UBS and Luminary Launch the Second Annual Fellowship Program
November 18 2021 - 11:33AM
Business Wire
The program aims to continue supporting women of color-owned
businesses impacted by or created during the pandemic
Today, UBS and Luminary, a New York City-based, global career
and personal growth platform, announced the launch of the second
annual UBS x Luminary Fellowship Program. The program will support
women of color-owned businesses impacted by and/or created during
the pandemic by delivering the necessary tools to manage and grow
their companies. In 2022, UBS and Luminary will award 75
fellowships, up from 55 fellowships awarded last year.
Research shows that more than 1.5 million new business
applications were filed in 2020-2021—over 40% of the applications
were submitted by women1. In 2020, nearly half of all businesses
started by women were minority-owned2.
"The pandemic is not over and small businesses, particularly
those owned by women and women of color, still need support," said
Cate Luzio, Founder and CEO of Luminary. "Programs like this are
not only necessary, but essential and we are thrilled UBS is
recommitting and reinvesting in our effort for another year. Our
continued partnership broadens our ability to help businesses owned
by women of color to not only survive but propel them on the path
to sustainability and profitability.”
Over the past year Luminary has hosted more than 1,500 programs
and workshops to support women, reaching members in over 30
countries. Its pandemic-born Fellowship Program, with partners
including UBS, Unilever, Verizon and Indeed, has helped more than
800 women-owned businesses in 2021.
“UBS is proud to continue to work with Luminary on this program,
building on our commitment to support women of color business
owners,” said Carey Shuffman, Head of the Women's Strategic Client
Segment at UBS Wealth Management USA. “We look forward to taking
what we’ve learned from the previous cohort and further developing
this initiative to help the founders and their businesses
thrive.”
According to an impact survey of the 2021 UBS x Luminary
fellows, 58% developed a new client relationship out of the
Fellowship Program within the first six months. Additionally, more
than half said the fellowship helped them through one of the worst
periods of their company and delivered new business
connections.
Candidates wishing to be considered for the 2022 cohort will
need to have an established business at any revenue stage and be
owned and operated by a woman of color. Those awarded fellowships
will have access to Luminary’s extensive global community,
workshops, coaching, and mentoring.
Each fellow will also receive best-in-class thought leadership
and insights from UBS, with specific support from the UBS Business
Owners, Multicultural Investor, and Women’s Strategic Client
Segments. This includes access to the extensive resources from the
UBS Business Owner Resilience Center and the UBS Own Your Worth
offering, as well as the accompanying Financial Participation
educational content for women.1
The application process is now open and will close on December
15, 2021. All fellowships will have a commencement date of January
1, 2022 and end on January 1, 2023.
Notes to Editors
About Luminary
Luminary is a global membership-based career and personal growth
platform founded by former finance executive Cate Luzio, with the
mission to uplift, upskill, and propel women forward through all
phases of their professional journey. Whether entering or
re-entering the workforce, a seasoned executive stuck in the
middle, embarking on a career transition or entrepreneurship,
Luminary is their ultimate career advocate providing “real world”
advice, tools, and resources to advance, build, connect, and
develop. Its members are a multigenerational and intersectional
community of individuals, intrapreneurs, entrepreneurs,
corporations, and organizations with access to a vast ecosystem of
expert-led thought leadership programs and services, as well as a
host of perks and amenities. The company has grown to more than
2,000 individual and 40+ corporate members (representing more than
500,000 employees worldwide) including UBS, JPMorgan Chase,
Unilever, Verizon, Goldman Sachs, Mastercard, Spotify, ViacomCBS,
and ADP. Learn more at www.luminary-nyc.com and @bealuminary on
social media platforms.
About UBS
UBS provides financial advice and solutions to wealthy,
institutional and corporate clients worldwide, as well as private
clients in Switzerland. UBS is the largest truly global wealth
manager, and a leading personal and corporate bank in Switzerland,
with a large-scale and diversified global asset manager and a
focused investment bank. The bank focuses on businesses that have a
strong competitive position in their targeted markets, are capital
efficient, and have an attractive long-term structural growth or
profitability outlook. https://www.ubs.com.
1 The U.S. Census Bureau
2 Gusto and the National Association of Women Business Owners
survey
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version on businesswire.com: https://www.businesswire.com/news/home/20211118006025/en/
Media: Luminary Courtney Forrest
courtney@courtneyforrest.com UBS Global Wealth Management
Laura Hastings laura.hastings@ubs.com
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