BrainTrust on Wednesday (Oct. 20) launched the Founders Studio, a tech-driven community platform that helps Black beauty and wellness founders continue the growth of Black businesses at a time when nine of 10 Black entrepreneurs don’t have enough investment or working capital.
The Founders Studio’s ecosystem will “create inclusive economic opportunities for Black beauty and wellness founders, increase business performance, build sustainable pathways for growth and unleash millions of dollars in untapped revenue from diverse consumers,” the announcement said.
JPMorgan Chase, Salesforce, Afterpay, BeautyUnited, Clearco and SHE Media are among the corporate sponsors that have brought $100 million into the Founders Studio program to solve business needs, provide marketing resources and supply the founders with financial growth tools.
“BrainTrust Founders Studio will forever alter the industry through its support of today’s Black beauty and wellness leaders with the vital resources and collaborations they need to propel their brands to the next level—and beyond,” said Kendra Bracken-Ferguson, founder of BrainTrust and Founders Studio, in the announcement.
“Whether I am building a brand with Halle Berry, Super Dope Q or Micha Brown, the same capital, resources, support and knowledge are needed,” she said. “It is the braintrust of advisors, coaches and mentors that will ultimately be the catalyst for sustained success. This community is built on the ideas that collaboration breeds creativity and that success for one leads to success for all.”
The Founders Studio platform will bring founders together with the resources and partners they need to create and grow their companies. Partners will offer mentorship, expertise and capital to participants.
JPMorgan Chase will offer professional financial guidance, wealth management, investor support and funding to Founders Studio members, while Afterpay will give them payment solutions, expertise in retail-focused financial strategies and marketing support across various channels.
The Founders Studio will launch with 25 beauty and wellness founders — including Brown Girl Jane’s Tai Beauchamp, CurlMix’s Kim Lewis, Lauren Napier Beauty’s Lauren Napier and Charbon Plus’s Lucien Aymerick Eloundou — before adding more members in January.
Related: NCR Donates $200K For Restaurant Recovery Efforts
In August, self-service kiosk and point-of-sale (POS) terminal manufacturer NCR Corporation announced a $200,000 contribution to nonprofit Elevate Together as part of an effort to support restaurant recovery among Black and Hispanic communities.
The money will fund cash grants to minority-owned businesses in the Atlanta area.
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