Sia Scotch Whisky, founded by Carin Luna-Ostaseski, a Cuban-American entrepreneur, is reinstating The Entrepreneurial Spirit Fund by Sia Scotch for its second year. The fund provides entrepreneurs of color with the tools to allow them to build their companies and positively impact their communities, according to the company.
The grant program will specifically empower food, beverage, and hospitality small businesses, a sector disproportionately affected by COVID-19. Eleven grant winners will receive $10,000 each in addition to mentorship services.
“As an entrepreneur from a historically underrepresented and underserved community, gaining access to funding and mentorship during my startup journey was always an uphill battle,” said Luna-Ostaseski in a statement. “The food, beverage, and hospitality space is very competitive, and I know from firsthand experience how game-changing support can be. SIA Scotch Whisky was born out of my perseverance and passion, and to this day our purpose is to inspire other entrepreneurs of color to achieve the unexpected–just like I did.”
The fund is launching in partnership with Hello Alice, a Latina-owned free platform helping small businesses launch and grow.
“Entrepreneurs of color are an economic force in the U.S and recognizing their impact in our communities is of great importance,” said Elizabeth Gore, co-founder and president of Hello Alice, in a statement. “In our most recent survey, 89% of small business owners claim access to capital is limiting their business growth potential. Along with our partner SIA Scotch Whisky, we are excited to continue this groundbreaking grant program to help support this underserved community and provide the resources, tools, and additional exposure that these businesses need to succeed.”
The fund is in line with the company’s commitment to donate a portion of its sales to organizations that support underrepresented entrepreneurs, who tend to face more obstacles when raising capital.
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