The co-founders (Black HBS alumnae) of an e-commerce beauty startup explore the unmet needs within the beauty industry. This case study examines the entrepreneurial opportunities that come from identifying an underserved market, specifically within the Black community and the best startup financing approach to pursue those opportunities. Students learn approaches to product ideation/innovation, marketing strategies for the social media age and launching a startup for a targeted audience. Students learn to analyze macro and micro economic data of an industry, synthesize consumer demographics and purchase behavior data, and create projected unit economics as well as pro forma financial documents to determine the potential economic opportunity that is unmet in a market and the requisite fundraising to launch a new business. At the time of the case, Mented co-founders went on to become the 15th and 16th African-American women to raise over $1 million in startup funding.

The case highlights the role of minority chambers of commerce and the background of Eve Hall, a regarded multi-sector leader asked to revive Wisconsin's African-American chamber. This case study examines the lending options that a minority chamber of commerce considers when seeking to maximum value to their constituency. Students learn the challenges minority small business owners and entrepreneurs face, the role of non-financial institutions / community-based organizations in addressing those challenges and the financial tools available to lenders and borrowers in this segment. Students learn how to analyze financing opportunities by assessing the value proposition of chambers of commerce, developing the risk-reward profile of each party involved and deliberate as members of a board to reach a final lending decision.