An Accelerator for Black and Latino entrepreneurs by Square
An accelerator for Black and Latino entrepreneurs by Square
THE MISSION For Black and Latino entrepreneurs, there’s only one direction to go — forward. Despite long-standing systemic barriers, they continue to build businesses and impact their communities.
Only 4% of Black-owned businesses survive the start-up stage, even though 20% of Black people in the U.S. start businesses.1
Latino-owned businesses are only half as likely as their counterparts to receive the funding they apply for,2 even when Latino entrepreneurs are the fastest-growing segment of entrepreneurs.3
It’s time to equalize access to resources and capital, because all businesses should be able to participate and thrive in the economy. -^
Overview
What is Forward?
FORWARD is an accelerator program by Square for early-stage,* U.S.-based Black and Latino small businesses in the retail sector.
We’re doing our part to increase access to the necessary capital, products, financial literacy, and coaching to help achieve business success and sustainability.
Because Black businesses bring in $141 billion in revenue and provide 1.3 million jobs. Because Latino-owned businesses create $472 billion in revenue and employ 2.9 million workers.4
The more Black and Latino entrepreneurs receive support, the more their businesses grow, and the more we all move forward.
This program is brought to you in collaboration with Social Change Fund United, 1863 Ventures, and American Express.
* Businesses that have publicly launched and are currently within the first three years of operation with gross revenue between $25K–$500K. See more eligibility guidelines here.
The 2023 Cohort
Jordan Karim
Flora & Noor
Inclusive skin care with halal, vegan, and cruelty-free products
Kenzel Fallen
Three Keys Coffee
Craft coffee roastery taking notes from jazz and world travels
Lizz Rene
PO’ UP! Card Game
A card game contributing to racial justice by centering Black joy
Briana Williams
LipLoveLine
Ingredient-conscious lip care products to empower self-expression
Gayneté Jones
Best, Periodt.
Menstrual care products with the mission of making cycles more comfortable
LaToyia Mays
The Laya Center
Holistic wellness destination blending ancient African healing methods and Ayurvedic techniques
Emmanuel Waters
Old Hillside Bourbon Company
A bourbon brand infused with history and heritage
Cleon Arrey
Neighbors Skate Shop
Skate shop connecting community through the love, energy, and momentum of skateboarding
Ian Callender
Sandlot
Cultural arts and entertainment venue with a bar located inside a shipping container
Jacqueline Carrington
People of Color Beauty
10-free nail color designed for Brown skin tones
Kwaku Agyemang
BrownMill Company
Handcrafted garments marrying bespoke tailoring and streetwear
Paul Elliott
Loft & Bear Distillery
Artisanal vodka distilled in small batches with original recipes and authentic processes
Catherine Tejeda
Essie & Ellie
Home goods and upholstery services continuing a family legacy
Raquel Vélez
Alpine Parrot
Technical outdoor apparel made for a diverse range of sizes and ethnicities
Toria Edmonds-Howell
North 24th Home
Non-toxic household cleaning essentials helping families care for their homes and well-being
Aviva Perea
Day Rate Beauty
Sustainable, recyclable, and plastic-free hair pins for one-and-done hairstyles
Angelica Varela
Semillas Plant Studio
Plant and floral studio with custom designs for events, weddings, and rentals
Cory Varona
OCOA Beauty
Curly hair care products with minimal ingredients rooted in tradition and sourced from Dominican Republic
THE CURRICULUM
Go from objectives to results.
Shift your mindset from a founder to a CEO and learn to effectively scale your brand. Create focus, accountability, and alignment, and develop a framework to connect day-to-day activities to your mission and your short- and long-term goals.
Know and grow your customers.
Hone in on your value, positioning, and messaging and learn how to present it to your customers in a way that will speak to them. Power your operations with data and information and make effective decisions around marketing, sales, customer service, and finance.
Do more with less.
Make a bigger impact by identifying areas where you can streamline existing and future operations. Spot and prevent bottlenecks, map out your processes, and learn when to outsource or automate.
Manage your capital.
Plan, manage, and predict your company’s financial future. Get comfortable with financial evaluation, prepare your business for every outcome, and make informed decisions to mitigate financial risks.
Developed by 1863 Ventures, with a focus on outcomes over optics.
