Mastercard Launches She Runs This Program Celebrating Entrepreneurship for Black Women in Business and Hip-Hop During GRAMMY® Week

Rhea-AI Summary

Mastercard (NYSE: MA) is hosting She Runs This: Celebrating Entrepreneurship in Business and Hip-Hop, a three-day event in partnership with Femme It Forward from February 2-4, 2023, in Los Angeles. This event celebrates Hip-Hop's 50th anniversary and aims to empower Black women entrepreneurs through various initiatives, including a TikTok challenge, a grant contest offering $20,000, and a virtual reality experience. Recent research indicates that 80% of U.S. women entrepreneurs face financial challenges. Mastercard's commitment includes a $500 million investment to address the racial wealth gap.

Positive

• Mastercard's investment of $500 million in Black communities aims to close the racial wealth gap.
• The Fearless Strivers Grant Contest provides $20,000 grants to Black women small business owners.

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• None.

Lil Kim, Salt-N-Pepa and Coi Leray join others in a three-part, celeb-studded panel discussion series in partnership with Femme It Forward, honoring Hip-Hop’s 50^th anniversary and celebrating Black Women entrepreneurship

PURCHASE, N.Y.--(BUSINESS WIRE)-- Today, Mastercard announced it will host She Runs This: Celebrating Entrepreneurship in Business and Hip-Hop, a three-day event in partnership with Femme It Forward, honoring the genre’s 50^th anniversary as part of the brand’s programming during GRAMMY^® Week. A holistic campaign inclusive of an immersive “Small Business City” in Meta Horizon Worlds, a TikTok challenge, the kickoff of a Fearless Fund grant contest and a national ad campaign will further the brand’s impact on helping Black women entrepreneurs thrive.

According to recent Mastercard research, 80% of U.S. women entrepreneurs, solo-preneurs, small business owners and content Creators report having financial challenges*. Recognizing the universal obstacles entrepreneurs face, and the increased challenge of succeeding in the face of racism and bias, Mastercard is honoring Hip-Hop’s 50^th Anniversary by helping equip Black women entrepreneurs with the financial tools, resources and education needed to successfully accomplish their dreams.

“Like the musical talent who shaped Hip-Hop, Black women small business owners continue to embrace the power of perseverance, going above and beyond to achieve their dreams and empower their communities, despite facing deep-rooted inequalities,” said Rustom Dastoor, EVP of Marketing and Communications, Mastercard North America. “We are proud to support these fearless Black women artists and business owners in their pursuit of redefining what’s possible, and we’re excited to watch them take their stage, follow their passions and thrive.”

In celebration of the GRAMMY Awards^® and the 50^th Anniversary of Hip-Hop, Mastercard is launching a variety of Priceless engagements and shoppable activations to support Black women small business owners (SBOs), empower their communities, and inspire consumers to shop and support their businesses.

• She Runs This: Celebrating Entrepreneurship in Business and Hip-Hop: Beginning Thursday, February 2 and running through Saturday, February 4, Black women owned small businesses in Los Angeles will host invited guests for dynamic discussions about entrepreneurship for women in business and hip-hop with music icons such as MC Lyte, Lil Kim, Salt-N-Pepa, and Yo-Yo as well as emerging artists such as Jozzy, Baby Tate, and Coi Leray; and a special appearance by Mastercard ambassador Jennifer Hudson.
• “Small Business City:” Mastercard’s virtual reality experience in Meta Horizon Worlds will spotlight Black women SBOs to inspire and educate a future generation, providing networking opportunities and tools for success.
  • Mastercard Striver and co-creator of Small Business City RhondaX will discuss her thriving career as a creator in the Web3 space on The Jennifer Hudson Show.
• TikTok Challenge: A TikTok challenge, kicked off by Jennifer Hudson will invite SBOs to share what makes them a small business superstar with a “drop the mic” moment. SBOs will be able to stitch their responses and pass the mic to the next participant, with Mastercard’s sonic melody as the backing track.
• Small Business Marketplaces: Mastercard has collaborated with Amazon to promote Black women owned small businesses, setting the stage for the SBOs to share the origin stories of their brands on Amazon Live where they can connect directly with customers via an interactive live chat. Consumers can also discover a reimagined shoppable social experience of products from exclusively Black women-owned small businesses from across the country directly on Pinterest.
• Fearless Strivers Grant Contest: Mastercard has once again extended its partnership with Fearless Fund, a with the Black women-owned venture capital fund built by women of color for women of color, to provide Black women SBOs across the country with $20,000 grants, digital tools and mentorship to help them build, protect and sustain their business through its third annual Fearless Strivers Grant Contest.

This program is just one element of Mastercard’s growing music footprint. In January, in support of helping all creators reach their full potential, Mastercard announced the Mastercard Artist Accelerator Program, a Web3 collective that connects musicians, creators and fans to collaborate like never before. The development program will harness Web3 and blockchain technologies to prepare emerging artists from underrepresented communities with tools, skills and access to forge their own paths in the digital economy.

Through mastercard.com/smallbiz visitors can learn about the financial tools, benefits and education that helps small businesses thrive and Start Something Priceless. People can also learn more about Mastercard’s $500 million investment in Black communities to help close the racial wealth and opportunity gap in the US by visiting Solidarity in Action.

*According to Mastercard research, “creators” are defined as entrepreneurs, solo-preneurs, small business owners and content Creators with over 2,000 followers on Instagram, TikTok, LinkedIn, or Twitter or 500 followers on YouTube. The custom study was conducted by The Harris Poll in June 2022, fielded among 4,000 respondents in North America.

ABOUT MASTERCARD (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

www.mastercard.com

ABOUT FEMME IT FORWARD

A joint venture with Live Nation Entertainment, Femme It Forward is a female-led music and entertainment company that centers its mission in celebrating, educating, and empowering the industry’s most creative and accomplished female visionaries through multi-format, multi-market consumer experiences. Femme It Forward produces music festivals, concerts, original content, comedy shows, panels, college engagements, philanthropic endeavors, and more. For more information on Femme It Forward, visit FemmeItForward.com. For live updates and to join the conversation, follow #FemmeItForward on Twitter, Instagram and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005638/en/

Mastercard Media:

Alyssa Rosenblatt

Alyssa.Rosenblatt@mastercard.com

Margaret Williams

Margaret.Williams@mastercard.com

Femme It Forward Media:

galia.slayen@ledecompany.com

Source: Mastercard Incorporated

FAQ

What is the purpose of Mastercard's event 'She Runs This'?

The event aims to celebrate Hip-Hop's 50th anniversary and empower Black women entrepreneurs through various support initiatives.

When is the 'She Runs This' event by Mastercard?

The event will take place from February 2 to February 4, 2023.

What initiatives is Mastercard offering to support Black women entrepreneurs?

Mastercard is offering a TikTok challenge, a Fearless Strivers Grant Contest with $20,000 grants, and a virtual reality experience.

What does the research say about women entrepreneurs' challenges?

Recent Mastercard research indicates that 80% of U.S. women entrepreneurs face financial challenges.

How does Mastercard plan to address the racial wealth gap?

Mastercard is committing $500 million to support Black communities to help close the racial wealth gap.