Contact: Candace Wheeler; 404-545-6570
ATLANTA – This week, Atlanta based Monica McCoy, founder of Monica Motivates, was announced as a member of the American Express (NYSE: AXP) “100 for 100” program. The inaugural program represents a $2.5 million investment by the company in “the future of Black women entrepreneurs in the U.S.” Each founder will received a grant of $25,000 and additional support resources including 100 days of business resources, including business education, mentorship, marketing, virtual networking, access to work spaces, work life balance tools and more.
For McCoy, the recognition is an incredible milestone in a career focused on serving underrepresented founders of color. In 2017, after a successful 15-year career working in lead corporate roles including serving as the former Acting Global Director of Strategy and Innovation for the McDonald’s Division of the Coca-Cola Company, McCoy decided to follow her passion and create a business focused on helping individuals identify their purpose. The result was Monica Motivates, which launched McCoy’s career as a highly sought-after global speaker, business strategist, executive coach, and consultant. McCoy has since launched several successful ventures under her brand — Pitch University and the Global Supplier Diversity Conference — aimed at closing the funding gap for founders of color.
“It’s an amazing honor to be recognized as part of a cohort of dynamic, black women entrepreneurs around the nation,” McCoy said about joining the Amex “100 for 100” program. “This opportunity will allow me to further my impact and investment in the founders of color I serve each day and can help create a movement of change to break barriers for more women.”
American Express created this program in partnership with IFundWomen of Color, the leading platform for women of color to raise capital, to support Black women entrepreneurs as they work to jump start and grow their business ventures. The initiative is part of American Express’ recently announced $1 billion action plan to enhance diverse representation and promote equal opportunities for its colleagues, customers and communities.
Over the past five years, the growth rate for women owned businesses has more than doubled compared to all businesses nationally, according to the latest State of Women-Owned Business report, commissioned by American Express. Prior to the pandemic, Black-women-owned businesses were growing at unprecedented rates yet still making less revenue than their counterparts. In fact, the same report revealed that Black, women entrepreneurs were founding 763 new businesses every day – making them the fastest growing entrepreneur group in America. Yet, they still do not have equal access to the resources they need to grow and be successful. The “100 for 100” program kicks off virtually in January 2021.
About Monica McCoy, founder Monica Motivates:
Monica McCoy is a highly sought after, award-winning global speaker, executive coach and author, whose company, Monica Motivates, has developed and executed strategic programs to help underrepresented founders pursue, win and successfully maintain corporate contracts. A former Global Director of Strategy and Innovation for the McDonald’s Division for the Coca-Cola Company, McCoy has nearly two decades of experience in business diversity and inclusion. McCoy’s latest book “Treating Your Brand Like a Fortune 100 Company” serves as a step-by-step guide for founders looking to launch their business to the next level.