AbbVie ranked No. 23 on The Fair360, formerly DiversityInc Top 50 Companies for Diversity list in 2022.
Allergan Aesthetics, an AbbVie company, announced that Botox Cosmetic is partnering with IFundWomen on a grant to help boost confidence for women entrepreneurs.
The grant program was launched in honor of International Women’s Day, offering 20 grants worth $25,000 each to winning applicants as well as one year of coaching and mentoring.
“Women are empowered, strong and confident. Sometimes all that is needed for success is a little support,” said Carrie Strom, President, Global Allergan Aesthetics and Senior Vice President, AbbVie. “Allergan Aesthetics, the maker of Botox Cosmetic, is focused on empowering confidence through choices backed by science. This partnership and grant program is a natural fit with our brand as is supporting the entrepreneurial ambitions of women. We are committed to enabling the women leaders of tomorrow by giving them the tools for success today.”
Women make up 42% of all business owners in the U.S. but start with 50% less working capital than male business owners. Women also receive approximately 2% of all venture capital funding, with women of color receiving less than 1%.
These disparities lead to a feeling of inadequacy and a lack of confidence, which the partnership between AbbVie and IFundWomen aims to address.
“Success depends as much on confidence as it does on competence,” said Karen Cahn, Founder and CEO of IFundWomen. “Despite the many advancements women entrepreneurs have made because of their high levels of competence, the ‘Confidence Gap’ still very much exists. This is especially true for women founders who struggle to secure funding to grow their businesses. These grant programs provide the funding, mentorship, resources, tools, and connections that create better business outcomes. Being selected for a grant like this is key to changing the ratio and closing the ‘Confidence Gap.'”
IFundWomen is a marketplace for entrepreneurs that aims to close the money gap for women-owned businesses through capital, coaching and connections.