{"id":1173240,"date":"2022-11-30T13:00:23","date_gmt":"2022-11-30T19:00:23","guid":{"rendered":"https:\/\/www.snkrsday.com\/?p=1173240"},"modified":"2022-11-30T14:32:07","modified_gmt":"2022-11-30T20:32:07","slug":"adidas-cultivate-bloom-amplifies-black-and-latinx-entrepreneurs","status":"publish","type":"post","link":"https:\/\/www.snkrsday.com\/adidas-cultivate-bloom-amplifies-black-and-latinx-entrepreneurs\/","title":{"rendered":"adidas Cultivate & B.L.O.O.M. Amplifies Black and Latinx Entrepreneurs"},"content":{"rendered":"\n

At the beginning of 2022, adidas<\/a><\/strong> debuted its latest social program, Cultivate & B.L.O.O.M.<\/strong> (Building Legacies Out of Movements) — an initiative that gives entrepreneurs of color the tools and resources they need to succeed. To expand on Cultivate & B.L.O.OM.’s mission, adidas now commits to elevating, funding, and co-creating with entrepreneurs that are changing their communities. Adidas hopes to further close the opportunity gap that exists for Black and Latinx social entrepreneurs by accelerating their growth and helping them to maximize their impact.<\/p>\n\n\n\n

Through a careful selection process, adidas has chosen eight Black women and social entrepreneurs to participate in the first-ever Cultivate & B.L.O.O.M. cohort<\/strong>. The cohort began in July 2022 and will graduate in March 2023.<\/p>\n\n\n\n

For adidas, it was important that Black women be the focus for the first Cultivate & B.L.O.O.M. cohort being that Harvard Business Review reported<\/a> that 17% of Black women are in the process of starting or running new businesses, compared to 10% of White women, and 15% of White men. Despite this early lead, only 3% of Black women are running mature businesses.<\/p>\n\n\n\n

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\u201cAt adidas, we are committed to changing lives through sport, and are excited about the opportunity to\u2013 through Cultivate & B.L.O.O.M.\u2013 start to address and remove systemic barriers Black & Latinx community change-makers on the rise face. This is just the beginning, with so much more to do.\u201d <\/p>\nAyesha Martin, Senior Director Purpose, Communities & Social Impact at adidas<\/strong><\/cite><\/blockquote>\n\n\n\n

During the nine month program, the entrepreneurs have access to a tailored portfolio of resources and opportunities from within and outside of the adidas network that will help them to accelerate their business. These resources include a $100,000 grant, access to industry experts, mentorship, office hours workshops, fireside chats with CEOs and creatives, and visibility into adidas\u2019 partners.<\/p>\n\n\n\n

After graduating from the program, participants become a partner in the \u201cInnovation Network\u201d, a network of social impact partners that seek to drive forward change within their communities and organizations. This portfolio of partners will enable adidas to continue strengthening the diversity of our partnership network, increase our reach within key markets and deepen our relationships over time. In addition, each cohort member is also plugged into the adidas Community platform and given a 1-year subscription to Ureeka<\/u><\/a><\/strong>, a small business growth engine.<\/p>\n\n\n\n

The next adidas Cultivate and B.L.O.O.M.<\/strong> cohort will kick off in 2023 and be dedicated to empowering Latinx social entrepreneurs. The cohort application period will open in June. To participate, entrepreneurs must be at a company or organization that’s based in Portland, within early-stage development (first 1-3 years), and have at least one Black and\/or Latinx founder. Adidas also asks that the applicants have a purpose that is aligned with equality and safety in sport, at the intersection of community and creativity.<\/p>\n\n\n\n

Check out the first adidas Cultivate & B.L.O.O.M. cohort<\/strong> below:<\/p>\n\n\n\n