ABOUT THE FUND
The Main Street Entrepreneurs Seed Fund supports Georgia State student entrepreneurs, recent alumni and Georgia State community entrepreneurs with seed funding and mentorship to start and grow new ventures.
SKINCENTRIC LLC
Paige Malcolm, Co-Founder & CEO
Current Undergraduate Student, College of Arts & Science
[email protected]
Theodora Oatmeyer, Co-founder & CMO
Community Member
[email protected]
PROBLEM
Clutter caused by product containers, reducing the pollution caused by plastic waste and usability for the disabled community.
SOLUTION
Our flagship product is the LO Smart Beauty Dispenser- a tech-enabled device that allows you to easily store all your skincare products in one place while minimizing clutter in your bathroom and streamlining your skincare routine.
BUSINESS MODEL
B2C subscriptions while increasing revenue by negotiating purchasing deals for product.
TARGET MARKET
The target audience consists of women between the ages 23 to 39, who prioritize healthy living, have a particular interest in luxury beauty-tech products and a disposable income. These women place importance on educating themselves about their skin to prevent damage and maintain consistent skincare routines.
KEY COMPETITORS
L’Oreal Groupe, LVMH, Dyson
USE OF FUNDS
50% Legal
25% Prototyping
25% Hiring
How did you meet your co-founder?
We joined a L’Oreal webinar for the L’Oreal Brandstorm 2023 Case Competition and then connected through LinkedIn while trying to form teams and have been working on our business ever since.
What does entrepreneurship mean to you?
Entrepreneurship means taking calculated risks to advance to that next level and knowing that what is meant for you will come in due time.
What innovative technologies are being leveraged in your business?
As a tech-enabled start-up, we’re leveraging artificial intelligence to create an interactive experience that will benefit our end-users in several different ways. We also plan to make our LO user friendly to the disabled community by including Hearing Aid connectivity.
How has your formal education at Georgia State played a role in becoming an entrepreneur?
My college journey began in Fall 2019 when I enrolled at Georgia State University as an entrepreneurship major. The classes I took opened my mind and presented challenges that I never thought possible. Unfortunately, I encountered difficulties during the COVID pandemic, leading me to take some time off. However, I returned in the Spring of 2021 to Georgia State University – Perimeter College, this time as a computer science major. The university’s resources, such as Women in Technology (WIT), National Society of Black Engineers (NSBE), and Louis Stokes Alliance for Minority Participation (LSAMP), have played a pivotal role in my professional and personal growth. I deeply appreciate Georgia State University’s efforts to nurture the entrepreneurial spirits of women and minority students through programs like Mainstreet Entrepreneurship Seed Fund (MSESF), LaunchGSU, and StartUp GSU. It is crucial because when potential meets access, magic happens!
What is your major at Georgia State and how has it prepared you to run a business?
My major is computer science. Diving deep into various technical topics has improved my analytical skills tremendously. I feel that any problem can be solved given enough time and effort. Business is all about solving problems whether they be your problems or your customers’ problems so knowing how to break things down to build them back up in the ideal way is very helpful.
What role has Atlanta played in your entrepreneurial journey?
Atlanta, the 8th largest city in the United States, offers a thriving market for small business owners to flourish. Since my middle school days, I have possessed an entrepreneurial spirit, fueled by unwavering support from my family and peers. Living in this vibrant city has allowed me to experience substantial growth in my hair braiding business from 2016 to 2021, primarily through the establishment of a strong network and the delivery of exceptional service. At the height of my success, I leased a small salon suite in Buckhead and serviced up to four clients daily, generating a weekly income exceeding $2,000. Moreover, I had the privilege of creating employment opportunities for my friends and family. Atlanta also has a multitude of events and social venues tailored for business-minded individuals. Among them, The Gathering Spot and Atlanta Ventures stand out, although the city offers countless more options.
What is the most challenging aspect of entrepreneurship?
Being an entrepreneur revolves around embracing risks! When you conceive an idea and aspire to bring it to life, there’s an abundance of uncertainty. Venturing into high-risk territory can yield remarkable rewards, but the journey itself is filled with challenges. Consistent outcomes, a stable income, or a conventional work schedule may not always be guaranteed. However, if you genuinely believe in something, you must wholeheartedly pursue it.
FOUNDER INTERVIEW
COMING SOON
ABOUT THE FUND
The Marcus Foundation supports Georgia State student entrepreneurs, recent alumni and Georgia State community entrepreneurs with seed funding and mentorship to start and grow new ventures.