Crowns & Hops, a Black and woman-owned, veteran-operated brewery, recently triumphed in Samuel Adams’ 13th annual Brewing & Business Experienceship competition. The brewery’s co-founders, Beny Ashburn and Teo Hunter look to gain valuable support and mentorship from Boston Beer Co.’s Samuel Adams brand and its founder, Jim Koch. Koch, credited with helping spark the craft beer revolution four decades ago, continues to play a significant role in nurturing new talent in the industry.
The Brewing & Business Experienceship competition is part of Koch’s philanthropic initiative, Brewing the American Dream. This program assists food and beverage entrepreneurs by providing mentorship and access to capital through the Accion Opportunity Fund.
Koch understands the difficulties of securing funding firsthand. When he started the Boston Beer Company in 1984 from his kitchen, obtaining capital was nearly impossible. “No bank would lend me money. Everybody thought it was a joke,” Koch recalled. Despite these challenges, his company has become a household name, recognized for brands such as Sam Adams, Twisted Tea, Angry Orchard, and Truly Hard Seltzer.
Today, Koch’s mission is to help those in similar situations. A key aspect of the Brewing the American Dream program is that Koch does not acquire equity in the companies he supports. Instead, he provides loans, allowing entrepreneurs to retain their ownership. “That’s what brewing the American Dream is all about. We don’t want a piece of anybody’s business. We want them to stay independent,” Koch explained. “We want them to pay the loan back because we can then take that money and help another brewery.”
Crowns & Hops is the latest beneficiary of this initiative. The brewery, established in 2016, aims to increase Black and Brown representation in the beer community, from consumers to entrepreneurs. In 2020, Crowns & Hops launched the 8 Trill Initiative, a nonprofit dedicated to supporting the business development and sustainability of Black entrepreneurs in the craft beer ecosystem. Their mission is to achieve 13% Black ownership among breweries in the U.S.
Winning the Brewing & Business Experienceship competition will significantly boost Crowns & Hops’ exposure in the saturated market. “This recognition from Brewing the American Dream is a remarkable milestone as we look to evolve our business to new heights,” Ashburn stated. She added that the opportunity will enhance their local impact and propel them toward a broader footprint.
Over the past 16 years, the Brewing the American Dream program has provided more than $109 million in loans to over 4,300 small businesses, coached over 15,000 entrepreneurs nationwide, and helped establish more than 11,500 jobs. Crowns & Hops is poised to leverage this support to further their mission and expand their influence in the craft beer industry.