Jordana Schrager’s Sneakers By Jordana company recently scored the money through University of Michigan’s Zell Founders Fund, which invests in recent graduates (and students in their final year) whose business ventures have the potential to succeed and turn profits.
Some of Schrager’s plans to use the funds include mass production of shoe and fashion lines. She recently designed a Peace & Love collection featuring leggings and companion slip-on shoes that will debut in November in stores and online, Schrager shared on Instagram.
The alumna will receive $50,000 in seed money, along with another $50,000 after selling at least 50 percent of her inventory.
“She has just the coolest product,” said Ashka Dave, one of three fund managers who evaluated Schrager’s proposal for the grant. “With three women leading the fund we were thinking, ‘How do we get a pair of these shoes?’ So we were instantly captivated.”
Schrager began custom-designing sneakers while in high school and has produced orders for boldface-name clients such as Taco Bell, the Grammy Foundation and Jamba Juice.
The entrepreneur accepts orders on Sneakersbyjordana.com, and prices range between $200 to $300.