Women Entrepreneur Grants: Are You Familiar with These 11 Programs?

Are you a woman entrepreneur looking for funding to take your business to new heights? Well, you’re in luck! The world of grants is brimming with opportunities specifically designed to support women-owned businesses.

According to the 2019 State of Women-Owned Businesses Report, the number of women-owned businesses surged by a staggering 21% between 2014 and 2019, reaching a remarkable total of nearly 13 million.

This remarkable growth surpassed that of all other businesses, with women-owned firms exhibiting a double annual growth rate. These businesses have not only made their mark on the entrepreneurial landscape but have also contributed significantly to the economy, generating a total revenue of $1.9 trillion.

However, despite their undeniable success, women entrepreneurs often encounter obstacles when trying to secure funding. Many banks and lenders are turning them away, making it difficult for them to access the capital needed for expansion and innovation.

Thankfully, alternatives have emerged in the form of technology-driven financial lending sources like online loans, peer-to-peer loans, and crowdfunding. Additionally, one avenue that is often overlooked but holds great potential is government grants.

In this article, we will empower you with knowledge about 15 women entrepreneur grants that can provide the financial support your business needs.

Whether you’re in the early stages or looking to scale your operations, these grants offer a unique opportunity to have venture capital funding fuel your entrepreneurial dreams.

So, stay with us as we explore these grants in detail, revealing their application processes and eligibility criteria.

Get ready to discover a world of funding opportunities tailored specifically for women-owned businesses. Your path to success begins here!

What is a Women Entrepreneur Grant?

A women entrepreneur grant is a special type of funding that is specifically designed to support women-owned businesses. Unlike traditional business loans, or investments, women entrepreneurs grants are a type of financial assistance that does not require repayment.

They are like free money given to women entrepreneurs to help them start or grow their businesses. These grants are often provided by different sources such as the government, private foundations, or corporations.

However, to qualify for a grant, women entrepreneurs need to meet certain criteria set by the grant provider. The application process for grants can be complex and time-consuming, requiring thorough research, careful adherence to guidelines, and competition with other businesses.

If awarded a grant, recipients may also need to report on how they utilize the funds. In essence, women entrepreneurs need to be well-prepared and organized both during the application process and afterward.

How Women Entrepreneur Grants work?

Grants are like getting free money, which is way better than taking out loans. However, it’s not as simple as just asking for it and getting it right away.

The process of applying for a grant can be long and require a lot of effort, and you might have to wait for a while before you find out if you’re approved. Plus, you need to meet certain requirements to be eligible for a grant.

Grants come in different types, such as those offered by the government (federal grants) or by private organizations, non-profits, and charitable foundations.

The organization giving out the grant (called the grantor) decides the qualifications and rules that the person or organization receiving the grant money (called the grantee) must follow.

If you’re a woman who owns a business, experts suggest looking into grants at the state level. State and business grants for women will often have less strict requirements, and you might have more options available compared to federal grants.

Each state has its own website with a section dedicated to businesses, where you can find information about grants specifically for the small business owners or businesses owned by women or minority groups.

Some states even have grant programs for women-owned businesses in fields that are typically dominated by men, like construction. So, it’s a good idea to start by checking your state’s website and see what grant options are out there for you.

11 Women Entrepreneur Grants

Here are 11 grants that can help women-owned businesses. These grants are designed to provide financial support and resources to help women entrepreneurs succeed.

1. National Association for the Self-Employed Growth Grants

The National Association for the Self-Employed (NASE) is a nonprofit organization that assists entrepreneurs with running successful businesses. NASE offers business development grants called Growth Grants, providing up to $4,000.

These grants can be used for marketing, advertising, hiring employees, expanding facilities, and other specific business needs.

To apply, you must be a member, explain how the grant would fulfill a business need, and provide supporting documents like a business plan.

