A black woman in a tech startup in the South. Â Sounds like an oxymoron right? Well, it’s true. Â My name is Chanel Martin, and I am co-founder and COO (Chief Operating Officer) of Techturized. Techturized was the brainchild of co-founder and CEO Candace Mitchell, and myself. We met at Georgia Institute of Technology in 2008. Mitchell was studying computer science, and I was in a dual degree program with Clark Atlanta University pursuing a bachelor’s degree in chemical engineering. Techturized is a hair care technology company that creates innovative solutions to transform the hair industry. We launched our first product, Myavana, December 2013. Myavana is a mobile and social style platform, where women can search for hairstyles, products, and stylists in their area. Myavana will offer hair personalization plans Fall/Winter 2014. These personalized plans will recommend hairstyles, products, and services based on a woman’s unique hair type.
How we got started
Candace and I had issues with finding the right styles and products for our hair. One day, I was searching for natural hair wedding styles for my upcoming wedding. I searched everywhere, including blogs, websites, and YouTube videos and was overwhelmed. I didn’t understand why the information was so fragmented and unhelpful. I decided to do something about it! What better person to tackle this issue than a chemical engineer. I reached out to Candace Mitchell to help with the tech side and the rest was history.
Getting funding
In 2012, we applied to an accelerator program, Flashpoint, based out of Georgia Tech. It provided $35K in funding, an office space, and seasoned mentors. We were accepted and began immediately working on our company. Flashpoint was instrumental to the success of our brand and our company. During Flashpoint, we interviewed more than 1000 women to help build our first product, Myavana. We also learned how to pitch to investors, and hustle!
After Flashpoint, we asked friends and family to invest in our company and raised $40K. We then caught the eye of some local angel investors and raised an additional $25K. Next, we participated in a crowdfunding campaign through Indeigogo and raised another $25K. Our biggest funding cash cow comes from pitch competitions. To date, we have raised $85K, and more than $200K in products and services from entering and winning pitch competitions. We are currently in the processes of raising $500K to carry out the next phases of our business.
CELEBRATING 10 YEARS! Join us for the landmark 10th Annual Black Enterprise Women of Power Summit hosted by State Farm, March 2—4, 2015, at Fort Lauderdale Harbor Beach Marriott Resort & Spa, Fort Lauderdale, FL. This exciting, one-of-a-kind executive leadership summit is designed to train, equip and encourage women to become industry leaders, learn career strategies, and discover proven work—life balance techniques. Register Now! https://blackenterprise.com/wps
Our challenges
We have faced many challenges, but each one has helped us grow as a company, and as a team. Raising money as a minority-owned company in the south, that provides/sells products and services to women of color has been a huge hurdle. People invest in people and ideas and businesses with which they are comfortable. That means, that the old white guy probably doesn’t understand us, or our business model. We’ve spent lots of money, time, and energy educating white men and women on the black consumer market. When we explain that black women drive 33 % of the 10 billion dollar U.S. hair product industry, but are only 6% of the population, they start to “kind of†get it. But then there is the issue that black women are asking a southern white man for money.
Why we do it
If it were only about the “potential money†that we would make, then we would have quit a long time
ago. This path has been an exciting, yet a stressful whirlwind of events. There have been many times along this two-year journey where I wanted to quit. I wanted to go back to being a chemical engineer in a traditional 9 a.am. to 5 p.m. setting, but we both realized that we are on assignment from God. We are trailblazers, who are paving the path for other women to use their STEM backgrounds to create multimillion even billion-dollar companies. We are a reminder to the human race, that with perseverance, trust in God, and family support, you can achieve anything no matter your socio-economic status or skin color.Advice to other entrepreneurs
Candace and myself work on this full-time. In addition to full-time with Techturized, I am a wife and a mother to a newborn baby girl. It’s a tough road to follow, and you need a support system to get through each day. Before walking away from that “9 to 5,” identify your support system that will encourage you and keep you lifted in prayer and daily affirmations. Understand that the road less traveled is very tough. You may get hundreds of “no’s†before you get your first yes. If you truly believe in what you are doing, keep at it.
What’s Next
We were just accepted in to another business accelerator program, DreamIt Ventures for the fall cohort. We are also partnering with Spelman College in Atlanta to create a pipeline for women in STEM. To keep up with Techturized and Myavana, visit Myavana.com/media. Myavana is available for download in the Apple App and Google Play stores. You can also follow us on Facebook, Twitter, and Instagram @MyavanaHair.
Chanel Martin (@ChanelEbone) is a co-founder and chief science officer of Techturized (@Techturized) Inc. She is also a wife, new mom, and lover of all things hair! She works full-time on her company Techturized. Techturized’s first product, Myavana (@Myavanahair) providing hair care personalization for female consumers around the world.
CELEBRATING 10 YEARS! Join us for the landmark 10th Annual Black Enterprise Women of Power Summit hosted by State Farm, March 2—4, 2015, at Fort Lauderdale Harbor Beach Marriott Resort & Spa, Fort Lauderdale, FL. This exciting, one-of-a-kind executive leadership summit is designed to train, equip and encourage women to become industry leaders, learn career strategies, and discover proven work—life balance techniques. Register Now! https://blackenterprise.com/wps