Why We Launched IFundWomen of Color

JANUARY 23, 2020

2020 is already off to an unbelievable start: IFundWomen of Color is here!

I’m Olivia Owens, Head of Partnerships here at IFundWomen. I’m also the Creator and General Manager of IFundWomen of Color.

Last Saturday, I took the main stage at the Women’s March NYC, alongside IFundWomen Founder & CEO, Karen Cahn, to talk about women entrepreneurs and funding. 

This was the first time ever that financial empowerment joined the broader conversation around women’s rights at the Women’s March. 

Did you know that the 1,800 new businesses started by women in this country every single day and of those, 89% are founded by a woman of color? (Source: American Express) Yet, it’s extremely difficult for these new businesses to get funding.

We launched IFundWomen of Color as the leading platform for women of color to raise capital through crowdfunding, grants, coaching, and the connections needed to launch and grow successful businesses. It is the go-to funding ecosystem designed specifically for diverse entrepreneurs who are early-stage entrepreneurs.

As the Creator & General Manager of IFundWomen of Color, I am extremely proud that 30% of the funds raised through IFundWomen have been raised by women of color, but there’s more work to be done. The data shows there are deeper disparities experienced by diverse founders when it comes to accessing funds.

We all know the stats: Latinx women receive 0.32% of the venture capital pie, while black women receive an even more disturbing .0006%. (Source: Project Diane)

I’m tired of seeing all of the bleak funding stats when I’m sitting on this solution.

I’ve been working at IFundWomen from the start, and I continue to see the amazing success women of color entrepreneurs have through our magical mix of crowdfunding, coaching, and grants.

Members of this new platform will get access to:

Coaching: We know that the entrepreneurs who get human-to-human coaching perform better. We will offer free coaching to accepted members via semi-private digital classes & workshops on all the topics that entrepreneurs need to know about, from How to Successfully Crowdfund to How to Set Up Your Google Analytics — and everything in between.

Connections: We will offer networking opportunities in key markets where our entrepreneurs reside so they may learn and build their personal networks.

Community: Members will have access to a private Slack community. This will be a safe space to discuss their challenges and obstacles and collaborate with peers and coaches in order to get solutions.

Capital: All of this coaching, training, and mentorship will result in access to the capital necessary to launch and grow their businesses. IFundWomen of Color entrepreneurs will be eligible for grants, pitch competitions, and the tools they need to successfully crowdfund.

This is just the beginning or IFundWomen of Color. We’re working with powerhouse partners who are ready to put their money where their mouth is — like our founding partner Caress — to put funds directly into the hands of women of color entrepreneurs.

If you have an idea, a passion, or a budding business that needs funding, apply to IFundWomen of Color today!

No more waiting. It’s time to get funded!