Meda and JPMorgan Chase award $25,000 at the Minnesota Cup
PAUL, Minn. (September 22, 2020) – The Metropolitan Economic Development Association (Meda) and JPMorgan Chase have awarded Pikup the Innovative Minority-Led Business Prize of $25,000 as part of the Minnesota Cup. For five years, JPMorgan Chase and Meda have collaborated to offer the prize to minority-led division finalists at the Minnesota Cup. Past winners of the prize include Phenomix Sciences, ASIYA Modest Activewear, UnderRecruited Preps and HabitAware.
“I am excited to award the $25,000 JPMorgan Chase / Meda Innovative Minority-Led Business to Pikup,” said Barbara Butts Williams, Chair of Meda’s Board of Directors. “Our goal is to provide additional incentives for BIPOC-led businesses to enter in the Minnesota Cup. We also want to invest needed capital in these innovative businesses. This is an important competition and we are so proud to be involved.”
All minority-led finalists of the Minnesota Cup were invited to participate in a private pitch event to Meda’s business consultants, lenders and staff. From there, two finalists were chosen to do a final private pitch to JPMorgan Chase leaders and Meda’s Board of Directors. A total of eight minority entrepreneurs pitched the panel this year.
“Encouraging BIPOC entrepreneurs is as vital today as it ever has been,” said David Rudolph, Managing Director, Commercial Lending for Chase. “Oftentimes there is a gap between talent and opportunity. Teaming with Meda and MN Cup has helped bridge that gap and support Minnesota’s BIPOC entrepreneurs and businesses. We’re confident this year’s entries will reflect the thriving entrepreneurial community in the Twin Cities.”
Pikup was awarded the Minnesota Cup Award on September 22. University of Minnesota alumni founded Pikup with the goal of bringing communities together by connecting neighbors already out running errands with those that need something. The company works to encourage community in neighborhoods while also helping people save money during their shopping trips to local stores.
About the Metropolitan Economic Development Association (Meda):
Meda provides business consulting, access to capital and market opportunities for minority entrepreneurs. Meda also operates a business development center under cooperative agreement with the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce. The Minneapolis MBDA Business Center connects Minnesota Minority Business Enterprises (MBEs) with business opportunities and has been recognized as the top performing center in the country from 2016 -2019. For more information, visit meda.net.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
PDF Press Release: MN Cup Release Final