On April 26, 2021, finalists will compete for $22,500 in awards in the Spring 2021 Skandalaris Venture Competition. In anticipation of the SVC finals, we are publishing a Q&A series with the finalists. Today's featured team is Culture & Avenue.
Culture & Avenue is an e-commerce marketplace that prioritizes Black and minority entrepreneurs, who sell fashion, skin & hair care products, and art and home decor. They are more than just a marketplace - they empower vendors by giving them access to tools, resources, and a community of like-minded entrepreneurs.
Industry: eCommerce - Marketplaces (Fashion, Skin & Hair Care, and Art & Home Decor)
Number of Employees: 5 team members
Total Funding (as of March 2021): $1,200
What problem are you solving?
We are solving the lack of connections between Black/Minority entrepreneurs and their customers in the eCommerce landscape.
How do you solve this problem?
Creating a centralized platform that not only focuses on promoting these underserved entrepreneurs, but also steps in the right direction of creating and bringing a more diverse and equitable aspect to the business world by empowerment through monetary and informational resources, complete transparency, and a community to learn and grow with.
About the Founding Team:
The Founding team consists of five WashU undergrad students: Tony Sims, Micah Rydberg, Ben Barnett, Luke Lamb, and Shanthini Baskar. Our diverse and professional team has strengths in entrepreneurship, digital media, consulting, finance, and e-commerce. But our greatest strength is our passion for filling the void for Black and minority Entrepreneurs.
What is the biggest lesson you've learned since starting your venture?
Creating a unique experience for both vendors and shoppers is a must. The main mission is to turn the act of supporting Black and Minority entrepreneurs from a trend to an everyday way of life.
What do you love about being an entrepreneur?
The journey from the start; the longs days working and the sleepless nights because you are just thinking about "What Can I Do Next?" My love for being an entrepreneur truly comes from the energy, the passion, and the result of making someone's life easier, better, or more enjoyable.
What words of advice do you have for those starting a business?
Just Do It! If you are passionate about your business and you find joy in the end result, then just do it! Oh - and also, customer discovery is KEY when making sure you are truly solving the problem that needs to be solved.
What is your must-read book?
The Millionaire Mind by Thomas J Stanley
What is your favorite entrepreneurial news source?
YouTube (I know it isn’t technically a news source, but the amount of gems I received from YouTube has to be acknowledged in some form or fashion)
Instagram: @cultureandavenue
Website: https://www.cultureandavenue.com/