Ferrero North America and the U.S. Black Chambers, Inc. have officially opened applications for the 2026 Famous Amos Ingredients for Success Entrepreneurs Initiative, distributing $150,000 in capital to three early-stage Black business owners — continuing a six-year commitment to economic empowerment rooted in the legacy of a Black entrepreneur who built one of America’s most recognized snack brands from a single idea and a family recipe.
The program, which launched on March 31, 2026, reflects not just a corporate giving effort, but a deliberate investment strategy aimed at closing a capital gap that continues to hold back a generation of Black founders with the vision, drive, and skill to compete — if only given a genuine starting point.
Six Years, $750,000, and a Movement That Keeps Growing
Each year, IFS provides early-stage Black business owners with $150,000 in capital awards — distributing $50,000 each to three recipients — along with mentorship, networking opportunities, and educational resources. IFS honors the legacy of Famous Amos founder Wally Amos by recognizing the qualities that drive long-term business success.
Since its debut in 2020, IFS has awarded 15 business owners a total of $750,000, providing capital, connections, and resources to pave the way for their success and drive their legacies forward.
What began as a response to the economic disruptions of the pandemic has matured into something deeper. This year, select IFS alumni will serve as an advisory council, leading panels and masterclasses that give the 2026 class access to hard-won business insight from those who have walked the path before them. That peer-to-peer mentorship model — founders advising founders — represents a meaningful evolution of the program, transforming it from a grant program into a self-sustaining entrepreneurial ecosystem.
Kim Thomas, Senior Brand Manager for Famous Amos and Royal Dansk, said: “Every year, we meet entrepreneurs with incredible vision who are working to overcome similar systemic barriers that existed when Wally Amos was founding Famous Amos. IFS helps break those barriers down by expanding access to capital, mentorship and networks that can accelerate growth. That mission is deeply rooted in Wally’s story, and six years later, we remain committed to carrying it forward.”
The Man Behind the Mission: Who Wally Amos Was
Understanding why this initiative matters requires understanding who it honors. Entrepreneur Wally Amos was the founder of Famous Amos cookies. Prior to becoming a food magnate, he worked at the William Morris Agency, where he advanced from the mailroom to becoming the company’s first Black talent agent in 1962. As an agent, he signed Simon & Garfunkel and headed the agency’s rock ‘n’ roll department.
In 1975, Amos built his brand from one bakery in Hollywood, California, using a family recipe. By 1982, the Famous Amos Cookie Company was generating $12 million in revenue.
His story, however, includes the full complexity of what Black entrepreneurship often looks like in America. Despite the joy his cookies brought, financial struggles began to weigh heavy on the business. In 1988, after years of battling these challenges, Amos made the difficult decision to sell his cookie empire to a private equity group. It was a bittersweet moment — one that echoed the experiences of so many Black business owners who, after building something from the ground up, find themselves navigating the rough waters of corporate America. Yet, even after selling Famous Amos, Wally Amos remained a symbol of Black entrepreneurship and resilience, proving that success is not just about holding onto something but about creating something that lasts.
His son, Shawn Amos, reflected on the initiative: “So many entrepreneurs deserve a chance to grow their business to reach its fullest potential. IFS builds upon the lessons from my father and provides resources to help others’ business dreams become a reality.”
Wally Amos passed away in August 2024 at the age of 88. His children described him as “a true original Black American hero.” The IFS initiative, now entering its sixth year without him, is among the more tangible ways his legacy continues to shape the lives of founders who never met him.
The Capital Gap Is Real — and Growing More Urgent
A 2026 Wells Fargo report shows Black women-owned employer businesses grew 18.3% between 2022 and 2025, with employment at those businesses growing 23.1%, outpacing the national average. Still, without adequate access to capital, many are forced to self-fund their businesses — underscoring the gap in capital and resources that programs like IFS are designed to help address.
The data around this gap is consistent across multiple sources. Among firms that chose not to apply for financing, 32% of Black-owned businesses cited discouragement as their primary reason — four times the 8% rate among White-owned firms. Discouraged borrowers represent a significant, underserved market.
A study by the U.S. Federal Reserve found that Black-owned businesses are denied loans at a rate of 20.8%, compared to just 8.1% for white-owned businesses. This disparity in loan approval rates highlights the systemic barriers that Black entrepreneurs face in accessing the capital needed to start or grow their businesses.
The IFS initiative also arrives at a moment when Black professionals are increasingly turning to entrepreneurship out of necessity as well as ambition. Talisha Bekavac, USBC Executive Vice President, said: “The wave of Baby Boomer business retirements presents a significant wealth-building and legacy preservation opportunity for Black entrepreneurs — if they have the right resources to seize it. We are passionate about making sure Black entrepreneurs have the tools and capital they need to step into ownership, preserve jobs and help America’s economy innovate and grow.”
How to Apply — and What Qualifies
Applications for the 2026 IFS initiative are open now through June 1, 2026, and can be submitted at FamousAmosIngredientsForSuccess.com. Qualifying businesses must be at least 90% Black-owned, in operation for five years or less, headquartered in the United States, and owned by individuals 21 years or older.
The review process moves applications through multiple rounds, with a panel of judges — including returning panelists and prior IFS winners — selecting ten finalists before narrowing to three awardees. Each winner receives $50,000 in capital along with access to wrap-around services through the U.S. Black Chambers, Inc.: mentorship, networking connections, and educational programming designed to extend the impact of the award well beyond the initial check.
This year’s panel composition — centering the voices of those who have already been through the program — signals that IFS is not just writing checks into a vacuum. It is building community infrastructure, one cohort at a time.
Why This Moment Demands Attention
Programs like IFS exist in a landscape where access to capital for Black entrepreneurs remains one of the most documented and least resolved inequalities in American business. For many Black professionals, business ownership is not only an aspiration but a necessary response to workforce instability.
The initiative does not claim to solve a systemic problem on its own. What it does is give three founders per year a real entry point — $50,000 in non-dilutive capital, plus a network — at a stage when that kind of investment can genuinely change the trajectory of a business. Over six years, it has done that 15 times. The alumni advising this year’s class are themselves living proof that the model works.
For early-stage Black founders with a business already running, the window to apply is open. The application process, the eligibility criteria, and the full roster of past winners are available at FamousAmosIngredientsForSuccess.com.
Wally Amos built his empire with a family recipe, a borrowed $25,000, and a belief that his idea deserved a chance. The Ingredients for Success initiative is a direct extension of that belief — passed forward, one founder at a time.
