The Natural Diamond Council (NDC) has partnered with US jewellery designer, Lorraine Schwartz, for its Emerging Designers Diamond Initiative.
The partnership will allocate $1m (£729,865) into programmes, which will provide opportunities for designers from the Black, Indigenous, People of Colour (BIPOC) community.
The initiative’s goal is to expand the number of BIPOC diamond jewellery businesses and help those already established to grow.
Mentorship and education classes will be made available to designers, which will focus on new marketing opportunities, supply chain management and pricing strategies.
Some $20,000 (£14,597) will be given to each designer in diamond credit and the NDC will stand as a guarantor with the diamond suppliers.
A selection committee including Lorraine Schwartz, celebrity stylist Jason Rembert, fashion director of Vanity Fair, Nicole Chapoteau and NDC CEO, David Kellie will review designer applications until the $1m (£729,865) diamond credit has been fully allocated.
Applications are now open for the Emerging Designers Diamond Initiative.