2. Cartier Women’s Initiative Award

The Cartier Women’s Initiative is an annual international entrepreneurship program empowering female entrepreneurs. Women-owned businesses from any country and sector focusing on sustainability and/or the environment can apply.

The program awards three grants per region, with the first-place award being $100,000, the second-place award $60,000, and the third-place award $30,000. Winners also receive expert coaching, business workshops, and media coverage.

To be eligible, you must own or run a for-profit business in the early stages of development and align with at least one of the United Nations Sustainable Development Goals.

3. FedEx Small Business Grant

The FedEx Small Business Grant is an annual program that provides financial support to small businesses, especially those owned by women.

Up to $50,000 in grants are awarded to several winners, with gold, silver, and bronze categories. Along with the cash prize, the winners also receive helpful FedEx business products to boost their business.

To apply for this grant, you need to submit a business plan, a description of your business, and optionally photos and videos showcasing your business goals. If you want to learn about previous winners, you can find more information on their website.

4. SoGal Black Founder Startup Grant

The SoGal Black Founder Startup Grant aims to support Black women and non-binary entrepreneurs. This grant recognizes that Black women founders face many challenges when it comes to getting funding for their businesses.

To help address this, the SoGal Foundation partners with various sponsors to provide cash grants of $10,000 and $5,000.

To be eligible, you must identify as a Black woman or Black non-binary entrepreneur, have a legally registered business, and plan to seek investor financing to grow your business.

Your idea or solution should have the potential to make a big impact and become a billion-dollar business. Grants are awarded on an ongoing basis, and you can apply through a form on the SoGal website.

5. Visa Global She’s Next Grant Program

The Visa Global She’s Next Grant Program is a collaboration between Visa and IFundWomen that aims to support women-owned small businesses worldwide.

Throughout the year, they launch different programs that offer funding, coaching, and memberships to women entrepreneurs. So far, they have provided $1.6 million in funding through 149 business grants and 159 coaching grants.

The program is always looking for new opportunities to help women business owners, so keep an eye on the She’s Next Grant Program website for updates and new opportunities to apply for grants.

6. Tory Burch Foundation Fellows Program

The Tory Burch Foundation runs a special program for women entrepreneurs called the Fellows program. Every year, they select 50 women to be fellows.

If chosen, you’ll receive a one-year fellowship that includes a $5,000 grant to help you improve your business skills.

You’ll also get access to an online community where you can connect and work with other founders. As a bonus, you’ll even have the opportunity to visit the Tory Burch offices in New York City.

To qualify for this program, your business needs to be majority women-owned, based in the United States, and making at least $75,000 in revenue. The application process is free and opens in the fall.

7. Fearless Fund

Fearless Fund is a venture capital organization that aims to support women of color entrepreneurs in building successful and rapidly growing companies. They offer two grant programs:

• Fearless Strivers Grant Contest: In partnership with Mastercard, this grant provides $10,000 grants and digital tools to help Black women-owned small businesses across the country establish and sustain an online presence. The grant has a rolling deadline, meaning applications are accepted continuously.
• Women of Color Grant Program: In collaboration with the Tory Burch Foundation and Goldman Sachs’ One Million Black Women initiative, this program awarded $10,000 to $20,000 grants to 150 small businesses. The application period for 2022 is now closed.

 

8. Women Founders Network Fast Pitch Competition

This annual competition is open to early-stage, women-owned businesses in the United States that have high growth potential. The company must have a woman founder, co-founder, or CEO, or the majority ownership must belong to a woman.

The business should have received no more than $750,000 in external funding, including personal investments.

Five finalists are selected to pitch their companies to angel investors and venture capitalists for a chance to win over $55,000 in cash prizes and more than $100,000 in professional services.

9. Digitalundivided Breakthrough Program

Digitalundivided is a nonprofit organization focused on promoting economic growth in Latina and Black women communities.

Their BREAKTHROUGH program, developed in collaboration with JPMorgan Chase’s Advancing Black Pathways initiative, offers support to founders by providing funding, growth marketing strategies, networking opportunities, and a deeper understanding of their customers. Each accepted company receives a $5,000 grant.

