Maesa Launches Second Annual Maesa Magic Incubator Program to Empower Beauty and Wellness Entrepreneurs from Underserved Communities

Initiative Uniquely Tailored to Support Underrepresented Pre- and Early-Stage Entrepreneurs

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Maesa Magic Incubator Fact Sheet

NEW YORK--()--Maesa, the world’s #1 beauty incubator in mass, proudly announces a call-for-entries to the second cohort of its giveback initiative, the Maesa Magic Incubator program. The program first launched in 2023 to celebrate Maesa’s 25th anniversary and honor the company’s entrepreneurial roots. According to the Kauffman Foundation, women and/or BIPOC founders collectively receive less than three percent of venture capital funding. To bridge this gap, Maesa Magic Incubator aims to amplify and elevate beauty and wellness entrepreneurs from historically under-represented backgrounds, including those identifying as women and/or BIPOC, LGBTQIA+, differently abled, and seniors above 65. The program also welcomes and encourages entrepreneurs from low-income households. Last year’s Maesa Magic Incubator winners were Nikita Charuza, founder of Ayurvedic beauty brand Squigs Beauty; Keisha Wagner, founder of hair removal skin care brand Fuzz Clinic; and Selah Jael, founder of explorative fragrance brand House of Foster.

Through a combination of interactive lecture-based learning with personalized mentorship, hands-on training, and access to no-strings-attached grant capital of $35,000 for each winner, Maesa Magic Incubator equips participants with the necessary tools to build successful brands, from concept to aisle. Maesa Magic Incubator provides a transformative opportunity to three promising beauty and wellness entrepreneurs who are either in the pre/early-launch phase or have achieved less than $1,000,000 in sales to-date.

The program is designed to function as a fast-track, practical program that delivers real results to the winning cohort. Winners learn both foundational business principles in a core curriculum and are able to “major” and “minor” in tracks like Finance or Integrated Marketing to work on a project that tangibly impacts their business based on their specific goals.

Winners also receive admission into the coveted “Future of Commerce and Work” program, hosted by the Emerson Group, located on-site at the Harvard Faculty Club. As an additional benefit this year, winners will receive a graduation gift from Cosmoprof North America: an incredible opportunity to attend a fully-paid trip to Cosmoprof North America Miami in January 2025 and complimentary admittance to their illustrious Entrepreneur Academy.

The program will culminate with a pitch deck presentation to an esteemed advisory board comprised of Maesa executives, successful beauty and wellness company founders, and industry thought leaders and investors. This year’s advisory board includes Piyush Jain, Scott Kestenbaum, Mindy McKnight, Ashley Tisdale, Liraz Evenor, and Nyakio Greico.

“Having the opportunity to learn from veterans in the beauty space who had already helped build so many great brands was incredible,” said Charuza, referring to her experience as one of the 2023 winners. “Our mentors really tried to meet us where we were in our trajectories, which was so helpful. I walked away from the program with tangible feedback and tasks that I could immediately put to use as a small business.”

“Last year, the inaugural Maesa Magic Incubator program identified and worked with three founders who are crafting beautiful brands. We are so proud to have been a part of helping them through their journey.” said Piyush Jain, CEO of Maesa. “This program is the embodiment of Maesa’s entrepreneurial spirit and commitment to creating a more inclusive and diverse beauty industry. There are so many budding entrepreneurs working to meet unmet consumer needs and have their voices be heard. We’re looking forward to another opportunity to share some Maesa Magic and help their brands bloom.”

By nurturing diverse ideas, Maesa aims to stimulate innovation and foster economic growth, creating a ripple effect of shared success and satisfying unmet consumer needs. All interested, eligible entrepreneurs can apply to the #MaesaMagicIncubator program before August 23rd, 2024, by visiting Maesa.com/incubator-page.

About Maesa

Maesa is the world's #1 beauty incubator in mass, transforming the industry by incubating and growing meaningful, innovative brands and making prestige beauty accessible. We believe beauty ignites inspiration, creativity, imagination, and connection, sparking new ideas and possibilities, and meeting unmet consumer needs. Through best-in-class design, formulation, manufacturing, and marketing capabilities, we deliver new, better, and differentiated products with an unsurpassed speed to market. Maesa works with mass, drug, and specialty retailers to cultivate both private label and owned brands, including Kristin Ess Hair, Hairitage by Mindy McKnight, Fine'ry, Being Frenshe by Ashley Tisdale, Flower Beauty by Drew Barrymore, TPH by Taraji P. Henson, itk Skincare by Brooklyn & Bailey McKnight, Mix:Bar, and Kōze Place. For more information, visit www.maesa.com.

Contacts

Suhanee Patel, DeVries Global, spatel@devriesglobal.com

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Contacts

Suhanee Patel, DeVries Global, spatel@devriesglobal.com