Pronghorn, a company who anchor investor was Diageo North America and which is dedicated to expanding diversity within the alcohol industry by cultivating and investing in the next generation of Black founders, executives, and entrepreneurs in a sustainable and scalable way, said enrollment is now open for Pronghorn’s incubator and accelerator programs.
Black founders are eligible to submit their spirits brand for consideration and brands will be selected based on a variety of criteria. To learn more or apply for the Pronghorn initiative. visit www.PRONGHORN.co/.
According to Pronghorn research, while Black Americans represent 12% of alcohol consumers across categories, they make up just 7.8% of the sector’s labor force and 2% of executives in the industry. To address these issues, Pronghorn’s plan is two-fold:
- To address the employment gap, Pronghorn will work with the Black community to develop a pipeline of talent that will fill 1,800 roles within the industry; roles that will be committed to by suppliers, distributors, and retailers.
- To generate wealth and drive acquisitions, Pronghorn will serve as a hybrid incubator and accelerator, making capital investments in 57 Black-owned brands, while also providing supercharging capabilities that allow brands to leverage industry-leading knowledge and resources to realize their brand’s ambitions.