Launching a successful beauty business is no easy feat for any aspiring entrepreneur, especially if you’re a minority or part of an underserved community. For those who don’t know, BIPOC-owned businesses face a higher likelihood of failure with eight out of 10 businesses failing within only their first 18 months due to a lack of resources and funding.
Thankfully, over the past few years, we’ve seen various brands and organizations in the beauty industry roll out a number of programs designed to support minority entrepreneurs. Maesa, the leading beauty incubator behind brands like Flower by Drew Barrymore, TPH by Taraji P. Henson, and Kristen Ess Hair, is the latest to do so with the launch of its first early-stage incubator program for beauty and wellness entrepreneurs from underserved communities.
Created in direct response to the ever-present entrepreneurial access gap, the Maesa Magic Incubator aims to empower and amplify early-stage, underrepresented voices—including women, BIPOC, LGBTQ+, differently abled, and senior individuals—in the beauty and wellness section. Under this holistic program, three promising beauty or wellness CPG startups that are either pre-launch or have less than $100K in sales to-date, will have the opportunity to participate in a 12-week intensive curriculum that will help make their brand vision a reality. This program will include mentorship, a six-week lecture track, four weeks of hands-on education, a Harvard on-campus workshop, and a final pitch in which entrepreneurs will present their pitch decks to industry experts.
“Maesa embraces the principles that investing in our communities yields shared rewards—and a little bit of magic,” shared CEO Piyush Jain. “By breaking down barriers and offering our proven expertise, the #MaesaMagicIncubator aims to create a more inclusive and diverse beauty industry, thriving on innovation and creativity.”
“Our mission with the Maesa Magic Incubator goes beyond brand creation,” added Oshiya Savur, chief brand officer of Maesa. “We are committed to empowering individuals and amplifying their unique voices. This program is about redefining what’s possible and ensuring that every dream, regardless of its size or origin, has a chance to shine.”
Not only will participants of the incubator be granted valuable mentorship and education, but successful completion of the program will result in a $35,000 grant for each entrepreneur to help boost their brand. If you’re ready to make your mark on the beauty industry with your very own brand, keep scrolling for more information about the Maesa Magic Incubator—including eligibility requirements and how to apply for the program.
Eligibility
- Early-stage entrepreneurs identifying as being from underrepresented communities are encouraged to apply.
- Applicants must be at least 18 years old at the time of submission.
- Businesses must be in pre-launch or limited distribution phase (with under $100k in sales)
- Businesses must be U.S.-based (Immigrants with legal permission to reside in the U.S. are welcome to apply).
- Must be in the beauty and wellness space.
How to Apply
To apply for the Maesa Magic Incubator, applicants will need to submit:
- A complete application—click here to apply! ***Submissions close 11:59pm EST at September 1st, 2023***
- Pitch deck or a URL to a live brand website
- Video submission (1-3 minutes)
The top 10 applicants will be invited to an interview and three companies will be selected on Sept. 25th to participate in the program.
Meet the Mentors
Maesa Magic Incubator mentors include 11 Maesa executives as well a number of notable founders and experts, including:
- Mindy McKnight, Founder of Hairitage
- Brooklyn + Bailey, Founders of ITK
- Andrew Fitzsimons, Founder of Andrew Fitzsimons Hair
- Andrea Nagel, SVP of News & Programming (CEW)
- Jaclyn Johnson, Founder & CEO of Create & Cultivate
- Hui Chan, Managing Director of Bain Capital
For more information about the Maesa Magic Incubator, be sure to visit https://maesa.com/incubator-page/ or follow @maesa_incubatingbeauty on Instagram.
