BASF announced its collaboration with StitchCrew, an organization serving early-stage entrepreneurs, to launch the Inclusive Beauty Accelerator. The program will provide a learning platform and business opportunities for the next generation of leaders in the beauty industry committed to creating innovative, inclusive products.
Creating Innovative & Inclusive Products
Participants of the Inclusive Beauty Accelerator will have the opportunity to present, refine and scale their business plan to bring beauty products to market that serve the diverse needs of consumers of today and tomorrow.
Selected participants will receive a 10,000 dollar non-dilutive grant and gain hands-on coaching from leading beauty and personal care executives. At the end of the program, participants will have the opportunity to showcase their products to Consumer Packaged Goods (CPG) investors, StitchCrew, and BASF extended networks.
"The Inclusive Beauty Accelerator demonstrates BASF’s firm commitment to advance inclusion and diversity in the personal care industry,” said Marcelo Lu, senior vice president, Care Chemicals North America.
“BASF is investing heavily in R&D to create new products that are effective for diverse skin and hair types. With the Inclusive Beauty Accelerator, we are taking our commitment to the next level by supporting tomorrow’s inclusive beauty innovators who will launch products and services that will advance our industry.”
“We are proud to collaborate with BASF to support bold entrepreneurs challenging the Beauty and Personal Care industry by providing products that expand inclusion and the very definition of beauty,” said Erika Lucas, co-founder of StitchCrew.
The Inclusive Beauty Accelerator is designed for early-stage companies in the personal care and beauty space committed to creating innovative and inclusive products. Applicants must come from an underrepresented background and/or be at least 50% minority-owned and must be 18 years or older, reside in the United States, and have a physical product available to sell.
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Source: BASF