The program will grant $300,000 to Black female entrepreneurs starting in National Black Business Month in August.
For more than two decades, Tarte said its mission has been rooted in empowering and supporting others. With this announcement, Tarte is doubling down on those efforts to directly support the larger entrepreneurial community.
Acknowledging that a reported less than 1% of venture-backed capital currently reaches Black-owned businesses, and only 0.34% of total capital spent in the US is directed to Black female startup founders, Tarte recognized the importance of dedicated financial support and growth resources, driving the brand’s commitment to support Black female entrepreneurs now and into the future.
“I’m grateful to everyone who helped me along the way, and that’s why lifting up other entrepreneurs is so important to me,” said Kelly. “Supporting Black small business owners is one way to help shape a more inclusive, equitable and thriving business landscape.”
The program will offer two tiers of funding for applicants, six awards of $25,000 and 15 awards of $10,000 each, tailored to the unique needs and sizes of the selected small businesses. Beyond the monetary award, each recipient will receive ongoing, exclusive mentorship with key Tarte executives across departments including, finance, legal, supply chain, public relations, social media and marketing to help grow and scale their businesses.
Introducing Tarte Labs
This program is one many that Tarte has executed over the years, having always put giving back at the forefront of the business. In addition to monetary contributions and millions of in-kind donations through various charitable partners, tarte engages in the community through education initiatives including Tartelette U, the brand’s first-of-its-kind college mentorship program and an on-going tradition of clearing teachers’ wish lists through Tarte Loves Teachers.
Applications for the Shape Your Future $300,000 Small Business Awards will open August 1, with details to be released on @tartecosmetics social channels.