Stacy's Rise Project Expands Commitment to Female Founders; Partners with Hello Alice to Fund $150,000 in Grants to Black Women Business Owners

Rhea-AI Summary

On September 22, 2020, Stacy's Rise Project announced an expansion of its grant and mentorship program, aimed at aiding Black female entrepreneurs. In partnership with Hello Alice, the initiative will provide $150,000 in grants to 15 selected founders, alongside mentorship and advertising support. The project addresses challenges facing Black female entrepreneurs, with 70% struggling to find mentorship and 83% needing marketing resources. Since its inception in 2019, the program has fostered a community of over 2,000 women and aims to uplift women of color in business.

Positive

• Expansion of the Stacy's Rise Project, offering $150,000 in grants to support 15 Black female founders.
• Partnership with Hello Alice enhances resources for women entrepreneurs, including mentorship and advertising support.
• Increased awareness of the challenges faced by Black female founders, fostering community engagement.

Negative

• Only 0.2% of venture capital funding is awarded to women of color, indicating systemic funding disparities.

PLANO, Texas, Sept. 22, 2020 /PRNewswire/ -- Earlier this year, the Stacy's Rise Project expanded its annual grant and mentorship program to support more women with more services than ever before – but the continued disparity among Black female business founders persists, with women of color receiving only 0.2 percent of venture capitalist funding¹. In a continued quest to "help women rise," the Stacy's Rise Project has now further expanded its program together with longtime partner Hello Alice to support an additional 15 Black female founders with a total of $150,000 in business grants, professional advertising services – including a prominent spotlight on the Stacy's Amazon e-commerce hub – and executive coaching/mentorship.

As small business owners nationwide have been impacted significantly by the events of the last year, a recent survey by Stacy's found that Black female founders are facing their own unique challenges:

• 70 percent say finding a mentor to guide them in this current economic state is difficult.
• 83 percent wish they had resources to increase their marketing efforts.
• 73 percent spend an hour or more each week applying for grants or funding.
• 43 percent are taking on more than half of the financial risk to start their business.
• 46 percent say they often feel burnt out.

The expanded Stacy's Rise Project will help the winners address these challenges through the key program pillars of funding, mentorship and advertising, and will also include a complimentary membership in The BOSS Network, founded by fellow entrepreneur Cameka Smith.

Since first partnering with Hello Alice for the Stacy's Rise Project in 2019, the two companies have connected thousands of women from across the country and created an online community with more than 2,000 engaged members. Now, Stacy's has teamed up with Hello Alice again to select 15 Black female founders from a pool of women who submitted their businesses to receive a Hello Alice COVID-19 Business for All Emergency Grant. The women were chosen on such factors as their commitment to social impact and sustainability, and how they have faced recent challenges in their business.

The 15 founders include:

• Arielle Loren, Miami, who founded 100K Incubator. 100K Incubator is a small-business funding app created for women to help scale their business through live coaching and classes.
• Thereasa Black, Arlington, Va., who started Amore Congelato LLC. The company's nutritious sorbets and gelatos are sweetened with dates. And each pint is printed with facts about social injustice.
• Stevonne Ratliff, Oakland, Calif., who founded Beija-Flor Naturals. Beija-Flor Naturals is a natural beauty brand encouraging women of color to embrace their natural hair and stop chemical straightening.
• Lisa S. Jones, Atlanta, who established EyeMail Inc. EyeMail Inc. is a patent-pending marketing tech company that brings email to life by embedding videos. 
• Cassandre Davilmar, Brooklyn, N.Y., who founded Lakou Brands LLC. Lakou Brands LLC is a Haitian-American café and event space in Brooklyn where communities can gather to nourish their bodies and souls.
• Kim Roxie, Houston, who established LAMIK Beauty. LAMIK Beauty is a beauty-tech company designed for multicultural women with products made with natural and organic ingredients.
• Anika Hobbs, Baltimore, who founded Nubian Hueman. Nubian Hueman is a social enterprise that sources and curates unique goods, fashion and art representing the global diaspora. 
• Latricia Wright, Detroit, who started Olive Seed. Olive Seed is a holistic wellness company offering integrative services like nutritional counseling, wellness workshops and wholesome products.
• Logan Niles, Seattle, who established Pot Pie Factory Inc. The company's comfort food brings families together by fusing an American classic with the flavors of our modern American melting pot.
• Karneisha Christian, Compton, Calif., who founded Pucker Up Lemonade Company. The company's handcrafted lemonade brand offers over 40 flavors and supports local community organizations.
• Mimi Johnson, Atlanta, who founded The Glamatory. The beauty boutique offers cruelty-free makeup and posh services that give makeup artists a platform to grow. 
• Xiomara Rosa-Tedla, Oakland, Calif.,  who founded UnoEth, Inc. The company designs leather bags and accessories in partnership with Ethiopian artisans while helping them launch their own businesses.
• Zandra Cunningham, Buffalo, N.Y., who established Zandra. The eco-friendly, plant-based skincare company helps support nonprofits that inspire education for girls. 
• Deborah Koenigsberger, New York, who started Noir Et Blanc NYC. The French-themed women's clothing boutique helps support homeless mothers and children during the pandemic.
• Anika Godwin Hilderbrand, Greensboro, N.C., who built OpulenceMD Beauty. The company's mission-driven line of beauty solutions puts the health of your eyes and vision at the forefront.

