To-date, SIA Scotch Whisky has Donated Over
$350,000 to Minority Entrepreneurs,
Helping Them Challenge Conventions and Achieve the
Unexpected
NEW
YORK, Aug. 1, 2022 /PRNewswire/ -- SIA Scotch
Whisky, an award-winning spirits brand founded by first-generation
Hispanic entrepreneur Carin
Luna-Ostaseski, is bringing back The Entrepreneurial
Spirit Fund by SIA Scotch for the second consecutive year. The
groundbreaking initiative provides entrepreneurs of color with
access to the capital and mentorship that will help them take
action, build stronger companies and have a positive impact on
their communities.
This year, the grant program will focus on growing businesses
specifically within the brand's own world – the food, beverage, and
hospitality sector [1]. This space has been
disproportionately impacted by COVID-19, and its small business
owners continue to face massive barriers, such as adapting to
consumers' ever-evolving preferences and spending behaviors,
adjusting to increased at-home demand, and facing supply chain
disruptions. As a brand built from the ground up, SIA Scotch Whisky
truly understands the importance of supporting these
often-overlooked small business owners along their entrepreneurial
journeys.
"As an entrepreneur from a historically underrepresented and
underserved community, gaining access to funding and mentorship
during my startup journey was always an uphill battle," said
founder Luna-Ostaseski. "The food, beverage and hospitality
space is very competitive, and I know from firsthand experience how
game-changing support can be. SIA Scotch Whisky was born out of my
perseverance and passion, and to this day our purpose is to inspire
other entrepreneurs of color to achieve the unexpected – just like
I did. I am so proud of The Entrepreneurial Spirit Fund and its
continued commitment to paying it forward."
However, success is not easy to come by. Entrepreneurs of color
tend to face more obstacles when it comes to raising capital and
are far more likely to get shut out of financing completely.
Despite approximately 18.7% of all U.S. businesses being
minority-owned [2], representing over 50% of
new businesses started and creating 4.7 million new jobs, this
group is still largely excluded in funding – receiving only a 2%
share of venture capital annually over the last decade
[3].
The Entrepreneurial Spirit Fund by SIA Scotch is inspired by
Carin Luna-Ostaseski's
entrepreneurial journey and launches in partnership with Hello
Alice, a free online platform that connects its community of nearly
one million small business owners with the capital, tools and
education they need to grow their businesses.
"Entrepreneurs of color are an economic force in the U.S and
recognizing their impact in our communities is of great
importance," said Elizabeth
Gore, co-founder and President, Hello Alice. "In our
most recent survey, 89% of small business owners claim access to
capital is limiting their business growth potential. Along with our
partner SIA Scotch Whisky, we are excited to continue this
groundbreaking grant program to help support this underserved
community and provide the resources, tools and additional exposure
that these businesses need to succeed."
The Entrepreneurial Spirit Fund by SIA Scotch will
award $10,000 grants to 11 qualifying entrepreneurs who
self-identify as people of color, for a total of $110,000. To
apply, visit https://hialice.co/siascotchfund now through
Sept. 26, 2022. To be eligible,
business owners must be 25 years of age or older (as of
November 1, 2022) and a legal U.S.
resident. Businesses must be owned 51%+ by person(s) of color, a
for-profit business producing less than $5M in annual gross revenue, not be an alcohol
beverage wholesale or retail license holder or a business which
makes/distributes/imports alcohol, and must operate and/or conduct
business in at least one of the following states: CA, CO, CT, FL,
GA, IL, MA, MN, NJ, NV, NY, RI and/or TX. For complete eligibility
criteria and important restrictions, visit the application site and
terms & conditions. The final grant recipients will be
announced on Nov. 1,
2022, kicking off National Entrepreneur Month.
The Entrepreneurial Spirit Fund is a continuation of SIA
Scotch Whisky's nearly decade-long commitment to donating a portion
of sales to organizations that help support underrepresented
entrepreneurs – the dreamers, movers and shakers who are shaping
the future. When getting into the entrepreneurial spirit or
when sipping on actual spirits, SIA encourages consumers of
legal drinking age to drink responsibly.
