Deadline: Unspecified
Applications are open for the McKinsey Next 1B Program 2024. With a rising demand for inclusivity on retail shelves, consumers in the United States are urging companies to support Black-owned brands, suppliers, and vendors. Despite this, McKinsey’s research suggests that Black-owned brands encounter outsized challenges to scaling and being able to meet this demand.
As part of McKinsey & Company’s 10 actions toward racial equity, they created the Next 1B program to support these businesses on the path to “unicorn” status—that is, attaining an equivalent company valuation of one billion dollars or more.
The program brings together the best of McKinsey professional development and industry expertise—in collaboration with an unrivaled network of successful Black founders, major retailers, and investors—to help Black-owned brands unlock the next phase of growth.
Benefits
- Get access to McKinsey’s expertise and resources to support business growth and scaling
- Get the opportunity to connect with a network of successful Black founders and industry leaders.
Eligibility
- The program is open to Black-owned brands in the U.S. that are seeking to scale and grow their businesses.
- Eligible businesses are typically more than one year in maturity with anywhere from $250k-$5M in annual revenue, and sells consumer products.
Application
There is no specific application deadline mentioned, as this appears to be an ongoing program.
For more information, visit Next 1B program.
