{"id":274751,"date":"2026-06-23T02:04:16","date_gmt":"2026-06-23T02:04:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/274751\/"},"modified":"2026-06-23T02:04:16","modified_gmt":"2026-06-23T02:04:16","slug":"latest-from-the-tsais-social-justice-fund-brooklyn-pitch-competition-450k-in-grants-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/274751\/","title":{"rendered":"Latest from the Tsais’ Social Justice Fund: Brooklyn Pitch Competition; $450K in Grants"},"content":{"rendered":"

Another installment in my ongoing coverage<\/a> of the Joe and Clara Tsai Foundation\u2019s Social Justice Fund, founded in the wake of George Floyd\u2019s murder and the #BlackLivesMatter protests in 2020 and promising $50 million in investment over ten years (but not quite proving it<\/a>). <\/p>\n

It\u2019s a case study in how to build local credibility, while staving off discussion of such things as public subsidies for a very successful business.<\/p>\n

The SJF recently launched a new initiative, the Brooklyn Pitch Competition<\/a>.<\/p>\n

It aims to help Brooklyn businesses \u201caccess the growth capital, strategic support, and connections they need to scale,\u201d offering a cumulative $450,000 in unrestricted grant funding, including a $150,000 grand prize and additional finalist awards ranging from $25,000 to $75,000.<\/p>\n

\"\"<\/a><\/p>\n

This seems to be a successor to the 2024 program Revitalize Brooklyn<\/a>, a grant program that, without public announcement of a competition, offered $50,000 each to 9 Brooklyn-based businesses in food and fashion. <\/p>\n

I wrote more about Revitalize Brooklyn in the article below.<\/p>\n

\"WhatWhat Has the Social Justice Fund Been Doing for Five Years? <\/a><\/p>\n

Unlike Revitalize Brooklyn, the Pitch Competition has an open call for applicants. It is also open to a broader range of businesses that earn between $1 million and $5 million in annual revenue and can demonstrate their ability to grow.<\/p>\n

Five to eight finalists \u201cwill pitch live in November at the Barclays Center and will receive more than funding,\u201d the announcement states, citing \u201caccess to investor introductions, capital matchmaking, strategic advisory sessions, and connections to procurement and growth opportunities.\u201d<\/p>\n

So some could do business with the arena, for example.<\/p>\n

Share<\/a><\/p>\n

Some commenters on Instagram<\/a> were critical, suggesting that it would help only those already successful.<\/p>\n

\u201cThis is a well meaning initiative that either fundamentally misunderstands what a small business is, or is specifically targeting those with multiple locations and\/or have taken on investment already,\u201d one wrote. \u201cI suppose it helps some people, but not the people\/businesses that need it most.\u201d<\/p>\n

There was no rebuttal posted, but presumably the Social Justice Fund could say that a previous program offered low-interest loans to a host of very small businesses, with no collateral required, as described in the link below.<\/p>\n

\"HowHow Has the EXCELerate Loan Program for BIPOC Brooklyn Businesses Worked?<\/a><\/p>\n

The press release<\/a> cites \u201cThe Social Justice Fund, founded by Clara Wu Tsai, owner of the New York Liberty,\u201d and states that \u201cClara Wu Tsai launched The Social Justice Fund in 2020 in Brooklyn to support economic mobility within communities across the borough.\u201d<\/p>\n

Such phrasing continues two obfuscatory trends I previously highlighted in my series<\/a>.<\/p>\n

\"\"<\/a><\/p>\n

First, it credits the initiatives to Clara Wu Tsai, not her husband Joe Tsai, whose business success led to their purchase of the Brooklyn Nets and holding company that includes the arena. <\/p>\n

\"IsIs Clara Wu Tsai Founder of the Social Justice Fund? No, but Claim Diverts from Joe Tsai and Alibaba<\/a><\/p>\n

It also highlights the WNBA\u2019s Liberty, who are in the middle of their season and have a record of success, unlike the floundering Nets.<\/p>\n

The focus on Clara Wu Tsai avoids discussion of her husband\u2019s business dealings in China and his support for the authoritarian government.<\/p>\n

Also, the emphasis on \u201ceconomic mobility\u201d downplays the role of race, showing an evolution in tactics as the national political scene changed. Initially, as I wrote in the article linked below, their efforts supported \u201cBIPOC Communities,\u201d but now it\u2019s just \u201cCommunities.\u201d<\/p>\n

\"TheThe Social Justice Fund Pulls Back on Race Talk, But Grantmaking Doesn’t Change Much<\/a><\/p>\n

That said, the image chosen for the program\u2019s webpage<\/a> shows two people of color, an Asian-American man and a Black woman.<\/p>\n

