What is the Threading Change initiative?
Covet Fashion’s Threading Change Initiative is a grant program that aims to help drive meaningful change in the fashion industry by supporting BIPOC (Black Indigenous People of Color)-owned businesses with capital and amplification
Who is eligible to apply for a grant?
Applicants must be 18 years or older and identify as BIPOC. Applicants must be an owner of a U.S.-based, BIPOC-owned business incorporated in the United States that contributes goods or services to the fashion industry. Applicants can include designers, hair stylists, makeup artists, photographers, and clothing stylists.
Additional eligibility restrictions and terms and conditions apply, please refer to the Official Rules for complete details.
If my business does not operate in the United States can I apply?
Unfortunately, the grants are only available to businesses based in the United States.
Why is this limited to only the listed fashion industry roles?
We’re focusing on creatives that can be easily integrated and promoted within the Covet Fashion app.
Can I apply more than once?
Due to the anticipated high volume of applications, we are only able to accept one application per business.
What is the amount of the grant?
How many grants will be awarded?
We will be awarding a total of four grants, each equalling $10,000.
Do I have to pay back the grant?
Nope! Recipients will not be asked to pay back the grant.
How does Covet Fashion expect businesses to use this money? Are there requirements for how they need to spend the funds?
The only requirement is that recipients use the grant funding for legitimate business expenses that are consistent with what’s outlined in their application. We will be doing a checkup six months after the grant is awarded to see how the money has helped support the business.
How do I apply?
The application can be accessed here. Please note, we strongly recommend that applicants work from a desktop and save a personal record of their application before submitting!
Is there a deadline for applying for a grant?
The application process opens on October 21st, 2020, and the deadline to apply for a grant is November 4, 2020 at 11:59 p.m. PT.
How long does the application process take?
Time spent on the application will vary based on the applicant, but we anticipate that applicants shouldn’t need to spend longer than one to two hours on their entry.
What information is needed to apply for a grant?
In addition to providing basic information about the business owner (e.g. contact details, resume) and the company (e.g. description, ownership breakdown), each applicant must answer a series of short questions. If an applicant is selected as a finalist, they will be asked to provide more detailed financial information, including financial statements.
Can I start my application and finish it at a later time?
The application cannot be paused or resumed once started, so applicants won’t be able to save “work in progress.” To ensure work isn’t lost, we strongly recommend that applicants review application questions in advance, finalize entries in their own document, and save a personal record before submitting.
Can I edit my application responses to the questions?
Unfortunately, application entries can not be saved, edited, or revisited during the submission process. Applicants should review responses carefully before hitting the ‘next button’ at the bottom of every page—once an application is submitted, it is considered final. If a final application is missing key files or material information, please reach out to us via firstname.lastname@example.org as soon as possible with the subject headline “Grant Application Edit.”
Can I send Covet Fashion samples of my product?
Unfortunately, we’re not able to accept physical products for consideration with the application. However, applicants are welcome to include pictures of their products!
How will I know if my application has been received?
Once an application is complete, applicants will see a confirmation that their application has been recorded.
Will my competitive business and financial information be kept confidential?
Absolutely! We understand that applicants may be providing us non-public, confidential information about their business as part of the application and we commit to keeping that information confidential. This information will only be shared with individuals involved with the selection process, administration of the Initiative, or as otherwise expressly permitted in the Official Rules.
How will I know if I have been selected as a finalist to receive a grant?
We will let applicants know if they have been selected as a finalist and will reach out via the email address provided in the application.
If I am selected as a finalist, does that mean I get the grant?
Being selected as a finalist does not guarantee you will receive a grant. Finalists may be asked to provide additional information to further evaluate their application. Up to 10 finalists will have the opportunity to be featured on Covet Fashion’s social media pages (over 1M in reach) to allow Covet players to narrow down the finalists.
Who is reviewing applications?
Applications will be reviewed by a diverse group of Covet Fashion team members, as well as the team at Change Cadet, a diversity, equity, and inclusion consulting firm.
How are applications being evaluated?
Applications will be evaluated based on each of the four criteria below:
- Your Brand (The What): How your business shows up in the fashion space and what sets it apart from others
- Your Message (The Why): How your business aspires to broaden the conversation about fashion and lead with purpose
- Your Plan (The How): Your business’s plan for growth and how this grant will help it get there
- Your BIPOC story/journey (The Who): Your personal story and why inclusion is important to your brand
Will there be additional documentation or information required after I submit my application?
If we have questions about an application during the review process, we may contact applicants for more information. If selected as a finalist, applicants will be notified via email. Being selected as a finalist does not guarantee a grant. Finalists may be asked to provide additional information to further evaluate your application.
Do I need to play Covet Fashion to apply for a grant?
No, applicants do not need to be a current or past user of Covet Fashion to apply for a grant. Playing Covet Fashion will not improve an applicant’s chance of selection.
Will recipients receive benefits from this initiative, in addition to the funding?
Yes! Recipients will receive the opportunity to participate in community and social amplification initiatives in 2021. This may include: Amplification via Covet Fashion’s channels consisting of at least four in-game features over the course of a 30 day period, supported by social media promotion.
What if I don’t have an Instagram, Facebook, Twitter or other social media account for my business or a business website to link to in the application?
No need to create one just for this application! Applicants can provide links to any social media accounts that they have, if any.
Who do I contact if I have questions about my application or the application process?
Applicants can get in touch by reaching out to email@example.com with the subject line “Grant Application”.