The founders on this season of “Bet on Black” all go home with money. The Revolt series, sponsored by Target, has dropped its single grand prize: every participating entrepreneur now receives a share of a $500,000 growth fund, and none of them gives up equity.
“Every founder gets funded,” Revolt CEO Detavio Samuels said, “and they keep 100% of their equity.” The sixth season is built around founders connected to historically Black colleges and universities, with Howard University, Morehouse College, Spelman College and Clark Atlanta University among the schools named. It airs Mondays at 9 p.m. ET on Revolt, and streams on Revolt’s website and YouTube.
The change matters because of how the format worked before. Earlier seasons pitted entrepreneurs against each other for one prize, so most contestants left with exposure and nothing else. Revolt says winners have received more than $2.69 million in funding since the first season, and that the show has supported more than 50 young founders. Target puts its own total at nearly $3 million over six seasons.
Access to capital is the problem the show was built to address. “Black entrepreneurs don’t have a shortage of talent, ideas, or ambition,” Samuels said. “They have a shortage of capital.” Revolt says Target takes no stake in the businesses.
Actor Marsai Martin hosts. The mentors are Ryan Wilson, co-founder of The Gathering Spot; designer Brandon Blackwood; venture capitalist Jewel Burks Solomon; financial expert Ashley M. Fox; and podcast host Reginae Carter. Kenya Barris is an executive producer. Revolt says the production is filmed in Atlanta with a crew that is 90% Black.
The $500,000 is small next to what a startup raises in a typical venture round, and the sources do not say how it is divided among founders. What they do establish is the terms: money for every contestant, and ownership left with the people who built the businesses. New episodes air each Monday.
Have your say