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LEDBURY ESTABLISHES FUND: Men’s luxury shirtmaker Ledbury has established The Ledbury Launch Fund to support an entrepreneur focused in the consumer sector with both a cash prize of $25,000 and mentorship.
The company has set May 6 to 25 as the open dates where entrepreneurs may submit applications that include a business plan and video. The selection committee consists of Ledbury co-founders Paul Trible and Paul Watson, Today anchor Willie Geist and University of Richmond business professor Richard Coughlan. They will narrow the applicant pool to three finalists, and from June 16 to 23, each finalist will be profiled on the Ledbury Launch Fund homepage on the Ledbury website. After selection of the winner, the Ledbury co-founders will be available for mentoring the throughout the first year of business.
Trible said, “When we started Ledbury at the height of the recession, we were fortunate to have friends and family who invested in our idea of creating an American shirtmaker that prioritzed fit and quality.”
He noted that the Launch Fund is an “opportunity for us to invest in people and ideas,” and added that Ledbury is neither looking for equity nor a return on the investment. Trible said that after five years, with Ledbury now an established and growing business, “we want to help support other entrepreneurs, just like our friends and mentors who believed in us.”