To be eligible, founders must identify as women and as Black or Latina (or both), have a registered business operating for at least a year, own the majority stake in an established business with traction, have a technology component in their business (such as a website or mobile app), and generate a minimum of $50,000 in annual business revenue.

Applications are accepted on a rolling basis for specific cities, so it’s important to check their website for information on upcoming cohorts.

10. Dream Big Awards

The U.S. Chamber of Commerce presents the Dream Big Awards to honor and celebrate outstanding American small businesses.

The winner of the Dream Big Small Business of The Year award receives a $25,000 cash prize, a one-year Chamber of Commerce membership, a promotional video about their business showcased during the awards ceremony, and a feature article in CO magazine.

There are also eight other awards in categories such as Minority-Owned Business Achievement, LGBTQ-Owned Business Achievement, Woman-Owned Business Achievement, and Community Support and Leadership.

To be eligible, businesses must operate for at least one year, primarily in the United States, with fewer than 250 employees or gross revenues under $20 million in each of the previous two years.

11. Amber Grants for Women

The Amber Grant is a monthly grant of $10,000 for women-owned businesses. In addition to the monthly grants, there is also a year-end grant of $25,000 awarded to one recipient in December.

This grant was established in memory of a young woman named Amber who had entrepreneurial dreams but passed away before fulfilling them. To apply for the Amber Grant, women can visit the Amber Grants for Women website.

A judging panel from WomensNet selects the grant winners. The application process is straightforward, requiring information about the business and how the grant would be utilized. There is a $15 application fee, but fee waivers can be requested.

Guidelines for Applying for Female Entrepreneur Grants

Here are some tips you need to know before applying for Female Entrepreneur Grants:

• Gather all available grants: Explore various funding programs, including those specifically designed for different demographic groups and funding purposes. This ensures you have a comprehensive list of options to consider.
• Find grants aligned with your business goals: Review the eligibility criteria and requirements of each grant to identify the ones that closely match your business objectives. Focusing on grants that align with your goals increases your chances of success.
• Contact the grant agencies: Reach out to the grant agencies directly to gain a better understanding of their expectations and selection criteria. This direct communication can help you stand out from other applicants.
• Develop a solid plan: Create a one-page draft of your grant application statement. This plan should clearly articulate your business idea, goals, and how the grant funding will be utilized.
• Gather necessary documents: Many grant organizations require supporting documents such as a business plan. Organize these documents in advance so that you can readily provide them when requested by the grant agency.
• Submit an excellent application: Follow all the requirements outlined in the grant program guide to maximize your chances of success. Pay attention to details, provide concise and compelling answers, and submit your application on time.

Alternative Funding Options for Female Entrepreneurial Businesses

In addition to grants, there are numerous other funding options available for women entrepreneurs. These include crowdfunding, business competitions, loans, and incubators. It’s important for female entrepreneurs to explore these alternative funding sources to support their businesses.

• Crowdfunding

Crowdfunding platforms provide a way for entrepreneurs to raise funds from a large number of individuals who believe in their business idea.

By presenting their project or product on crowdfunding websites, female entrepreneurs can attract investors who are interested in supporting innovative ventures.

This approach not only helps raise capital but also provides an opportunity to gain exposure and build a community around the business.

• Business Competitions

Business competitions are another avenue for funding. Many organizations and institutions host competitions that offer financial prizes to winners.

These competitions often focus on specific industries or sectors and provide female entrepreneurs with a chance to showcase their business plans and ideas to a panel of judges.

Winning such competitions not only brings in funds but also adds credibility and visibility to the small business administration.

• Loans

Loans are a common financing option for entrepreneurs. There are various types of loans available, including those specifically designed for women-owned businesses.

These loans often come with favorable terms and conditions, such as lower interest rates or flexible repayment options.

