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Brown Girl Jane and SheaMoisture double down #BrownGirlSwap grant competition – Glossy

Created as a part of the better motion for inclusivity amid the racial reckoning of 2020, Brown Lady Jane and SheaMoisture are persevering with their grant program for Black magnificence founders for a second yr.

Introduced on Wednesday, this yr’s grant program is providing $150,000 to 12 Black feminine magnificence founders together with enterprise mentorship. Ten winners will likely be chosen to obtain $10,000, and two will obtain $25,000. The initiative is a part of SheaMoisture’s assist for Brown Lady Jane’s #BrownGirlSwap marketing campaign that launched final yr, which asks customers to swap 5 of their typical merchandise for these from BIPOC-owned manufacturers. 

“Funding is a matter, so we knew we needed to begin there,” stated Nia Jones, Brown Lady Jane’s co-founder and chief affect officer. With Black girls receiving less than 1% of VC funding, providing grants is “a part of the answer,” she stated. “We additionally know that, with funding, notably small companies want some help networking. All of these mentorship items [are needed] in an effort to actually leverage that grant.”

Whereas there have been requires extra startup funding for Black girls over the previous yr, they nonetheless solely obtain 0.34% of all U.S. enterprise capital, in keeping with Crunchbase. In 2021, startups with no less than one Black lady as a founder raised $494 million as of July, up from $484 million in whole in 2018.

“There may be nice worth in collaboration, mentorship and offering a supply of inspiration for Black feminine entrepreneurs. Nevertheless, with out the funding, many Black feminine entrepreneurs will face problem bringing their enterprise objectives to fruition,” stated Simone Jordan, world head of goal and model partnerships at SheaMoisture. “Companies, particularly these led by Black feminine entrepreneurs, want further funding assist as a result of they don’t seem to be as readily supplied this from monetary establishments or enterprise capitalists the identical manner their white friends are.”

Winners will likely be chosen by Brown Lady Jane, SheaMoisture, and a web based vote, and will likely be introduced on the #BrownGirlSwap Black Magnificence and Wellness Summit occurring October 14-16. “We didn’t need it to be simply our choice,” stated Jones. “We wish to make it possible for the group and prospects have their say.”

Manufacturers with income below $1 million are invited to use. Candidates will likely be evaluated for innovation, group, social affect and worth proposition. Final yr, the grant program provided $250,000 to a complete of 16 founders, selecting 10 winners to obtain a grant for $20,000 and providing $5,000 to the remaining recipients. The 2020 program acquired over 1,000 entries in 2020.

For the mentorship portion, Brown Lady Jane is providing recommendation as a rising startup with $2 million in income and a current launch in Nordstrom, with two further retail launches deliberate. A number of winners from the 2o2o grant have subsequently secured new retail partnerships. Make-up model Vary Magnificence launched in Goal, whereas skin-care model Base Butter launched at Macy’s.

The #BrownGirlSwap marketing campaign can be persevering with, which is “extra about altering a mindset the place individuals can notice how straightforward it’s to actually shop various and purchase manufacturers that you simply perhaps wouldn’t even learn about,” stated Jones.

https://www.shiny.co/magnificence/brown-girl-jane-and-sheamoisture-double-down-browngirlswap-grant-competition/ | Brown Lady Jane and SheaMoisture double down #BrownGirlSwap grant competitors – Shiny

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