Women entrepreneurs get financial boost from new private foundation

A private foundation founded in 2023 to support female entrepreneurs celebrated its first anniversary by awarding $375,000 in grants to 14 female-founded businesses in 10 states, including two in Michigan.

Boundless Futures Foundation's EmpowHer grants address social issues related to poverty and hunger, sustainability and the environment, and strong communities. To also mark the occasion, the foundation is enhancing its business support to female founders by launching the FoundHer Success Kit, a set of templates and resources to help founders grow their businesses. 

“I have been so inspired by the stories and ambition of these female founders and the commitment they have to their businesses while also wanting to strengthen their communities,” said Soon Hagerty, co-founder and president of Boundless Futures Foundation, based in Traverse City. “In our first year, we are more convinced than ever that capital is only one piece of the puzzle, and that one-on-one mentorship is absolutely key to success for some of these female entrepreneurs.” 

What’s happening:  Boundless Futures Foundation, founded in 2023 by Soon and McKeel Hagerty, has awarded $285,000 in EmpowHer grants to 14 women’s businesses in 10 states. Recipient businesses address social issues related to poverty and hunger, sustainability and the environment, and strong communities. In addition, the foundation has awarded $90,000 in Her Village grants to nonprofits that support female entrepreneurs.  

Michigan recipients: Two Michigan women and a Traverse City nonprofit were among the first grant recipients.

An EmpowHer grant went to Ellie Kebler’s Archie's Dog Co. in Traverse City.  Kebler launched Archie’s Dog Co. in response to her own golden retriever’s health problems. Its mission: creating dog treats made with USDA-approved, human-grade ingredients. Archie’s Dog Co. partners with Grand Traverse Industries, a nonprofit that employs people with disabilities, for packaging the treats. The business also donates a portion of revenue to the Cherryland Humane Society.

The other recipient, Tina Arroyo, founded Spectacle Society in Detroit.
Its mission:  to help people see the beauty in their uniqueness through their eyewear. Arroyo is one of only 11 opticians in Detroit certified by the American Board of Opticianry.  

Traverse Connect received a Her Village Grant. In December 2019, Traverse Connect and the Traverse City Area Chamber of Commerce merged to serve as the lead economic development organization for the Grand Traverse Region.

EmpowHer grant recipients all represent businesses that offer a diverse set of services and products. Other grant recipients include businesses that offer  allergen-free baking mixes, eco-friendly cleaning supplies, a specialty coffee company, a company reducing microplastics in the home and the fashion industry, and a metal sorting and recycling software company. 

Awards are aimed at female entrepreneurs 22 years of age or older. 

It takes more than money: The anniversary milestone also includes the launch of the FoundHer Success Kit, a set of templates and resources to help founders grow their businesses. The kit includes templates for a business plan, financial reports, information on technology available to help founders and resources to help entrepreneurs invest in themselves. The Foundation focuses on providing grant funding to founders in the early stages of starting a business and also provides access for individual grantees to a supportive network. 

Soon Hagerty, president of Boundless Futures Foundation, says that capital is only one piece of the puzzle in terms for new businesses, and that one-on-one mentorship is absolutely key to success for some female entrepreneurs. So, each of the grantees is embraced by an advisory circle of seasoned female entrepreneurs who offer mentorship and expertise in leadership, financial literacy, branding and marketing, and growth and scaling. 

What’s next: EmpowHer grants are currently open for similar amounts for the next quarter and Her Village grants for nonprofits will reopen in the next few months. EmpowHer grants are issued quarterly, and female founders can be awarded up to $25,000. Her Village grants to mission-aligned nonprofits are awarded twice a year.  

Learn more about past grantees and Boundless Futures Foundation, apply for funding, or obtain other resources by visiting boundlessfutures.org; for more information, follow Boundless Futures on LinkedIn, Instagram and Facebook. 

Rosemary Parker has worked as a writer and editor for more than 40 years. She is a regular contributor to Rural Innovation Exchange and other Issue Media Group publications.