Visit All Chill Ice Cream at https://www.allchillinc.com.

SOURCE Vermont Slauson Economic Development Corporation