An industry which is geared towards women but is ironically primarily run by men, is about to get a much needed makeover thanks to Sephora.
The beauty giant has just announced the launch of a new program called Sephora Accelerate, which will help provide the necessary resources that female entrepreneurs need to thrive in the beauty biz.
As a part of their larger initiative, Sephora Stands, aimed to “inspire confidence and fearlessness among women,” the major retailer notes that female owners in this business are at a strong disadvantage.
“Currently, female entrepreneurs do not have the same access to funding, connections, or business instruction as male entrepreneurs do, a fact reflected by the statistic that 85% of venture capital funded startups are led exclusively by men,” Sephora stated.
For the program’s launch Sephora has hand-selected a number of promising entrepreneurs to apply. Once the application process is done, Sephora will induct 10 startups into their year-long bootcamp, located at their headquarters in San Francisco, starting in April.
Fellows will receive one-on-one mentoring with Sephora executives, intensive training, design support, media exposure, and are eligible for a $2,500 grant.
While the issue of gender equality in business is a grave issue, this is surely a great start to help foster more girl power into the industry. We’ll surely be on the lookout for these innovative beauty startups.
For more information visit sephorastands.com/accelerate/.