Spots in accelerator and mentorship programs are often coveted by emerging beauty brands trying to build networks, expand distribution and fine-tine their businesses. To learn about getting into them, for this edition of our ongoing series posing questions relevant to indie beauty, we asked 19 beauty brand founders and investors, including accelerator participants and leaders: What should founders consider when applying for these programs, and how can they stand out in the sea of applicants?
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Niambi Cacchiolo Founder, Pholk Beauty and Target Takeoff participant Understand your point of difference is first and foremost. If you're inspired by other brands, that's wonderful, but they already have those brands on the shelf. Also, showcasing how your product and your brand or your values—whatever your superpower is—really connects to a consumer base that they want to reach, but they haven't yet.
Show a new point of view and demonstrate how you're bringing that point of view into the retailer and bringing that customer base into the retailer.
- Sandra Velasquez Founder, Nopalera and Bridge Mentorship participant
Having been selected for four different beauty cohorts and accelerators in the last year (Credo, Target, True Beauty Ventures' [Bridge Mentorship] and Clean Beauty Summer School), my advice for other founders interested in applying to these programs is to have a strong brand positioning.
It’s not enough to be clean, vegan and cruelty-free. The brand and founder have to be rockstar quality. As a founder, you need to be able to answer the following question: Why does your brand need to exist and who is it for?
- Shuting Hu Founder and Cosmetic Scientist, Acaderma and Sephora Accelerate participant
In 2018, I had the honor of participating in the Sephora Accelerate program and was selected as the first entrepreneur from Asia. The program was so eye-opening as I ventured out to establish my brand, Acaderma, through scientific research and the unharnessed potential of botanicals.
The advice I would give to other founders who are looking to participate in accelerate programs is to tell your story and share why you are here and how you are different from others. In order to stand out, you must first determine why your brand is a good fit for these programs and how it will benefit your business and your community.
While you are in these programs, it’s important to enjoy this learning process. No one learns everything at once, it’s a gradual development and we all learn from one project to another.
- Fiona Chan Founder and CEO, Youthforia and Bridge Mentorship participant
I think that it's excellent that more information is available to first-time founders through these accelerator and grant programs. We participated in Beauty Independent's and True Beauty Venture's Bridge Mentorship Program as part of its first cohort. As a first-time founder who hadn't come from the industry, I learned a lot from participating and our business grew a lot during the duration of the program.
My advice for other founders applying to these accelerators or programs is to think about what you want to get out of the program. There are many different programs and you'll want to apply for the programs that best aligns with your business goals, where you can leverage the expertise of those running the program to help grow your business.
There is a time commitment required as a founder to participate, so it's something to think about when you have a million other things on your plate. My advice for standing out is to talk about what made you so passionate about your starting your business and why are your products different from what's out there.
- Margarita Arriagada Founder, Valdé Beauty and Valdé Latinx Grant
I have reviewed many brand applicants for grant programs along with my own Valdé Latinx Grant. What I would offer is for founders not to take for granted the opportunity to stand out in every single way shape or form. The baseline is clarity around what needs is the brand filling or how differentiated is the product proposition.
To stand out, every aspect of the brand, from the narrative, its tone/voice, brand identity, community build, packaging, founder story, and delivery is critical. I would underscore that doing the prep homework is worth every effort placed.
- Kiku Chaudhuri Co-Founder, Shaz & Kiks and SKU partipant
The beauty space is competitive, and getting more and more competitive by the day. It depends on what the accelerator program is and how it's structured. Some do factor in revenue and sales as a part of their decision-making, so always good to know what performance expectations there are before you apply.
Also, make sure that you research the structure and objective of the program—will there be equity taken, fundraising-focused, retail-focused, early-stage, etc.—and make sure that it is aligned with exactly what you and your company need.
There are great options out there, but really focus on what you need additional support in and make sure the accelerator will help you get there.
- Desiree Verdejo Founder, Hyper Skin and Sephora Accelerate participant
There is a lot of money in teaching founders how to be founders. While it can be difficult to cut through the noise, I think it's a great idea to focus on accelerators directly linked to your area of expertise with credible brand and expert partners. I personally completed Sephora's Accelerate in 2020 as it was my goal to be carried by the retailer and to build relationships and learn from other founders, executives, experts and investors within their universe.
One thing that I was very wary of were accelerators that took a percentage of my business. While I know that this is a common model based on traditional tech accelerators, the valuations and growth trajectories for beauty businesses are much lower and I found it harder to find justification for giving away a portion of my business.
When pitching Hyper Skin to be accepted in a business accelerator program, because I focused on beauty-specific programs, I gave a brand/market-fit pitch and also included details that I would include in an investor deck relating to our growth trajectory and unique market potential. Most accelerators are promising you that, with their guidance, your business could experience great growth, so our overall pitch was that Hyper Skin is uniquely poised to grow in all areas.
- Connie Lo Co-Founder, Three Ships Beauty and Lazaridis ScaleUp participant
When applying for an accelerator, take time to research articles, their website, and speak with other founders who were previously enrolled in the accelerator. For example, in our interview with the Lazaridis ScaleUp Program, which accepts only 10 companies a year, we spoke to their incredible offer of 120 free mentorship hours with top mentors in the supply chain, finance and retail.
