
Famous Amos 'Ingredients for Success' Initiative Awards $150K in Grants to Three Black Entrepreneurs
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CHICAGO (August 23, 2023) – Today, Famous Amos, in partnership with the National Black Chamber of Commerce (NBCC), has announced the three winners of the third annual Ingredients for Success Entrepreneurs Initiative, a grant program that provides early-stage Black business
owners with unrestricted business capital and resources for success. For the third year of the initiative, over 3,000 eligible business owners participated in the application process to receive a $50,000 business grant and vast tools, coaching, and business mentorship resources from the NBCC. From this highly competitive program, three unique recipients were chosen out of thousands of applicants:
“The Famous Amos Ingredients for Success Entrepreneurs Initiative is a program that reflects our efforts to practice inclusion and belonging, and as we close out its third year we are excited to celebrate the new grant recipients and welcome them into the IFS alumni family,” said Rachna Patel, Vice President of Marketing for Famous Amos. As Black business owners continue to face investment challenges and waning support, initiatives like Famous Amos’ Ingredients for Success program provide a platform and critical financial investment when it is needed most. Famous Amos’ Ingredients for Success is driven by the brand’s ongoing commitment to close the financial gaps Black-owned businesses face in their pursuit of sustainable business success.
“The National Black Chamber of Commerce congratulates the three grant recipients from this year’s program cycle,” said Charles H. DeBow, III, CEO of the National Black Chamber of Commerce. “We are proud to partner with Famous Amos on this significant program for the
third year. This program coincides with our mission to economically empower and sustain African American communities through entrepreneurship. Through our mentorship support and resources, long-term continued business growth can be obtained for these entrepreneurs.” For the process of choosing this year’s grant recipients, Black business leaders were appointed as judges including Grant Warner, established HBCU educator and technology entrepreneur; Steve Canal, co-founder of Flourysh; and Nancey Harris and Tracy Green, CEOs of Vontelle, LLC. Harris and Green were Ingredients for Success recipients in 2021.
Applicants were required to submit a 90- to 120-second elevator pitch video detailing why they should win a $50,000 grant. Previous Ingredients for Success grant recipients have gone on to successfully execute the aspirations outlined in their program pitch videos. This year’s program welcomed all Ingredients for Success winners and finalists to Washington D.C. for an in-person networking event called the Think Tank. This growing entrepreneurial community, called the IFS Alumni Network, met to collaborate and learn strategies for achieving their long-term business goals. Businesses eligible for the Ingredients for Success Entrepreneurs Initiative had to be at a minimum 90% Black-owned and in operation for five years or less at the time of application. For more information on the program, please visit FamousAmosIngredientsForSuccess.info.
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About Ferrero
Ferrero began its journey in the small town of Alba in Piedmont, Italy, in 1946. Today, it is one ofthe world’s largest sweet-packaged food companies, with over 35 iconic brands sold in more than 170 countries. The Ferrero Group brings joy to people around the world with much-loved treats and snacks including Nutella®, Kinder®, Tic Tac®, and Ferrero Rocher®. More than 38,000 employees are passionate about helping people celebrate life's special moments. The Ferrero Group’s family culture, now in its third generation, is based on dedication to quality and excellence, heritage and a commitment to the planet and communities in which we operate. Ferrero entered the North American market in 1969 and has grown to more than 5,100 employees in 15 plants and warehouses, and eight offices in North America across the United States, Canada and the Caribbean. It has expanded its presence and portfolio with the addition of iconic brands such as Butterfinger®, CRUNCH®, Keebler®, Famous Amos®, Mother's
Cookies®, and other distinctive cookie and chocolate brands. Follow @FerreroNACorp on Twitter and Instagram. www.ferreronorthamerica.com.
About the National Black Chamber of Commerce (NBCC):
The NBCC is a nonprofit, nonpartisan, nonsectarian organization dedicated to the economic empowerment of African American communities. 140 affiliated chapters are locally based throughout the nation as well as international affiliate chapters based in North, Central, and South America, the Caribbean, Africa and businesses as well as individuals who may have chosen to be direct members with the national office. The National Black Chamber of Commerce® is dedicated to economically empowering and sustaining African American communities through entrepreneurship and capitalistic activity within the United States.
Ingredients for Success would like to extend its support of the Black business community by launching a virtual resource hub. The goal is to create a central destination for applicants to engage with the program