Stacy's is encouraging everyone to join in the founders' journeys by following #StacysRiseProject on social media and visiting the winners' business websites. Beginning this month, Stacy's will share the stories of the 15 founders and actively promote their businesses across its social platforms.

Survey Methodology
This survey was conducted online between January 5-10, 2020, among a nationally representative sample of 1,042 adults, balanced by age, education, gender, race and region. Additionally, the survey was fielded amongst 500 female entrepreneurs, defined as those who currently or plan to own a business with the intent of making a profit and will take on personal financial risk. Among the 500 female entrepreneurs, there was a natural fallout of 83 black female founders. Results from the nationally representative sample have a margin of error of +/- 3.1%, +/- 4.38% for the total sample of female entrepreneurs, and +/- 10.7% for black female founders.

About Stacy's^® Snacks
Stacy's Snacks is one of the many brands that make up Frito-Lay North America, the $17 billion convenient foods division of PepsiCo, Inc. (NASDAQ: PEP), which is headquartered in Purchase, N.Y. Learn more about Frito-Lay at the corporate website, http://www.fritolay.com/ and on Twitter http://www.twitter.com/fritolay.

About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $67 billion in net revenue in 2019, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business. For more information, visit www.pepsico.com.

Alice
Hello Alice is a free, multichannel platform that helps businesses launch and grow. With a community of more than 200,000 business owners in all 50 states and across the globe, Hello Alice is building the largest network of owners in the country while tracking data and trends to increase the success rate for entrepreneurs. Our partners include enterprise business services, government agencies, and institutions looking to serve small- and medium-business owners to ensure increased revenues and promote scale. Co-headquartered in Houston and San Francisco, and founded by Carolyn Rodz and Elizabeth Gore, we believe in business for all by providing access to all owners including women, people of color, veterans, and everyone with an entrepreneurial spirit. To learn more, visit www.helloalice.com, as well as Twitter, LinkedIn, and Instagram.  

¹ digitalundivided (2018), ProjectDiane2018: The State of Black Women Founders

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SOURCE Frito-Lay North America

FAQ

What is the Stacy's Rise Project's recent announcement regarding Black female entrepreneurs?

The Stacy's Rise Project announced an expansion of its grant and mentorship program, providing $150,000 to support 15 Black female founders.

How much funding will the selected Black female founders receive from Stacy's Rise Project?

The selected Black female founders will collectively receive $150,000 in grants.

Who is involved in the Stacy's Rise Project's grant initiative alongside Stacy's?

Hello Alice is the partner organization supporting the Stacy's Rise Project's grant initiative.

What challenges do Black female entrepreneurs face according to the recent survey by Stacy's?

Challenges include difficulty finding mentorship (70%), a need for marketing resources (83%), and financial risks.

When was the Stacy's Rise Project expanded to support Black female founders?

The expansion was announced on September 22, 2020.