We drilled further and learned that those hours were shareable among your team, which really set apart that accelerator from most, where mentorship is given only to the founders. In our interview, we spoke in-depth about this as the reason we wanted to partake in their program, which I believe helped us greatly!
With grants, I recommend getting really granular with where the funds will be used and ensuring it's in areas that could not be easily subbed with debt funding or loans.
- Priyanka Ganjoo Founder, Kulfi Beauty and Sephora Accelerate participant
I participated in the Sephora Accelerate and Gold Rush Accelerator in 2021. Both programs enabled me to build a strong community of entrepreneurs that I continue to reach out to as we build our companies. Sephora's commitment to launch Accelerate brands has been a game changer for Kulfi.
My advice for founders when applying would be: 1) Present your big-picture vision and the value it would add to your space. 2) Build your case for why your company's mission is aligned with the purpose of the accelerator. 3) Finally, show traction towards your vision through community and content on social media, reviews, waitlists and product samples, if not in production.
- Brianna Arps Founder, Moodeaux
I'm a big proponent of transferable skills, so much so that I don't sweat not having a formal background in business. What I do have is a journalism degree, valuable marketing experience and a passion for storytelling.
Thus, my advice is really two-fold: 1) Focus less on the things you may perceive as being "weaknesses" and more on what you're really really good at. 2) Own your unique founder/brand/product/etc., story and learn how to "regurgitate" it in a compelling, concise way that appeals to the specific platforms you're applying through.
This is how I've managed to win grants and acceptance into the accelerator programs Moodeaux has been a part of, and it's what continues to set us apart from the crowd.
- Cary Lin Co-Founder, Common Heir and Credo for Change participant
From our point of view, the availability of these programs and grants has overall increased access to critical information, resources and networks for founders —and might be especially valuable if you don't have prior industry experience.
In our experience, "standing out" means having a great fit for the accelerator or grant. Most of them are pretty upfront about who they're for, what their values are and their overall goals. Understanding and being able to speak to why your brand helps further the goals of these programs and is in strategic alignment with their values, whether it's been designed as a retail accelerator, education, and networking, and/or providing capital to businesses and founders who are underrepresented, can really help.
It can also be helpful to reach out to prior founders who have been part of the program to get a better perspective as to what they're looking for, even though it might evolve from year to year.
We were part of Credo Beauty's first Credo for Change accelerator, which had a large focus on education and networking. It was a great fit for us, and being part of that community of brands/founders has been invaluable as we've stayed in touch, supported and helped each other out. This year, they're opening up access to the program to all who apply and meet their criteria, and we look forward to seeing the impact of that!
- Camille Bell Founder and CEO, Pound Cake Cosmetics and Glossier Grant recipient
With more accelerator and grant programs available, the competition is more fierce. My first piece of advice is to always include a video of yourself pitching your brand regardless if it’s required or not. The one thing that I’ve always done is unapologetically express our values/mission/audience, even when we knew it could drastically decrease our chances of being selected if reviewed by the “wrong” person.
The only way to really stand out is by being something nobody else is: yourself. Companies want to diversify their recipient portfolios, so let your unique and thoughtful voice shine through.
Bonus recommendation: A lot of these grant recipients have inside connections with folks that run the accelerator/grant programs, so try to be imaginative with ways of circumventing that. Networking before applying may be a good start.
- Trinity Mouzon Wofford Co-Founder and CEO, Golde and Target Takeoff participant
As an entrepreneur, it's critical to have your brand story and vision really clearly articulated. Most accelerator and grant programs are for early-stage businesses, so it's unlikely that you'll be judged primarily on metrics. These programs are looking for stand-out founders with a clear vision for the "why" behind their brand, and how it will scale over the long term.
Always put yourself in the shoes of those who will be reviewing your application. What does this accelerator or grant program get out of having you in their cohort? Articulate the value that you as a founder and your brand will bring to their efforts.
- Divya Gugnani Co-Founder and CEO, Wander Beauty
It's important to find the program that fits your brand best. Consider factors such as your positioning and price point when choosing a program to apply to.
For example, if you are a prestige beauty brand, Sephora Accelerate might be a fit. But if you're positioning your brand as masstige, Target's accelerator may be a better choice.
The best way to stand out is to have a brand with a unique point of view and a product that solves a problem. These programs are tapping into passionate founders with differentiated brands whose products have a reason to exist in an already competitive space.
- Anne Beal Founder and CEO, AbsoluteJOI and The Workshop at Macy's participant
I’ve applied to a lot of programs and have definitely gotten more rejections than acceptances! But I think it is worth applying, and if you do not get the opportunity, look at the businesses that got accepted and ask what made them different from yours, and why did the judges accept them?
