In honor of International Women’s Day, Allergan Aesthetics, an AbbVie company (NYSE: ABBV) today announced that BOTOX® Cosmetic is partnering with IFundWomen, the go-to funding marketplace for women-owned businesses, on a grant program. Women entrepreneurs can apply for the opportunity to receive one of 20 grants worth $25,000 each, as well as a year of coaching and mentorship to boost confidence, advance knowledge, and inspire action.
The goal of the partnership is to help address the “Confidence Gap” among rising women entrepreneurs. In the U.S., women hold more than half of all management and professional level jobs, but they fall behind men in terms of their representation in leadership roles across various industries,1 including medicine1-2 and financial services.3-4
“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.”
While women make up approximately 42 percent of all business owners in the U.S.,5 on average, they start with about 50 percent less working capital6 and receive approximately two percent of all venture capital funding,7 with women of color founders receiving less than one percent of funding.8 These disparities lead to feelings of inadequacy and reinforce the “Confidence Gap,” which can impede the success and growth of their businesses.
“Success depends as much on confidence as it does on competence,” said Karen Cahn, Founder, and Chief Executive Officer 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.'”
“This is an important program for women entrepreneurs of every sector and I’m looking forward to being on the advisory board for this program,” said Caroline Robinson, MD, FAAD, Board-Certified Dermatologist and Founder of Tone Dermatology. “Being a woman physician and a business owner, I can say the ‘Confidence Gap’ is real, but it’s also something that can be overcome. With BOTOX® Cosmetic and IFundWomen, the opportunity for grants, coaching, and mentorship help make that path more straightforward for women entrepreneurs.”
The advisory board consists of entrepreneur healthcare professionals who will aid in the selection of the grant recipients. Board members are Camille G. Cash, MD, Board-Certified Plastic Surgeon and Founder of Camille G. Cash, MD Aesthetic Plastic Surgery; Shawna Chrisman, Nurse Practitioner and CEO of Destination Aesthetics™; Michelle Henry, MD, FAAD, Board-Certified Dermatologist, Mohs Surgeon and Founder of Skin & Aesthetic Surgery of Manhattan; Terrence Keaney, MD, FAAD, Board-Certified Dermatologist and Founder of SkinDC; Caroline Robinson, MD, FAAD, Board-Certified Dermatologist and Founder of Tone Dermatology; Sherly Soleiman, MD, Board-Certified Physician and Founder and Medical Director of Cosmetic Injectables Center; and Yvette Suarez, MD, Board-Certified Physician and Founder and Owner of Bella Excellence.
Applications are open through April 7, 2023, and entrepreneurs are highly encouraged to apply via ifundwomen.com/BOTOXCosmetic for the chance to be one of 20 grant recipients who will receive $25,000 in funding for their business, in addition to mentorship, coaching, and more. Applicants are required to agree to the Official Rules of the grant program. The recipients will be announced in June. By establishing this connection and goodwill today, the hope is to lead future women entrepreneurs to become empowered advocates within their community for long-term impact tomorrow.
About Allergan Aesthetics
Allergan Aesthetics, an AbbVie company, develops, manufactures, and markets a portfolio of leading aesthetics brands and products. Their aesthetics portfolio includes facial injectables, body contouring, plastics, skin care, and more. Their goal is to consistently provide customers worldwide with innovation, education, exceptional service, and a commitment to excellence, all with a personal touch.
AbbVie’s mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people’s lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women’s health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.
IFundWomen is the go-to funding marketplace for entrepreneurs, with a mission to close the money gap for women-owned businesses through its proprietary mix of capital, coaching, and connections. Since its founding, IFundWomen has empowered its members to raise $278M in early-stage capital and to create 55,000 new jobs, helping fuel the small businesses economy. IFundWomen’s marketplace offers its members multiple access points to capital, including crowdfunding, enterprise-brokered grants, collateral-free loans, and the best funding of all – revenue, through its newest product, IFundWomen ServicesX, a marketplace connecting independent business services experts to customers.