On Sept. 2, Glossier announced 16 winners of its Grant Initiative for Black-Owned Beauty Businesses, which offers $500,000 in grants and mentorship to Black-owned beauty businesses and is part of the company's broader plan to support the Black community.
Glossier received more than 10,000 applications for grants of $10,000, $30,000, or $50,000 and chose 16 winners across three categories. The $50,000 grants go to "growth-stage" companies that are more than a year old and are looking to scale their operations, while the $30,000 awards are given to those less than a year old that are looking to grow their customer base. The $10,000 grants go to businesses that haven't yet launched but plan to in the next year.
The initiative began as a way to bolster Black-owned brands and help provide capital. According to a report by the Federal Reserve, less than half of Black-owned businesses are fully funded and are less likely to qualify for credit cards. Black female founders have also received less than 1% of venture capital since 2009; by comparison, their white female counterparts got 2.2%.
In addition to the grants, recipients will also receive advising from Glossier, which includes monthly one-on-one support from individuals who work in areas ranging from packaging to content strategy. Glossier will also use its contacts to connect grant winners to other founders for networking and support.
The 16 businesses cover a range of the beauty spectrum from wellness to hair to skincare. They include brands like brown girl JANE, a plant-based CBD-based company focused on wellness and beauty that recently teamed up with Shea Moisture; Melanj Hair, a textured hair extension brand; and Pound Cake, a pro-Black, pro-queer, and pro-fat cosmetics brand focused on creating inclusive lip shades.
Check out the full list of winners below — start making your shopping list now.