As a way to stimulate the number of minority-owned start-up businesses, Simple Innovations Inc. is excited to announce the launch of MIGS (Motivate, Inspire, Give, Succeed), a fund that will raise money through the sale of custom bracelets and award $1,000 grants to minority entrepreneurs to start, increasing grants as we become successful.
Just 1% of venture-backed founders in the U.S. are Black, and recent studies have shown that investors don’t prioritize investments in minority companies. As a result, cash flow and opportunities for development and expansion are limited. MIGS is dedicated to targeting investment opportunities for minority start-ups because they deserve the same opportunities for success.
Making it simple for anyone to invest, MIGS is offering bracelets at JoinMIGS.com, with 40% of each sale going toward the fund. Silicone bracelets are priced at $16 apiece and leather bracelets start at $20. Other products will also be offered in the near future.
“With increased opportunity for diversity and minority talent, the economy benefits exponentially, and the purchase of a bracelet is the first step in the MIGS journey for a fledgling minority start-up. We know that not only will these companies lead the way when it comes to bringing new products and ideas to market, but they’ll also be the companies paying it forward by supporting new minority businesses in the future,” said Simple Innovations Inc. CEO Vincent Smith.
Once enough money has been raised, candidates will be able to apply for a grant at JoinMIGS.com, and carefully selected entrepreneurs will receive access to the capital and resources they need to grow and flourish. Included with each purchase an E-book, how to launch an idea from scratch?
“We’re a minority-owned company ourselves, so we know the struggles involved in gaining backing and investment. When we launched, we realized just how hard it is for minorities to gain access to the support and funding they need in order to chase their dreams. Many entrepreneurs from minority backgrounds don’t get the opportunity, meaning their products never become a reality and their businesses never get built. That’s why we’re so passionate about empowering others,” added Smith.
About Simple Innovations Inc.
Based in Miami, Florida, Simple Innovations Inc. was formed by Vincent and Lommie Smith to design and sell innovative consumer products. Their latest offering is Titan Claw, a patented pooper scooper that brings a simple solution to a product that had not evolved in years.
Vincent Smith is a licensed pharmacist who has been designing and manufacturing products for over 10 years. Lommie Smith has over 10 years of experience in project management, cross regional supply chain process optimization and supply/demand forecasting.