02.01.24
Tarte Cosmetics has announced its Second Annual Shape Your Future Small Business Awards.
The program will grant $300,000 to Black female entrepreneurs starting in National Black Business Month in August.
The program will grant $300,000 to Black female entrepreneurs starting in National Black Business Month in August.
For over two decades, Tarte's mission has been rooted in empowering and supporting others. With this announcement, Tarte says it’s doubling down on those efforts to directly support the larger entrepreneurial community.
Acknowledging that less than 1% of venture-backed capital currently reaches Black-owned businesses, and a mere 0.34% of total capital spent in the US is directed to Black female startup founders, Tarte recognized the importance of dedicated financial support and growth resources, driving the brand's commitment to support Black female entrepreneurs now and into the future.
The Shape Your Future Awards will empower and create pathways to accelerate the advancement of Black female-owned businesses, the brand says. The $300,000 in awards will be funded equally, with Tarte contributing $150,000 and Tarte Founder and CEO Maureen Kelly personally pledging an additional $150,000. Kelly's own experience building Tarte from the ground-up fuels her desire to pay it forward.
"I'm grateful to everyone who helped me along the way, and that's why lifting up other entrepreneurs is so important to me," said Kelly. "Supporting Black small business owners is one way to help shape a more inclusive, equitable and thriving business landscape."
Program Benefits and the Tarte Labs
The program will offer two tiers of funding for applicants, six awards of $25,000 and 15 awards of $10,000 each – tailored to the unique needs and sizes of the selected small businesses. Beyond the monetary award, each recipient will receive ongoing, exclusive mentorship with key Tarte executives across departments including, finance, legal, supply chain, public relations, social media and marketing to help grow and scale their businesses.
Taking this commitment one step further, award recipients will be the first to experience a new program with the brand, Tarte Labs. This innovative resource and incubation center will provide entrepreneurs, creators and artists access to necessary tools to elevate their enterprises. Tarte Labs will operate out of the brand's New York City headquarters and offer support including studio and content creation space, media templates, contract and legal document guidance, and more. These initiatives, in addition to hiring DEI agency, Black Beauty Roster, are part of Tarte's dedication to diversity, equity and inclusion.
Applications for the Shape Your Future $300,000 Small Business Awards will open Aug. 1, and details will be released on @tartecosmetics social channels.
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