Allergan Aesthetics announced that applications are open for the 2024 Botox Cosmetic grant program supporting women entrepreneurs. Botox Cosmetic partnered with IFundWomen to launch the program in 2023, and in the second year, will award a new group of 20 women entrepreneurs each with $25,000 grants to fund and grow their businesses. Additionally, Botox Cosmetic continues to support these businesses through mentorship, coaching, crowdfunding, and community.
The Botox Cosmetic x IFundWomen partnership was born of a desire to extinguish the Confidence Gap, where women feel less self-assured in the workplace and beyond. Women-owned businesses represent approximately 40 percent of all U.S. businesses, employing approximately 12.2 million workers, and generating $2.7 trillion in revenue. And yet, there continues to be a funding disparity with less than 3 percent of venture capital funding going to women-led businesses in 2023 and BIPOC, women-owned businesses continuing to receive less than one percent. Additionally, on average, the loan size for women-owned businesses is 50 percent lower. This lack of financial support continues to expand the Confidence Gap instead of close it. "We are committed to helping close the Confidence Gap through funding, mentorship, and community, and to help women achieve their dreams," says Carrie Strom, president, Global Allergan Aesthetics and senior vice president, AbbVie. "It's proven that when women are supported and come together, they can achieve incredible things and overcome the Confidence Gap. We are so proud of last year's recipients and the community they've built. We are grateful to learn from them and thrilled to continue this program into a second year with a new cohort of extraordinary women entrepreneurs."
In addition to receiving a $25,000 grant for her business, each entrepreneur will complete an immersive 10-week Crowdfunding Coaching Accelerator program, designed to instill not only education, but a sense of community within the group of women entrepreneurs. This program will provide mentoring from various experts on a range of business-focused topics and coaching to launch their individual crowdfunding campaigns. Recipients will also be provided with access to a range of educational and networking opportunities.
Women entrepreneurs across the country can apply for the Botox Cosmetic x IFundWomen grant at www.ifundwomen.com/BOTOXCosmetic for the chance to be one of 20 recipients. The deadline to apply is March 19, 2024.