Grant Program Provides Resources To Black Entrepreneurs

Rachna Patel (center), Famous Amos VP of Marketing, meets Ingredients for Success Entrepreneurs Initiative alumni at their in-person Think Tank event in Washington, D.C. PHOTO PROVIDED BY FLOWERS COMMUNICATIONS GROUP.
Rachna Patel (center), Famous Amos VP of Marketing, meets Ingredients for Success Entrepreneurs Initiative alumni at their in-person Think Tank event in Washington, D.C. PHOTO PROVIDED BY FLOWERS COMMUNICATIONS GROUP.

Grant Program Provides Resources To Black Entrepreneurs

By Tia Carol Jones

Famous Amos Ingredients for Success Entrepreneurs Initiative is in its fourth cycle of providing resources to Black owned businesses. Since the grant program began in 2021, it has provided nine businesses with much needed capital of $50,000 along with wraparound services, which include workshops, mentor pairing and educational resources.

Eligible businesses must be at minimum 90% Black-owned, in business for five years or less, and headquartered in the United States.  The businesses must be owned by individuals 21 years or older. To be considered, applicants must submit a 90-120 second pitch video that explains why they should receive the $50,000 award for their business. This year’s winners and finalists will join an established network of entrepreneurs who have grown their businesses with the help of the program.

Rachna Patel, Vice President of Marketing for Famous Amos, said awardees are seeing their businesses scale in impactful ways since winning. In addition to the capital and resources, the awardees receive exposure in national and local media. One of the first award recipients, Vontelle, was able to secure an eyewear license deal with Nickelodeon and now they are being nationally distributed through America’s Best Contacts and Eyeglasses. An awardee from a previous cycle served as a judge for last year’s cycle.

“Not only are they involved in the program actively, as mentors themselves, but their businesses tremendously thrive,” she said.

Patel said the grant helps these entrepreneurs unlock doors and put these businesses one step closer to being able to thrive and be sustainable. The sustainability portion is really important because a lot of Black owned businesses in their early stages can struggle when it comes to having adequate resources to survive. Through the application process, Ingredients for Success has been able to engage 10,000 business owners.

Patel talked about Wally Amos, the Founder of Famous Amos, who started the business in 1975. He was able to grow the business, but ended up selling it because of funding. With Ingredients for Success, Famous Amos is trying to ensure that business owners can build and grow their business as they reach the five-year mark and beyond.

Another success story is Eartha by Emir, a watch company that won in 2023. Since winning the award, the company has been able to launch a new collection. Patel said it is in those early stages that businesses really need the resources to help them thrive.

In 2023, the initiative began a partnership with the U.S. Black Chamber. The U.S. Chamber serves as a community partner and they will assist the entrepreneurs, including educational and pairing the business owners with a mentor.

“The U.S. Black Chambers is proud to bring our vast experience in supporting and uplifting Black business – from advocacy to mentorship – to the Famous Amos Ingredients for Success network,” Ron Busby Sr., President and CEO of the U.S. Black Chambers, Inc., said in a release. “Ingredients for Success has impacted nearly 10,000 entrepreneurs so far with its mission to reach and empower start-up Black businesses. As the National Voice of Black Business, we are committed to providing even more Black business owners with the benefits of the program and access to additional resources and support so that this strong community of leaders has everything they need to reach their potential.”

The application is open through Aug. 4th. To apply, visit FamousAmosIngredientsForSuccess.com.


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