Famous Amos awards $50,000 each to three emerging entrepreneurs across the beauty, music and gaming industries

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Famous Amos

Sep 24, 2024, 08:01 ET

Annual initiative honors founder Wally Amos' legacy by supporting the next generation of Black business owners

CHICAGO, Sept. 24, 2024 /PRNewswire/ -- Famous Amos has announced the winners of the Ingredients for Success Entrepreneurs Initiative (IFS), now in its fourth year. IFS is an annual program that provides $150,000 in capital and ongoing resources to a talented cohort of early-stage, Black entrepreneurs. The program honors the legacy of the late Wally Amos, creator and founder of Famous Amos cookies, who in the 1970s became a household name for aspiring business owners across America.

This year's Ingredients for Success grand prize winners include:

The capital amount awarded to the selected entrepreneurs through Ingredients for Success program brings to life the eager self-starter spirit Amos put forth. This year's program winners were selected due to their savvy and promise, as well as the overall viability of their business model.

"The Ingredients for Success program is a way for the Famous Amos brand to pay tribute to our history while championing rising entrepreneurs with much needed capital and mentorship," spoke Rachna Patel, VP of Marketing for Famous Amos. "Ingredients for Success has so far awarded $600,000 to twelve Black-owned businesses across the country and we look forward seeing to all of their future accomplishments."

IFS winners receive $50,000 and an exclusive membership with the U.S. Black Chambers, Inc. (USBC) to advance the growth of their operations. The award benefits partially emulate the support Wally Amos secured in the early days of his own snack business endeavor. Mentorship, education and resources provided by the USBC are key components of the Ingredients for Success program since they help counteract the factors that lead a fifth of all U.S. small businesses to close within their first year. 

"This year's Ingredients for Success award winners are perfect examples of the excellence and passion that we believe will drive their journeys towards phenomenal business success," said program judge Steve Canal. Canal, an accomplished businessman, was joined by fellow esteemed entrepreneurs Kendra Bracken-Ferguson and Grant Warner to select the three winning applicants. Ten finalists were selected out of more than 2,800 applicants, with the final three rising to the top as award recipients.

Although there are only three grand-prize winners, all finalists become members of the Ingredients for Success Alumni Network. This network receives a variety of invaluable business resources, training and engagement opportunities beyond the active program cycle. "We've seen remarkable accomplishments from our alumni network over the years," continued Patel. "We're eager to see what Ingredients for Success alumni achieve next."

The 2023 winners of the Ingredients for Success Entrepreneurs Initiative include Eartha Watch Company by Emir Horton, TCB Drones by Steffanie Rivers and The Language Arc by Londyn Jackson. While all winners have gone on to successfully scale their operations, in the last year, Horton's business specifically was able to launch a new collection and hit its six-figures sales projection.

For more information on this year's Ingredients for Success winners and finalists, please visit the website at FamousAmosIngredientsForSuccess.com.

About Famous Amos
Famous Amos has been a beloved brand since 1975, known for its classic chocolate chip cookies. Founded by Wally Amos, an African American entrepreneur, Famous Amos grew from a bakery in Hollywood, California into a company serving millions of customers across the United States. In 2020, Famous Amos began a major philanthropic effort, the Ingredients for Success Entrepreneurs Initiative. The initiative is a part of the brand's efforts to support racial equity, give to social causes, deepen diverse vendor partnerships, and concentrate on an inclusive and diverse work culture.

About Ferrero®
Ferrero began in the small town of Alba in Piedmont, Italy, in 1946. Today, it is one of the world's largest sweet-packaged food companies, with over 35 iconic brands sold in more than 170 countries. The Ferrero Group brings joy to people around the world with much-loved treats and snacks including Nutella®, Kinder®, Tic Tac®, and Ferrero Rocher®. More than 47,000 employees are passionate about helping people celebrate life's special moments. The Ferrero Group's family culture, now in its third generation, is based on dedication to quality and excellence, heritage and a commitment to the planet and communities in which we operate.

Ferrero entered the North American market in 1969 and has grown to more than 5,400 employees in 15 plants and warehouses, and eight offices in North America across the United States, Canada, and the Caribbean. It has expanded its presence and portfolio with the addition of iconic brands such as Butterfinger®, CRUNCH®, Keebler®, Famous Amos®, Mother's Cookies®, and other distinctive cookie and chocolate brands. Follow @FerreroNACorp on Twitter and Instagram. www.ferreronorthamerica.com.

SOURCE Famous Amos

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