Sainsbury’s has revealed the first three Black founder-led brands it will be supporting as part of its new £1 million incubator programme named ‘Thrive with Sainsbury’s’.
In a first for the UK retail sector, the big 4 grocer launched the programme last summer with a free 16-week programme designed to supporting Black founder-led start-up businesses transition to supermarket shelves.
So far, the three brands that have been confirmed to be hitting supermarket shelves later this year as part of Sainsbury’s market-leading programme include Mirror Margarita, Riddles Ice Tea and RAISE Snacks.
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In partnership with Foundervine and Mission Ventures, ‘Thrive with Sainsbury’s’ sought to tackle the challenges Black and ethnic minority start-up businesses face, including reduced industry knowledge, insufficient access to funding, and limited social capital and networks.
Nine successful applicants received an initial grant of £20,000, followed by further funding and support grants over the 16-weeks, in addition to one-on-one training and group learning opportunities with experts.
As well as mentoring, the founders had access to education and support with business branding, production and product improvements to help elevate their business.
“We launched Thrive with Sainsbury’s to give Black founder-led start-up brands access to quality support and services to which they wouldn’t otherwise have access to, as innovation and inclusivity are at the heart of what we do,” director of grocery innovation at Sainsbury’s, Silika Shellie-Manso said.
“What these brands have achieved over the last sixteen weeks is phenomenal and we hope all businesses involved can take away skills and knowledge to help them grow even further.”
Managing director at Mission Ventures, Louis Bedwell commented: “Thrive has given this group of talented, black-led businesses a springboard to grow their brands within the market.”
She added: “We’ve been privileged to deliver brand and business-building support across the 16-week process and have been thrilled with the growth of the brands and entrepreneurs. We’re excited to follow their journey into the market.”
The news comes as Bestway Group has increased its stake in Sainsbury’s to 4.47%, making it the supermarket’s fifth-largest shareholder.
