Famous Amos Honors Late Founder, Gifts 3 Black Entrepreneurs $150K In Capital And Resources

September 25, 2024
Wally Amos’ legacy is honored through the Famous Amos 2024 Ingredients for Success Entrepreneurs Initiative (IFS) winners.
Famous Amos is honoring the legacy of founder Wally Amos by announcing the winners of the 2024 Ingredients for Success Entrepreneurs Initiative (IFS).
Now in its fourth year, the annual program offers $150,000 in funding and continuous support to a select group of talented early-stage Black entrepreneurs. The program pays tribute to the late Wally Amos, who became a household name in the 1970s with the launch of Famous Amos cookies.
The announcement of this year’s Ingredients for Success grand prize winners comes one month after Amos passed away at age 88. Ten finalists were chosen from over 2,800 applicants, with the top three emerging as the award recipients. This year’s winner’s winners include:
This year’s program winners were chosen for their savvy, potential, and the overall viability of their business models. Much like the inspiration Amos provided aspiring entrepreneurs of his time, the capital given to the winners embodies the ambitious, self-starter spirit the company founder championed.
“The Ingredients for Success program is a way for the Famous Amos brand to pay tribute to our history while championing rising entrepreneurs with much-needed capital and mentorship,” said Rachna Patel, VP of Marketing for Famous Amos. “Ingredients for Success has so far awarded $600,000 to twelve Black-owned businesses across the country and we look forward seeing to all of their future accomplishments.”
IFS winners receive $50,000 and an exclusive membership with the U.S. Black Chambers, Inc. (USBC) to support the growth of their businesses. This award mirrors the early support Wally Amos received when starting his snack company. Mentorship, education, and resources from the USBC are vital elements of the Ingredients for Success program, helping to address the challenges that cause a fifth of U.S. small businesses to close within their first year.
While only three finalists win the grand prize, all participants join the Ingredients for Success Alumni Network, gaining access to a wealth of business resources, training, and engagement opportunities that extend beyond the program’s active cycle. Last year’s winners include Eartha Watch Company by Emir Horton, TCB Drones by Steffanie Rivers, and The Language Arc by Londyn Jackson. All went on to successfully scale their operations, with Horton’s business, in particular, launching a new collection that reached the six-figure mark.
“We’ve seen remarkable accomplishments from our alumni network over the years,” said program judge Steve Canal. “We’re eager to see what Ingredients for Success alumni achieve next.”
RELATED CONTENT: Famous Amos Cookie Founder And Literacy Advocate Wallace Amos Dies At 88








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