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Photo: Courtesy of Ripbar.
In a bold move aimed at empowering underrepresented BIPOC and women entrepreneurs, The Lip Bar Co., Ltd. ” was announced.bose ventures” As a visionary founder and recipient of the award. New Voices Fund, CEO Melissa Butler has long been a vocal advocate for diversity and inclusion in the beauty industry. With “Bawse Ventures,” she expands her efforts beyond cosmetics and recognizes the systemic barriers faced by minority entrepreneurs.
“I was inspired to create this program because as the founder and CEO of The Lip Bar, I understand the challenges firsthand,” Butler tells ESSENCE. “I know what kind of capital it takes to secure a bank loan to start a business,” she explains. Butler emphasizes the urgent need to address the capital disparities that hinder business scalability within Black and brown communities. “This microfund will support entrepreneurs who are not yet venture capital ready but need financial assistance for critical aspects such as inventory, trade shows, staffing, and other elements critical to success. It is intended to.”
Under Butler’s leadership, Bawse Ventures is providing more than just financial support. Selected winners will receive direct mentorship from Butler himself and will have access to a network of carefully selected industry experts. This holistic approach highlights Rip’s commitment to developing both the companies and the individuals behind them, and providing founders with the tools and guidance they need to succeed in a competitive environment. .
For Butler, “mentoring is more important than money,” she says. “We coach entrepreneurs on how to manage their money wisely. First, you have quarterly meetings with me and I bring in accountants, PR professionals, and other key people who can advise you on your business.” She ’s goal is to move participants from mentorship programs to larger funding opportunities, such as New Voices and Madam CJ Walker Bootcamp, and foster continued growth for participants.
The meaning of ‘Bawse Ventures’ embodies a broader ethos of empowerment and resilience. Named in honor of The Lip Bar’s iconic red matte liquid lipstick, Bawse Lady, this initiative embodies confidence and confidence. Inspired by influential figures such as michelle obama and Taraji P. Henson, For those who have supported the brand’s products, Bawse Ventures represents a universal movement to unapologetically embrace your inner Bawse.
“I want aspiring entrepreneurs to have confidence, because with confidence you can achieve anything. I encourage them to be unapologetically themselves and embrace their uniqueness as a superpower. “We want people to take advantage of that,” Butler says. “I want to inspire them, but more importantly, I want to provide tangible support and guidance on their journey.”
The application window for “Bawse Ventures” has opened. lipbar.com. Finalists will be notified in June 2024 and winners will be announced in September 2024.
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