Applications NOW Open has Apply For Empower her And Her Village Subsidies
TRAVERSE CITY, Michigan., September 21, 2023 /PRNewswire/ — Boundless Futures Foundation, a new private foundation, today announced its commitment to providing financial support and leadership resources to aspiring women entrepreneurs launching businesses aimed at solving social problems. The Foundation will award grants to individuals and nonprofit organizations across the United States.
Although women-founded companies have attracted more venture capital investment through a growing number of deals in recent years, only about 2 percent of total U.S. early-stage venture capital dollars are invested in businesses founded by women.1 The Boundless Futures Foundation sets itself apart from other entrepreneurship-focused foundations by offering no-strings-attached grants to women entrepreneurs – most others take equity stakes in the start-ups that receive funding.
Thanks to their personal experience, the founders of the Foundation Soon and McKeel Hagerty I have seen the power of what a woman business owner can do to impact her family, her community and society.
As a serial entrepreneur herself, Soon understands the excitement and emotional journey that comes with starting a business. His entrepreneurial roots run deep and date back to his childhood. She and her family emigrated from Vietnam has Fresno, California, and they began selling fruits and vegetables from the back of a truck to grocery stores to support their families. They eventually created a wholesale produce business that is still around more than 40 years later.
The Soon family’s experience inspired them to co-own and found several businesses, including Luxe Communications, Centigrade, a global marketing and events company, and The Good Bowl, a mission-driven Vietnamese restaurant. Traverse City, Michiganwho donates $1 per bowl to charity. As Senior Vice President of Brand at Hagerty, Soon played a leading role in transforming the company from a local specialty insurance company into a publicly traded global lifestyle brand for car enthusiasts who joined the New York Stock Exchange (HGTY) in 2021 with a value of over 3 billion dollars.
“Starting a new business can mean high stakes and high stress, which is why the Boundless Futures Foundation aims to support women entrepreneurs using a holistic approach to build confidence, embrace community support and make meaningful connections for women entrepreneurs to not only realize their vision but also generate positive, lasting change in society,” said Soon Hagerty. “The Boundless Futures Foundation is designed to be a trusted friend in a woman’s entrepreneurial journey.”
McKeel Hagerty, CEO of Hagerty, first observed the power of women in business when her mother Louise was running operations of the family business. In 1995, McKeel, in partnership with his sisters Kim and Tammy, took the company out of its start-up phase. Three decades later, the family business that began as a specialist insurance business has grown to provide products and services to the global collector car market.
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In addition to attracting less invested capital, women entrepreneurs in the United States report having less confidence in their entrepreneurial skills than men and, like women around the world, they still do not have equal access to networks, funding and business-related mentors or role models. 2.3
The Boundless Futures Foundation supports women entrepreneurs whose businesses seek to solve social problems through their products and services, as well as through business models and practices. Boundless Futures Foundation grants provide capital and a support network that offers business answers and advice.
The Foundation aims to achieve the following objectives:
- Empower young women to realize their entrepreneurial dreams by providing capital to support a new business that identifies and aims to solve a social problem; EmpowerHer grants of up to $25,000 are awarded to female entrepreneurs who are at least 22 years old and who are in the early stages of creating a business that addresses a social problem or whose business model incorporates a concept focused on a specific objective.
- To kiss aspiring entrepreneurs by ensuring that they are not alone in their journey. An advisory circle of seasoned women entrepreneurs provides resources such as leadership development, skills development assistance, mentoring and networking opportunities to support beneficiaries. Their aim is to foster the development of Foundation grant recipients, ensuring better strategic thinking for growth, future financial sustainability and peer networking.
- Raise other nonprofits that are paving the way for women business owners. Its Village Grants of up to $25,000 are awarded to eligible 501(c)(3) organizations that benefit women entrepreneurs.
“We believe it is important to support all entrepreneurs; however, there is an imbalance in women’s access to resources to start their own businesses. Having three daughters, we hope to create a world where they have access and feel supported in their entrepreneurial journey if that is possible. the direction they choose in life,” said Soon Hagerty. “It was also important to focus our support on businesses that aim to solve social problems. We believe that companies that can combine both purpose and profit will have a lasting impact on society.”
About the Boundless Futures Foundation
Founded in September 2023 by Soon and McKeel Hagerty, Boundless Futures Foundation provides financial support and leadership resources to aspiring female entrepreneurs ages 22 and older so they can have unlimited impact on society. The Foundation empowers women entrepreneurs in the United States by providing grants to individuals in the early stages of starting a business that solves a social problem and to nonprofit organizations aligned with their mission. The Foundation also gives individual beneficiaries access to an advisory circle, a support network throughout their entrepreneurial journey. For more information, visit boundlessfutures.org and follow the Boundless Futures Foundation on LinkedIn, Instagram And Facebook.
3 https://www.diplomaticcourier.com/posts/the-womens-entrepreneurship-landscape-is-changing-is-the-ecosystem-ready-to- adapt
SOURCE Boundless Futures Foundation