Modbap Modular Wins Famous Amos Ingredients for Success (IFS) Grant
Annual initiative supports the next generation of Black business owners - providing a capital award, resources and mentorship services to Black early-stage businesses
Los Angeles, CA, September 30, 2024 — Modbap Modular announced that its founder, Corry Banks, has been selected as a 2024 grand prize winner of the Famous Amos Ingredients for Success Entrepreneurs Initiative (IFS). IFS is an annual national program in its fourth year that provides a capital award, resources and mentorship services to Black early-stage businesses. Banks was among three winning entrepreneurs selected across the beauty, music and gaming industries.
For the IFS Award, ten finalists were selected out of more than 2,800 applicants, with the final three rising to the top as award recipients. Winners receive $50,000 each, and an exclusive membership with the U.S. Black Chambers, Inc. (USBC) to advance the growth of their operations. Mentorship, education and resources provided by the USBC are key components of the Ingredients for Success program since they help counteract the factors that lead a fifth of all U.S. small businesses to close within their first year.
A pioneering visionary
A pioneer within the Modbap and modular synth communities, Corry Banks' original vision in starting Modbap Modular was to close the gap between hip-hop and music technology. His passion for designing and manufacturing synthesizers has since resulted in the company achieving global distribution, and performers using his instruments within a diverse range of musical genres around the world.
Banks has worked as a musician and technologist for 25 years, and holds degrees in Electronics, Technology Management and Project Management. A resident of Los Angeles, he founded Modbap Modular in 2020 after designing and manufacturing his first Eurorack-based modular synth module from the ground up. Now, his products are sold in more than 40 electronic musical instrument stores around the world.
Corry expressed his gratitude for the opportunity, stating, "I am truly honored to be selected as one of this year's recipients of the IFS grant, particularly given the cultural significance and entrepreneurial legacy that Famous Amos represents. I am grateful for the support network and resources made available through Famous Amos and the US Black Chambers. My heartfelt thanks go out to both organizations and the judges. I look forward to the opportunities that lie ahead on this Modbap journey."
Honoring the late Wally Amos
The IFS program honors the legacy of the late Wally Amos, creator and founder of Famous Amos cookies, who in the 1970s became a household name for aspiring business owners across America. Rachna Patel, VP of Marketing for Famous Amos, commented: "The Ingredients for Success program is a way for the Famous Amos brand to pay tribute to our history while championing rising entrepreneurs with much needed capital and mentorship. Ingredients for Success has so far awarded $600,000 to twelve Black-owned businesses across the country and we look forward seeing to all of their future accomplishments."
For more information on this year's Ingredients for Success winners and finalists, please visit the website at FamousAmosIngredientsForSuccess.com.
About Modbap Modular
Modbap Modular, founded by Corry Banks, is a black owned electronic music instrument manufacturer. Our instruments are made and designed in Southern California, USA, and distributed worldwide. It is our goal and mission to develop fun, forward thinking, performance oriented instruments with the DJ and beatmaker’s perspective in mind.