About SIA Scotch Whisky:
SIA is an unexpected blend for the modern palate and everything
you'd never expect from a scotch whisky. Since its launch on the
crowdfunding site kickstarter.com in 2012 and appearing on shelves
in 2013, SIA Scotch Whisky has been challenging conventions and
inspiring others to achieve the unexpected. As one of the first
scotch whisky brands in history to be launched by a Hispanic
entrepreneur, SIA has an approachable taste profile that features
warm vanilla, salty-sweet caramel, refreshing citrus, clover honey,
buttery toffee, and just a hint of smoke. Distilled, blended,
matured, and bottled in Scotland,
SIA Scotch Whisky is a multi-award-winning brand, scoring an
impressive 96 points at the Ultimate Spirits Challenge (2016) and a
Double Gold at the prestigious San Francisco World Spirits
Competition (2014) - and called "one of the best in its style" by
Whisky Advocate Magazine (2015). SIA is delicious in cocktails,
neat or on the rocks, and is best served in places and spaces where
potential is poured and friendships are celebrated. Look for SIA
Scotch Whisky on ReserveBar.com, as well as in your local liquor
stores, restaurants, and bars. For more information follow us on
Instagram @SiaScotchWhisky or visit our website
siascotchwhisky.com.
About Carin
Luna-Ostaseski:
In a terrific twist of fate, 1st generation Cuban
American Carin Luna-Ostaseski set
out to create a Scotch Whisky brand that would change the way
people think about the category. She decided to seek these new
horizons in the form of a grand tour of her local whisky purveyor –
300 bottles of whiskies and countless tasting events later, she
became a dedicated student of this sublime spirit. Carin eventually
left her 17-year career as a Creative Director and successfully
funded SIA Scotch Whisky on kickstarter.com, pursuing her dream of
becoming a successful entrepreneur and one of the first Hispanic
people in history to create a Scotch Whisky company.
About Diageo:
Diageo is a global leader in beverage alcohol with an
outstanding collection of brands including Johnnie Walker, Crown Royal, Bulleit and
Buchanan's whiskies, Smirnoff,
Cîroc, and Ketel One vodkas, Casamigos, DeLeon and Don Julio tequilas, Captain Morgan,
Baileys, Tanqueray, and Guinness.
Diageo is listed on both the New York Stock Exchange (NYSE: DEO)
and the London Stock Exchange (LSE: DGE) and its products are sold
in more than 180 countries around the world. For more information
about Diageo, its people, brands, and performance, visit
www.diageo.com. Visit Diageo's global responsible drinking
resource, www.DRINKiQ.com, for information, initiatives, and ways
to share best practices. Follow Twitter and Instagram for news and
information about Diageo North America: @Diageo_NA.
About Hello Alice:
Hello Alice is a free, multichannel platform that helps
businesses launch and grow. With a community of nearly 1M small business owners in all 50 states and
across the globe, Hello Alice is building the largest network of
owners in the country while tracking data and trends to increase
the success rate for entrepreneurs. Our partners include enterprise
business services, government agencies, and institutions looking to
serve small- and medium-business owners to ensure increased
revenues and promote scale. A Latina owned company, founded
by Carolyn Rodz and Elizabeth Gore, we believe in
business for all by providing access to all owners including women,
people of color, veterans, and everyone with an entrepreneurial
spirit. To learn more, visit www.helloalice.com, as well
as Twitter, LinkedIn, Instagram,
and Facebook.
1 Food, beverage, and hospitality industry
includes businesses who offer products and services such as:
kitchenware, glassware, barware, cocktail mixers, at-home
entertaining/party planning, food trucks, cafes, food and beverage
blogs, recipe curation and more. Businesses which hold an alcohol
beverage wholesale or retail license and those which
make/distribute/import alcohol are ineligible. There is a strong
preference for applicant businesses to be involved in the food,
beverage, and hospitality industry, but not a requirement.
2 Source: U.S Census Bureau; Annual Business
Survey 2020
3 Source: Hello Alice
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SOURCE SIA Scotch Whisky