Deadline: 16-Aug-22
Applications are now open for the Thrive with Sainsbury’s, a free comprehensive 16-week incubator programme to help Black-led start-up businesses with a £1,000,000 commitment to supporting their transition to supermarket shelves.
Thrive with Sainsbury's is open to any food and drink business with a founder who identifies as being of Black ethnicity or heritage. They must have an exciting new product that Sainsbury's customers will love, an ambition to grow and scale up to supermarket level distribution and a vision for what the future of their brand could be.
Thrive is inspired by Sainsbury's recognition of the lack of diverse-led businesses on supermarket shelves and the unique barriers that they face. Whether its inadequate funding, limited access to social capital and networks, or limited industry knowledge and expertise, its tough launching a new brand on such a large scale without access to the right support.
Funding Information
- As part of the Thrive programme, the nine successful applicants selected will receive a welcome grant of £20,000, as well as more than 150 hours of practical 1:1 support and group learning opportunities with a variety of subject matter experts during the process.
- Each participant's journey will be tailored to their specific needs and there will be additional fundin g available at various stages throughout the process, up to the value of £105,000 per bran
Business Support
- Review: Consumer research to evaluate the brand & provide support to meet category needs
- Business Case: Receive coaching to better understand & manage the financial health of their business
- Development: Provide strategic input as the business creates a pathway to launch and scale
- Scaling: Support for long-term success as a Sainsbury's supplier
Eligibility Criteria
- The program is open to entrepreneurial food and drink businesses seeking to grow but facing one of many barriers that might be holding them back.
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Business
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Ready to scale in one or more of the following:
- Evidence of product traction
- Either seed stage or beyond
- Received investment
- Revenue generating
- A UK registered business with a corporate bank account
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Ready to scale in one or more of the following:
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Team
- Black-led: At least one founder or co-founder self-identifies as Black or of Black heritage
- Should be available to attend all the masterclasses over the 16-week period
- Should be available to meet with the program support team on a weekly basis (a mix of virtual and in-person meetings) and attend other program activities required for the benefit of the business
For more information visit Foundervine.
For more information, visit https://www.foundervine.com/sainsburys-thrive