The AbbVie company announced their partnership with the grant program to encourage women to own their own businesses.
Allergan Aesthetics, the manufacturer of onabotulinumtoxinA (Botox), partnered with IFundWomento ensure women entrepreneurs can apply for grants worth $25,000, coaching, and mentorship. The partnership announced on International Women’s Day (March 8) has the goal of addressing the confidence gap among rising women. Allergan Aesthetics leaders said they are committed to enabling the women leaders of tomorrow by giving them the tools for success today.1
According to the US Bureau of Labor Statistics, women hold more than half of all management and professional level jobs, yet fall behind men in leadership roles in many industries including medicine and health care. While women make up more than 40% of all business owners across the country, the journey there presented additional challenges, leading to the confidence gap. For example, women start with about 50% less working capital and receive 2% of all venture capital funding, while women of color receive less than 1% of funding. The confidence gap can slow down or halt the success and growth of a business.2
In a press release, Caroline Robinson, MD, FAAD said, “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. Being a woman physician and a business owner, I can say the confidence gap is real, but it’s also something that we can overcome.”
Robinson will serve on the advisory board members consisting of clinicians and health care professionals. The board also includes Camille G. Cash, MD; Shawna Chrisman, NP; Michelle Henry, MD, FAAD; Terrence Keaney, MD, FAAD; Sherly Soleiman, MD; and Yvette Suarez, MD. They will select 20 grant recipients to serve their communities with new businesses. Recipients will receive $25,000 in funding, in addition to a year of mentorship and coaching.
Do you know a woman on the rise?
Grant applications are now open through April 7. Recipients will be announced in June and spotlighted throughout 2023.
1. Botox® Cosmetic (onabotulinumtoxina) partners with ifundwomen to help close the confidence gap for women entrepreneurs. News Center. Published March 8, 2023. Accessed March 8, 2023. https://news.abbvie.com/news/press-releases/botox-cosmetic-onabotulinumtoxina-partners-with-ifundwomen-to-help-close-confidence-gap-for-women-entrepreneurs.htm?view_id=4667.
2. Employed persons by detailed occupation, sex, race, and Hispanic or Latino ethnicity. U.S. Bureau of Labor Statistics. Published 2022. Accessed March 8, 2023. https://www.bls.gov/cps/cpsaat11.htm.