Sainsbury’s has launched a free 16-week incubator programme for Black-led start-up businesses.
The Big 4 grocer partnered with Foundervine and Mission Ventures to deliver the project that will offer £1,000,000 to support businesses transitioning to supermarket shelves.
Due to inadequate funding, lack of social capital and network to limited industry knowledge – the supermarket recognises the obstacles of launching a company which often affect Black and ethnic minority business owners more.
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As a result, Thrive with Sainsbury’s is designed to open entrepreneurial food and drink businesses seeking to grow but facing one of many barriers holding them back.
The programme will provide a £20,000 welcome grant to nine successful applicants as well as offer 150 hours of practical one-to-one support and group learning activities.
Funding will also be offered at various stages throughout the process, up to the value of £105,000 per brand that makes its way to a listing at Sainsbury’s.
To qualify for the programme, the food or drink business must be founded by a person that identifies as being of Black ethnicity or heritage.
The programme comes as part of Sainsbury’s mission to become a truly inclusive retailer, with a focus on increasing diversity within its supplier base and ensuring customers can easily access products that better suit their needs.
From the project, five breakthrough Black-led brands will be hitting Sainsbury’s shelves in 2023.
“We know that despite the strength of ideas and potential amongst Black founders, often opportunities and success can be hindered by ethnicity, which is we are starting with this group of the most underrepresented founders first,” Sainsbury’s director of grocery innovation Silika Shellie-Manso said.
“By working with brilliant partners, Mission Ventures and Foundervine, to launch Thrive with Sainsbury’s we’re able to give start-up brands access to quality support and services to which they ordinarily would not have access to. Our hope is that this will help them grow and successfully sustain their brands and businesses.”
Shellie Manso added: It’s a new approach for us and our hope is that it will drive both meaningful change within the retail sector, while also enabling us to bring more innovation and a broader range of product to our customers. I would encourage anyone who relates to this to apply and am looking forward to seeing what pioneering products are out there.”
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