I recently won two awards that I applied for last year and did not get, which gave me time to work on my business to make sure it is a better fit with the sponsors, and it also allowed me to reapply and submit successful applications. I think fundamentally judges are looking for three things:
1) Is this business presenting something different? It may be a different approach to a problem or a different take on an issue, but is it unique in the market? Rarely is it about the formulas for the products, which is where we founders spend most of our time, but it is about the perspective we bring to a problem or the customers we are serving.
2) Is there evidence of traction in the market? The easiest metric is sales, but is there any evidence that the issues you are addressing resonate with customers or potential customers? It can also be social growth, increases in revenue, repeat customer rates—anything that shows the problem you are addressing resonates.
3) Is this the team that can execute the proposed plan? [Provide] any examples you can show of previous entrepreneurship, ability to set a vision, bringing others along or executing on the idea. People want to know you and your team can do what you say you will do.
The last consideration is fit with the sponsor. Try to understand why the sponsor is promoting an accelerator. Are they looking for new products for their stores? Do they want to invest in growing businesses? Do they have a specific view on the problem you are solving?
Understanding what motivates—and will excite—the sponsor will help you to decide if your brand is a good fit with their priorities and allows you to highlight the features of your brand and brand story that aligns with their strategies.
- Cristina Nuñez Co-Founder, True Beauty Ventures and Bridge Mentorship
First and foremost, your brand and business are the priority. There are many new programs out there—accelerators, grants, mentorships—and they each have their own benefit, but make sure that you are not sacrificing too much of your finite time on applying and participating in various programs at critical points when your business needs you.
If you feel like you are able to dedicate the time, then I would focus on the programs that you think will add the most value and are the best fit for your business, that way you can better articulate your reason for being selected. Let your personality and passion come through as a founder in your application and in your conversations with the champions at these programs.
With our Bridge Mentorship program, for example, we ask questions to try to get to know a founder: What is their superpower and who/what motivates them? Remember that these programs are a two-way street. In order to be successful, both sides have to be highly engaged, good listeners and able to execute quickly, so make sure this comes through for you.
Another piece of advice I would give when applying to these programs is to demonstrate that you not only have a differentiated brand and unique positioning, but that you have a viable business model with some proof points to date and a growth plan for the future. Show that you have created momentum, that you have good business judgment, and that you can navigate the ups and downs of entrepreneurship.
Lastly, don’t get discouraged if you aren’t selected the first time around, persistence is always a good strategy!
- Akash Mehta Co-Founder, Fable & Mane
Brands that have a higher chance of being accepted to accelerator programs tend to have a unique positioning and offering that go beyond great product ideas. What stands out in general in beauty is always around why the brand’s business proposition is so unique in the field. But this doesn’t always standalone. As a mentor on many programs myself, I am always looking for a strong founder story that is authentically real. How this is being articulated effectively through impactful storytelling, brand DNA and positioning is always important for cut-through in a very crowded and competitive market.
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There are countless accelerator programs. Many of them emphasize different things, whether it be a certain industry, a certain growth stage or specific tactical learnings. Success in applying really comes down to fit: Why are you and your company a fit for their curriculum and culture They want to be helpful to you and for you to be fully engaged.
For Needed, we completed two accelerator programs, and both were great fits. The first was Launchpad within Stanford University’s design school when we were just getting started and the second was the Ad Astra Ventures' founder bootcamp shortly after we launched Needed.
Launchpad emphasized really understanding who your target consumer is and what their needs/pain points are, i.e., start with the problem and then test possible solutions. Our name, Needed, ultimately evolved from this focus, as really understanding and meeting the needs of women at the perinatal life stage is our main focus. We constantly revisit early learnings from the program around need finding and intense customer focus.
Ad Adstra focused on equipping female founders to build, run and scale startups. We loved the female-specific emphasis and the community we built with similarly staged female founders going through the program.
The program also helped us 1) refine how we communicated why our offering was different/better than other possible solutions for our consumers’ needs, and 2) find capital to scale that aligned with the mission orientation of our business, both of which were very helpful around the launch of Needed.
For new founders who are searching for these types of programs, we suggest networking with other entrepreneurs and investors in your space and asking what they have heard and seen that has helped businesses growth.
- Tiffany Faith Demers Founder and CEO, Upkeep
Decide whether you’re looking for a community accelerator or investment accelerator. Do you need money to kick off your business, or do you need access to peer networking with other founders?
Investment may seem like the better choice but, in my experience, it is quite the opposite. The network groups can make introductions that are immensely beneficial to your company without them taking any equity in it.
Be sure of the value they can provide and what stage you’re at with your company. The equity component and dilution from most incubators and accelerators are only worth it if you’re pretty much pre-launch with no traction or product-market fit.
Some of the accelerators are worth it later on if you’re looking for an easy fundraising process that has the “stamp of approval” of specific accelerators to get you easier access to funds. I did the first community accelerator pre-launch and closed a pre-seed check soon after, so I decided an investment accelerator wasn’t a good fit for me and would cause unnecessary dilution when I was able to raise with VCs with the traction I had at the time.
Also, know that you can say no even if you get accepted if the terms aren’t right. I've done this twice!
If you have a question you’d like Beauty Independent to ask beauty entrepreneurs and experts, please send it to editor@beautyindependent.com.
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