The Empower Project is a competition that aims to help Black-owned businesses take the next step by providing them with expert mentors and business services.
Any Black-owned or founded businesses with current annual revenue between $150,000 and $10 million are invited to apply. Five finalists will be chosen and invited to attend a virtual pitch slam on February 16, where they will be able to pitch their business venture to the sponsors. The winner will be announced on February 26, 2021.
It was supposed to start small, according to Steve Gaither, chief marketing officer at C.A. Fortune, who founded the project along with William Madden, co-founder of Whole Brain Consulting. “I had an employee approach me about wanting to be more involved in supporting minority-owned brands,” he said. “In my mind, I was assuming we would target local, Chicago-based companies … maybe help them with brand strategy.”
However, Madden encouraged Gaither to think larger and open the competition up to Black-owned businesses across the U.S. “You know the phrase think globally, act locally?” asked Gaither, “Well, Will thinks globally and acts globally.”
The resources from C.A. Fortune and Whole Brain Consulting would take care of brand strategy and operations management, but what about the other barriers to success? Like building an e-commerce strategy or financial guidance? Gaither and Madden began to reach out to other firms, hoping to build a full portfolio of services to round out the project’s offerings.
First on board were Kyle Gardner, CEO and his business partner Adam Robins, president, of Dobson Avenue Capital Partners. Friends for years, Gaither knew they were already active in helping minority-owned brands.
“My grandmother and grandfather were teachers,” said Gardner. “But one day, they started making hair care products out of their kitchen. At first, they sold them door-to-door, but they wanted to take their business to the next level. They went to a local bank and met with my now partner, Adam, who helped them secure a loan through the Small Business Association. This helped them grow their business and eventually they sold it to L’Oreal.”
Seeing firsthand how even a small investment can help disadvantaged business owners thrive, Gardner and Robins jumped at the chance to be a part of The Empower Project.
"The consumer-packaged goods industry is a difficult space for any new company to break into," said Gardner. "My core business is focused on supporting underrepresented entrepreneurs and I am eager to not only provide funding to this business, but also to share my business acumen with them to help take them to the next level. I am so grateful to be a part of this project with all of these other powerhouse partners."
In total, nine firms, each with recognized leaders in their respective fields, have joined the project, including JConnelly, C.A. E-Comm, Propeller Industries, Spins, 108 Agency, and Davis Wright Tremaine LLP. Each will donate their services to the winner of the virtual pitch slam contest, a value of nearly $500,000. Applications for The Empower Project are open until January 15, 2021.
The Empower Project is hosting an informational 101 Event this Tuesday, December 15 at 12 p.m. EST, to answer questions and encourage applications.
Gaither hopes to make this an annual event in the future, but for now, is happy just to get as many people as he can in the room. “Our short term goal is to reach as many Black founders as we can. The more people we can reach, the bigger impact we’ll make.”
Gardner echoed that sentiment. “We’re hoping to get a lot of interest and give the brands we know and love this elevated platform. That’s our main goal,” he said.
Related: National Urban League, PepsiCo Create Black Restaurant Accelerator; Findlay Kitchen Incubator Launches Curated Monthly Boxes.
Image: The Empower Project
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