Maesa Launches New Incubator for Underrepresented Beauty & Wellness Founders

In response to the ever-present entrepreneurial access gap, Maesa today unveiled a new incubator for early-stage beauty and wellness founders. Maesa says the effort aims to empower and amplify early-stage, underrepresented voices in the beauty and wellness sectors and provide them with the tools necessary to build successful brands from concept to aisle.

The Maesa Magic Incubator will give three beauty or wellness CPG startups an opportunity to partake in the curriculum that includes mentorship, hands-on education and funding. The start-ups must be pre-launch or have less than $100K in sales to-date.

“Maesa embraces the principle that investing in our communities yields shared rewards—and a little bit of magic,” noted CEO Piyush Jain. “By breaking down barriers and offering our proven expertise, the #MaesaMagicIncubator aims to create a more inclusive and diverse beauty industry, thriving on innovation and creativity.”

“Our mission with the Maesa Magic Incubator goes beyond brand creation,” added Oshiya Savur, chief brand officer of Maesa. “We are committed to empowering individuals and amplifying their unique voices. This program is about redefining what's possible and ensuring that every dream, regardless of its size or origin, has a chance to shine.”

The 12-week intensive curriculum has been tailored to bring their respective brand visions to life, according to Maesa. In addition, it offers admission into the “Future of Commerce and Work” program, hosted by the Emerson Group, located on-site at the Harvard Faculty Club.

The program culminates with a pitch deck presentation to an advisory board, comprised of Maesa executives, founder partners and leading industry experts, each providing feedback and tools needed to thrive in the CPG category.

Successful completion of the program will result in a $35,000 grant for each participant, according to Maesa, which was ranked No. 40 in Happi's newly published 2023 Top 50 Report.

The Entrepreneurial Access Gap

According to Maesa, the beauty and wellness industry has created an abundance of incubator programs for specific under-served populations over the past decade, but time and time again, early-stage entrepreneurs are ineligible due to a lack of revenue or inability to be shelf-ready.

The company shared these statistics:

• Almost half of female founders (48%) cite a lack of available mentors or advisers as holding them back, with only a third citing constraint to capital as a barrier.

• Women, Black and Latino entrepreneurs each receive less than 3% of venture capital funding.

• 75% of LGBTQ founders say they withheld their identity from investors in some form.

• 8 out of 10 BIPOC businesses fail within their first 18 months due to the lack of resources and funds.

• 50% of small businesses fail after five years; one of the major reasons for businesses failing is due to their inability to secure finances as well as running out of money.

The new program comes as Maesa marks its 25th anniversary. The company, which says it is the number one incubator in mass, is the engine behind brands including Kristin Ess, Hey Humans, TPH, Hairitage and ITK and others. 

In fact, Maesa has tapped Mindy McKinght of Hairitage and Brooklyn & Bailey McKnight of ITK to assist in the new incubator program. They will leverage their unique leadership acumen and hands-on industry knowledge, serving as mentor and member of the advisory board.

Maesa launched Hairitage in 2020. ITK, a skin care brand, debuted in 2022 with the McKnight daughters, who were well-known on social media.

“When I had the idea for Hairitage, I wanted to create an inclusive line for all hair textures, mirroring the modern needs of diverse families like mine. Maesa has been an incredible partner in bringing this line to life, and I know there are other inclusive beauty and wellness ideas out there, filled with potential, waiting to be discovered,’ said Mindy McKnight. “I can’t wait to see the next generation of beauty trailblazers shine through the Maesa Magic Incubator program and am honored to play a role in the curriculum.”

Bailey and Brooklyn McKnight said creating ITK skincare as like a “dream come true,” and they hope the new Maesa Magic Incubator program can be the same from other entrepreneurs.

“I am excited to be a part of the #MaesaMagicIncubator program, which is giving opportunities to new/young entrepreneurs who are eager to learn and grow their business. We were able to create a brand that not only represents us, but also the community we have built throughout the years, and we hope others will be able to do the same through the program,” Bailey McKinght added.

“Our main goal with ITK skincare has always been to keep our community ‘in the know’ on how to achieve healthy skin, without breaking the bank. The Maesa Magic Incubator program will be based on those same values of listening to others and bringing smart ideas to life,” said Brooklyn McKnight.

The company is using the hashtag #MaesaMagicIncubator across social.

The deadline for applications is September 1, 2023.