Women entrepreneurs should explore loan programs offered by financial institutions or specialized lenders that support women in business.

• Incubators

Incubators can be valuable resources for female entrepreneurs. These programs provide a supportive environment for startups, offering mentoring, networking opportunities, and access to resources and expertise.

Incubators often provide funding through equity investments or grants, along with the necessary guidance to help businesses grow and succeed.

By considering these different funding options, women entrepreneurs can access the financial resources needed to support their businesses’ growth and development.

Top In-kind Support Programs for Women Entrepreneurs

In-kind support programs play a crucial role in helping female entrepreneurs beyond just financial assistance.

These programs, offered by academia or non-profit organizations, provide valuable resources business education, mentorship, and networking opportunities, empowering women to excel in their entrepreneurial endeavors.

1. Accelerators

Accelerators play a crucial role in supporting the growth and development of startups. They provide a structured program and resources to help entrepreneurs scale their businesses at an accelerated pace. Here are some notable accelerator programs and their types:

• YSpace (York University) – ELLA Ascend: ELLA Ascend is a 5-month accelerator program specifically designed for women entrepreneurs. Its aim is to fast-track the growth of their businesses.
• Venturepark Labs – Accelerator: Venturepark Labs has been delivering Canada’s top accelerator program for consumer products since 2015. It offers a four-month program where entrepreneurs receive support from industry leaders and gain access to investment capital and skilled brand builders.
• Queen’s Partnerships and Innovation and L-SPARK – Compass North: This five-month accelerator program focuses on supporting women-led startups in the greater Kingston region. It provides dedicated mentors who assist founders in strategic thinking and goal achievement.
• Innovation Guelph – Rhyze Up! Accelerator: Rhyze Up! is a national accelerator program for women-founded scale-ups across Canada. It provides business scale-up services and one-on-one leadership coaching sessions.
• Innovation Cluster – Women Breaking Barriers: Women Breaking Barriers is the first virtual accelerator program that promotes women pursuing innovative careers in STEM and social innovation. It also supports women interested in relocating their businesses to the Peterborough and Kawarthas region.

2. Entrepreneurship Programs

Entrepreneurship programs provide valuable resources and guidance to aspiring entrepreneurs, helping them navigate the challenges of starting and growing their businesses. Here are some notable entrepreneurship programs and their types:

• Startup Canada – Startup Women: Startup Women supports women entrepreneurs through mentorship, events, and resources. It aims to break down the unique barriers faced by women when building a business and assists them in achieving their growth and future goals.
• Invest Ottawa – SheBoot: SheBoot is a six-week-long bootcamp that prepares women founders to pitch their businesses and secure investment.
• Communitech – Fierce Founders Bootcamp: This six-week bootcamp is dedicated to supporting women and non-binary founders. It helps early-stage companies by encouraging them to think big about their markets and validating their business ideas.
• ventureLAB – Tech Undivided: Tech Undivided is a comprehensive six-month program designed to help women-led tech companies scale their businesses. It offers resources, networking opportunities, and expertise in capital, talent, IP and technology, and customers.

These accelerator and entrepreneurship programs provide invaluable support to entrepreneurs, particularly women, in their journey of starting and growing successful businesses. By offering mentorship, resources, and networking opportunities, they contribute to the empowerment and advancement of underrepresented founders in the startup ecosystem.

Conclusion

Female entrepreneurs have access to a wide range of funding opportunities and support programs to help them succeed. By following a systematic approach to applying for grants, women can increase their chances of securing funding for their businesses.

Additionally, exploring alternative funding options such as crowdfunding, business competitions, small business grants, and incubators can provide additional avenues for financial support.

In-kind support programs, including accelerators and entrepreneurship programs, offer valuable resources and mentorship to help women entrepreneurs grow and scale their ventures.

With the right resources and determination, women entrepreneurs can make a significant impact on the Canadian economy and achieve success in their business endeavors.

 

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