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Beauty accelerators are shaping the next phase for brands

ConsumerGeniuses

ConsumerGeniuses

Beauty accelerators are intended to help emerging companies. To name a few, there is Sephora Accelerate, Credo for Change, Ulta Beauty’s MUSE Accelerator, Tower28’s Clean Beauty Summer School, True Beauty Ventures x Bridge Mentorship, and Glow Recipe Mentorship. Many arose as a result of the 2020 Black Lives Matter movement’s focus on racism in the beauty industry. Sephora’s accelerator programme was reintroduced in 2021 to encourage creators of colour.

Related post: Ulta Beauty launches a $20 million VC fund with Prisma Ventures

Credo For Change accepted proposals from any BIPOC beauty brand, regardless of stage of development. Nopalera Velasquez has completed six accelerator programmes, including True Beauty Ventures and Pharrell Williams’ Black Ambition. Beauty accelerators tend to prioritise education and access over financing. The Estée Lauder Companies collaborated with FounderMade to create the Brand Innovation Competition in October. Thirty developing beauty businesses were chosen to meet with the New Incubation Ventures team one-on-one.

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