THE MENTORS
Dwyane Wade
Dwyane Wade is a three-time NBA Champion and businessman with partnerships including Budweiser Zero, BallerTV, and Wade Cellars and recently joined the Utah Jazz and Real Salt Lake ownership groups. Wade co-founded the Social Change Fund United to invest in and support organizations focused on empowering communities of color and advocating for the human rights of all Black lives. Wade remains committed to using his platform to help advance racial justice and LGBTQ equality.
Rosario Dawson
Not only an accomplished actress and producer of big and small screens, Rosario is the co-founder of fashion and media lifestyle brand Studio One Eighty Nine, and an activist involved in a range of influential organizations — most notably Voto Latino, which empowers Latino millennials to vote and influence change. She is also an active board member of V-Day, The Lower East Side Girls Club, Operation USA, and the Environmental Media Association.
Ayesha Curry
A renowned restaurateur, chef, 2x New York Times bestselling author, producer, host, entrepreneur and featured on the prestigious Forbes “30 Under 30” list. Ayesha is also the Founder and CEO of Sweet July, her burgeoning lifestyle brand complete with a quarterly magazine and brick-and-mortar storefront and café. Since then, the Sweet July brand has expanded to include Sweet July Productions and Sweet July Books.
Troy Millings
Troy was born in the South Bronx and from an early age, music influenced his education. He taught for 16 years, and in the midst, realized there was a need to expand financial literacy education outside of the traditional classroom setting. With his lifelong friend Rashad Bilal, Troy started Earn Your Leisure, which has grown into one of the top business platforms in the world with its own podcast network, a top business podcast, and an online educational platform.
Rashad Bilal
From a young age, Rashad learned the importance of financial literacy and realized that he wanted to translate his knowledge into actions. After university, he became a financial advisor, and later, he and his lifelong friend Troy Millings started Earn Your Leisure. With three Top 100 podcasts under its umbrella and over 2 million followers, EYL is a revolutionary educational media platform giving rise to emerging and established creators from business, finance, and entrepreneurship.
The details
Over the course of one month, participants will gain valuable and actionable knowledge to apply to their business, spanning topics like managing finances and scaling growth. Participants will get exclusive access to self-guided training in addition to mentorship and 1:1 coaching sessions with an experienced executive who will work with them throughout the program curriculum.
FORWARD is for retail businesses with the following background:
- Business incorporation is registered under clothing & accessories, health & beauty, home goods & furniture, or food & beverage sectors
- Owned, operated by, founded by, or have a current CEO who identifies as Black/African American or Latino
- Based in the U.S.
- Have publicly launched and currently in the first three years of operation (i.e., cannot be in alpha, beta, or stealth)
- Reporting gross revenue within $25K – $500K
- Existing Square sellers or new prospects; new prospects must switch over to Square products within 60 days of completing the accelerator program
A total of 25 awardees will receive $20,000 each after completion of the accelerator program. Completion is achieved after participants finish all four lessons of the curriculum, weekly assignments, weekly meetings with coaches, and the final pitch deck competition.
The deadline for applications was April 1, 2023 and applications are now closed. Accepted participants will be contacted on April 10, 2023.
ABOUT SQUARE
THE COLLABORATORS
Program partner
Created by philanthropists, entrepreneurs, and NBA superstars Carmelo Anthony, Chris Paul, and Dwyane Wade to support critical and timely issues impacting the Black community.
Program sponsorAmerican Express is committed to backing the success of underrepresented businesses by providing access to funding, resources and tools to help further their impact.LEARN MORE ->
Curriculum partner1863 Ventures accelerates Black and Brown entrepreneurs from high potential to high growth through rigorous leadership training and strategic market access.LEARN MORE ->
JOIN US AT
THE FORWARD FORUM.
Open to the public and fellow business owners alike, join us in Miami for a day of celebration, community, and conversation.
1McKinsey & Company “Building supportive ecosystems for Black-owned US businesses” Oct 2020
2Fed Small Business “Small Business Credit Survey: 2021 Report on Firms Owned By People of Color” Jun 2021
3CNBC.com “Latino-owned businesses are seeing record growth. Big banks are still not funding them.” Feb 2021
4US Census “Census Bureau Releases New Data on Minority-Owned, Veteran-Owned and Women-Owned Businesses” Nov 2022