Cosmopolitan launches The New C-Suite, honoring women of color entrepreneurs

Hearst Magazines’ Cosmopolitan and nonprofit group Digitalundivided are today launching The New C-Suite, an annual program that recognizes women of color entrepreneurs. EleVen founder and seven-time Grand Slam singles champion—and October Cosmo cover star—Venus Williams was among the judges who helped whittle down the list of 12 women (at 10 companies) from hundreds of submissions. The honorees include Jonelie Vélez-Román, CEO/co-founder, and Ailed González-Quintana, chief operating officer/co-founder of Tasty Smart, a Vega Baja, Puerto Rico-based maker of gluten-free, plant-based snacks; and Veena Somareddy, co-founder and chief technology officer at Fort Worth, Texas-based NeuroRehabVR, which creates FDA-approved virtual reality therapy exercise programs for neurological rehab. (See the full list here.) “Both Cosmo and Digitialundivided serve to empower and uplift young women,” Nancy Berger, senior VP, publishing director and chief revenue officer of the Hearst Youth & Wellness Group, tells Ad Age, “so we knew there was an opportunity to create something really meaningful if we joined forces.” In a statement shared with Ad Age, Venus Williams said that The New C-Suite is meant to “inspire women and girls across the globe to celebrate what makes them unique, use those qualities to defy expectations and forge their own narrative.” Digitalundivided, which launched in 2012, calls itself “a social startup” that focuses on “catalyzing economic growth in Black and Latinx communities.” Lauren Maillian, CEO of Digitalundivided, tells Ad Age that the point of The New C-Suite is to “spotlight women of color entrepreneurs who shatter ceilings and defy the odds.” Ad Age interviewed Berger, Maillian and Jessica Pels, editor-in-chief of Cosmopolitan, about The New C-Suite. Their thoughts about the program (lightly edited for space and clarity): How did the partnership with digitalundivided come about? Berger: I reconnected with Lauren Maillian from Digitalundivided over a year ago. ... From the beginning, we wanted to leverage the reach of Cosmopolitan’s platforms and to combine that with the invaluable work Digitalundivided has been doing in support of women of color entrepreneurs. It was important to establish a program that we could build on and grow for years to come. How many people responded to the call for entries? Pels: We were so impressed by the incredible response from entrepreneurs. We received over 500 submissions from founders representing more than 30 states across the country. How involved was Venus Williams in the judging process? Who else was part of the judging panel and how did you deliberate? Pels: Venus is a dauntingly talented entrepreneur, so we knew she’d be able to help us identify the most impressive rising class of women following in her footsteps. She weighed in on the submissions, gave thoughtful opinions and championed her favorites. All the judges—rounded out by myself and Cosmo’s beauty director Julee Wilson, in partnership with Digitalundivided’s Lauren Maillian and Elan Nieves—engaged in extensive conversation and debate to land on this list. Are the honorees getting any sort of ongoing support from this program, beyond the initial coverage? Maillian: Digitalundivided will support the honorees with access to expert-led business sessions, business services from AWS [Amazon Web Services] and participation in a one-of-a-kind founder community via Digitalundivided’s Genius Lab. There are so many opportunities to connect with executive-level mentors to hone their leadership, personal finance and wealth-building strategies. Pels: In addition to features across our platforms, we’ll continue to follow the honorees and their companies, and look for ways Cosmo can continue to support them, feature their brands and champion them as their businesses grow. We hope that these founders inspire other women of color entrepreneurs to pursue their passions [and] that investors take notice. What sort of sensibility were you looking for in the companies you selected? Meaning, management/founder sensibility, marketing/branding vibe, product niche ... Pels: Women-founded businesses often carry the stigma or assumption that their value is in serving only women customers, and we wanted to break down that stereotype by showcasing women in medical, technology and transportation fields in addition to fields like beauty, fashion and women’s health. But across the board, all of the entrepreneurs we’re recognizing with this inaugural list have all taken risks, overcome hurdles and broken barriers, to deliver original and innovative products across their business categories. Maillian: As a serial entrepreneur and investor, I looked for indicators of high-growth and high-traction businesses. Every judge looked at the total package from the brand idea, founder’s mission and vision, growth, consumer adoption and awareness, to the disruptive qualities of the business model. ... I wanted to identify women of color who were building something the world thought they couldn’t, shouldn’t or simply wouldn’t do. They are all trending in the direction of unicorn status and we want to help them get there. See the full New C-Suite here.

Cosmopolitan launches The New C-Suite, honoring women of color entrepreneurs

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