Brian Smith, the owner of Dragonfly Drones and Geospatial Solutions, has emerged as the winner of the Black Entrepreneurs Association (BEA) inaugural ‘Emancipation Pitch’ business competition and walked away with $2 million.
The competition was launched in June and aimed at providing Afro-Guyanese business owners, who are faced with a number of challenges, access to finance.
Following the launch of the pitch, Afro-Guyanese business owners were tasked with submitting a one-page business summary of their business proposal, which was reviewed by a panel of business experts.
The finalists were Sarah James of Cranium Krusherz STEAM Club, Brian Smith of Dragonfly Drones and Geospatial Solutions, Maishawn Wilson of Fruit Calypso and Earth Bistro, Anthony Willis of Innovation Consultancy, Joshua Trotman of Mantle GeoServices Inc, Deanna Walcott of Melyntea, Neil Barry of Positive Sports Medicine and Abeda Alexander of The Sea Moss Sanctuary.
The eight finalists were engaged in a business pitch training session conducted by Keon Smith of ActionInvest.
On August 5, at Herdmanston Lodge, the eight finalists went into the ring and made their pitch, with Smith emerging as the winner.
During an interview with Business Inspire, Smith explained that Dragonfly Drones was birthed at the height of the COVID-19 pandemic when he lost his job.
“I got the opportunity to borrow a drone, and because the controller was similar to a video game controller – I was able to operate the drone effectively and developed a love for the technology and its capabilities,” the businessman said.
He noted that preparing for the competition had entailed significant research to understand the product, its potential and the market.
“I was challenged to keep it in the 5-7 mins time frame but having benefited from coaching organised by the Black Entrepreneurs Association through Mr Keon Smith; I was guided on what were the elements that were pertinent. This, coupled with my wife’s vetting of my practice sessions (very harshly, I must say), I was able to keep it within the timeframe.”
Acknowledging that he was not confident of winning, the businessman said he placed his best foot forward and remained cautiously optimistic with the encouragement of his wife, Jasmin.
“I am naturally happy for the growth potential offered to my business, but I am also pleased by the support offered by the Black Entrepreneurs Association and their recognising the importance of capital to small businesses like mine to transition us to increase our scale.
It also ties into the philosophy of post-emancipation Africans who pooled resources to achieve their economic interests. This event allowed us to pay homage to those principles of our ancestors while playing our role in Guyana’s continued development.”
He noted that the funds would be critical in expanding his drone feet to offer professional precision drone services while offering the best technology to his clients at a better price point.
Smith has a little advice for small business owners who might be considering a business pitch competition.
“Since this is not my first pitch competition, the first words that come to mind are perseverance, keep at it – believe in your product and execute it with excellence sprinkled with confidence and enthusiasm.
It’s also great to utilise your support system whether it’s a spouse, partner or family – entrepreneurs need all the support we can get! But they can be the best test of if we are on the right track or not,” Smith concluded.