Calling All Aspiring Beauty Entrepreneurs—Sephora Has Some News
Courtesy of Warby Parker
In an effort to expand its social impact and participate in the tech industry that is transforming the beauty world, Sephora just announced that it is launching its own accelerator program for female entrepreneurs in the beauty space.
Corrie Conrad, a former Google employee, is heading up the project, but this accelerator is a little different than the money-heavy incubators we read about in Silicon Valley.
"Funding is probably not our biggest play here, actually," Conrad tells Fast Company. The goal, she adds, is "to build a community of innovative female founders in all areas of the beauty industry. The network we provide, the feedback we provide, that's a really valuable thing that I think is of interest to those that are applying."
The first Sephora Accelerate cohort will be announced in March, and Conrad says the beauty retailer intends to keep the program going at least until 2020, "with the goal of working with at least 50 female entrepreneurs."
Eligible entrepreneurs must be invited to apply. They must have a sample product, a commitment to social impact, and can't have received additional funding or widespread attention. The one-year accelerator partnership includes a bootcamp hosted in San Francisco, a demo day, and a check for $2500.
We're excited to see what the new crop of beauty entrepreneurs brings. Emily Weiss, it looks like you've paved the way for other female founders to shake up the beauty industry!
For information about Sephora Accelerate, visit Fast Company.
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What do you think about Sephora's endeavor to support social entrepreneurship? Share with us in the comments.