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Coverage June 2 in BKMAG dutifully stated<\/a>, \u201cThe initiative is a product of the Social Justice Fund, the organization New York Liberty owner Clara Wu Tsai founded to support economic mobility in the borough.\u201d<\/p>\n

To my surprise, the article included this not-so-typical disclaimer: \u201cBKMAG is owned by Brooklyn Sports & Entertainment, the company referenced in this article.\u201d <\/p>\n

The article actually didn\u2019t mention Brooklyn Sports & Entertainment, though it did cite the Liberty, a company. However, as I wrote<\/a>, the Social Justice Fund might be seen as an extension of the Tsais\u2019 overall business interests.<\/p>\n

I didn\u2019t see any other coverage, beyond the BKReader<\/a> (whose founder<\/a> has previously been honored by the SJF). Some previous programs launched with much more of a public relations push, as noted below.<\/p>\n

Also strategic: the recently announced Elevating Business Loan Program<\/a>, about which I wrote in May<\/a>.<\/p>\n

Though in partnership with New York State and two Asian-American institutions, the Asian American Foundation and Renaissance Economic Development Corporation, it\u2019s highlighted on the Social Justice Fund\u2019s homepage<\/a> with a photo featuring a Black man and a couple of people who are more ethnically ambiguous.<\/p>\n

\u201cThe Brooklyn Pitch Competition is part of the Social Justice Fund\u2019s ongoing commitment to the business community in Brooklyn,\u201d the new press release<\/a> states. \u201cThe fund has launched programs that make capital affordable for entrepreneurs, such as loan, equity, and grant programs.\u201d<\/p>\n

The umbrella of social justice is pretty broad, as I\u2019ve noted. <\/p>\n

How much does the new initiative differ from Ignite Brooklyn Made, a recent live pitch competition<\/a> for \u201cBrooklyn\u2019s most promising entrepreneurs,\u201d funded by Wells Fargo and administered by the Brooklyn Chamber of Commerce through its Brooklyn Made initiative<\/a>, which features local makers?<\/p>\n

It offers $300,000 in total funding, plus various ancillary services.<\/p>\n

\"https:\/\/bricartsmedia.org\/wp-content\/uploads\/2026\/03\/ignite_invite-Bklyn-Made.webp\"<\/a><\/p>\n

After ten finalists were selected and awarded $25,000 each, the consultant Progress Playbook designed<\/a> a program\u2014a business growth coaching curriculum, a pitch coaching track, a 10-slide pitch deck template, and a judging rubric for the competition\u2014to help them compete for additional growth capital: up to $25,000 for first place, $15,000 for second, $10,000 for third.<\/p>\n

It\u2019s worth noting how those Social Justice Fund programs have evolved. <\/p>\n

As I wrote, the EXCELerate loan program, aimed to help Brooklyn BIPOC businesses survive the pandemic, was a significant proof of concept, though the low interest rates made it unsustainable. As I wrote, the Social Justice Fund, curiously, does not promote the successor, EXCELerate 2.0.<\/p>\n

\"HowHow Has the EXCELerate Loan Program for BIPOC Brooklyn Businesses Worked?<\/a><\/p>\n

The other SJF program with significant hype was BK-XL, an accelerator aimed to boost BIPOC-led start-ups with equity funding. That program expired after two rounds, with the second less ambitious than the first.<\/p>\n

As I wrote, the brief time most of those start-ups spent in Brooklyn, as well as the presence of a good number of founders from afar, made it hard to claim that the program was helping the \u201cbusiness community in Brooklyn.\u201d<\/p>\n

\"TheThe Tsais’ BK-XL Accelerator Put $4M+ Into 17 BIPOC-Led Start-Ups. Was This “Wealth Creation in Brooklyn”?<\/a><\/p>\n

\u201cThrough the Brooklyn Pitch Competition, our goal is to elevate entrepreneurs who are actively shaping and strengthening the Brooklyn economy by expanding their access to growth capital,\u201d said Gregg Bishop, executive director of the Social Justice Fund, in the new press release. \u201cThis initiative is about more than funding. It\u2019s about unlocking opportunity, bettering our neighborhoods, and building a more equitable Brooklyn for everyone.\u201d <\/p>\n

Leave a comment<\/a><\/p>\n

The Pitch Competition guidelines cite these criteria:<\/p>\n

Be headquartered or primarily operating in Brooklyn<\/p>\n

Generate between $1 million and $5 million in annual revenue<\/p>\n

Demonstrate a clear growth strategy and strong potential for expansion<\/p>\n

Show evidence of innovation, execution capacity, and business momentum<\/p>\n

Contribute to Brooklyn\u2019s economy through job creation, local hiring, community impact, or neighborhood investment<\/p>\n

Be prepared to participate in a competitive screening process and pitch event if selected as a finalist<\/p>\n

Interested businesses have a three-month window to apply<\/a>, with the deadline Sept. 4.<\/p>\n