Ferrero North America, in partnership with the US Black Chambers, Inc., has announced its 2024 Famous Amos Ingredients for Success Entrepreneurs Initiative, an annual national program in its fourth year that provides a capital award, resources and mentorship services to Black early-stage businesses. The program invites eligible start-up businesses to apply for the opportunity to receive a $50,000 award online through August 4.

Eligible businesses must be at minimum 90 percent Black-owned, in business for five years or less and headquartered in the United States. The businesses must be owned by individuals 21 years or older. To be considered, applicants must submit a 90-120 second pitch video that explains why they should receive the $50,000 award for their business. This year’s winners and finalists will join an established network of entrepreneurs who have grown their businesses with the help of the program.

“Ferrero North America and Famous Amos continue to support the Ingredients for Success program in its fourth year to honor the legacy of Wally Amos,” says Rachna Patel, vice president of marketing for Famous Amos. “The purpose of Ingredients for Success is to help Black-owned businesses grow and ensure they are equipped with resources that lead to long-term success. We look forward to continuing to make an equitable impact on the Black business community with the help of our partner this year, the US Black Chambers, Inc.”

The US Black Chambers, Inc. will serve as the community partner of Famous Amos in the fourth year of the Ingredients for Success Entrepreneurs Initiative. The partner’s support for the program includes a range of services designed to assist entrepreneurs, including workshops, mentor pairing, educational resources and more.

“The U.S. Black Chambers is proud to bring our vast experience in supporting and uplifting Black business – from advocacy to mentorship – to the Famous Amos Ingredients for Success network,” says Ron Busby Sr., president and chief executive officer of the US Black Chambers, Inc. “Ingredients for Success has impacted nearly 10,000 entrepreneurs so far with its mission to reach and empower start-up Black businesses. As the National Voice of Black Business, we are committed to providing even more Black business owners with the benefits of the program and access to additional resources and support so that this strong community of leaders has everything they need to reach their potential.”

At the close of this fourth program cycle, three grand-prize winners will be selected by a panel of renowned Black entrepreneurs including Steve Canal, Grant Warner and Kendra Bracken-Ferguson to receive an award of $50,000 in capital business funds, wrap-around business resources and services, as well as publicity. There have been three previous program cycles since 2021, so far awarding $450,000 to a total of nine winners. Each year, the program receives more than 2,000 applications for review and consideration.