The Private Foundation Also Launches FoundHer Success Kit to Further Support Female Entrepreneurs
TRAVERSE CITY, Mich. (Sept. 23, 2024) – Boundless Futures Foundation, a private foundation founded in 2023 by Soon and McKeel Hagerty, is celebrating its first year of supporting female founders by providing $375,000 in grants to assist early-stage female entrepreneurs. The Foundation awarded $285,000 in EmpowHer grants to 14 female-founded businesses in ten states. The businesses awarded EmpowHer grants address social issues related to poverty and hunger, sustainability and the environment, and strong communities. It has also awarded $90,000 in Her Village grants to nonprofits that support female entrepreneurs.
To celebrate its anniversary, 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. The kit includes templates for a business plan, financial reports, and more. It also includes information on technology available to help founders and resources to help entrepreneurs invest in themselves.
“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. “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.”
Each of the grantees is embraced by an Advisory Circle of seasoned female entrepreneurs who offer mentorship and expertise in the areas of leadership, financial literacy, branding and marketing, and growth and scaling.
The carefully selected EmpowHer grant recipients represent businesses that offer a diverse set of services and products including allergen-free baking mixes, eco-friendly cleaning supplies, a pet treat and accessories company, a specialty coffee company, a company reducing microplastics in the home and the fashion industry, and a metal sorting and recycling software company. 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.
“Here in the U.S. and as I have traveled the world, I have seen that places with more female leaders are happier places and have better industries and many of the businesses are central to growing their communities,” said McKeel Hagerty, CEO, Hagerty (NYSE: HGTY). “These grants are not meant to be a handout but an enhancement to something that is already happening. We are having a blast and hopefully helping to turbocharge the businesses of these female founders.”
The Hagerty family understands female-led entrepreneurship and startups and has founded and led many new ventures over the past decades. Soon Hagerty is a serial entrepreneur who grew her family’s wholesale produce company, co-owned several PR and Marketing firms, and currently co-owns The Good Bowl, a mission-based Vietnamese restaurant. She also co-founded Boundless Futures Foundation. McKeel Hagerty, along with his two sisters, has led the specialty insurance company Hagerty since 1995, which was co-founded and led by his mother.
“In creating this foundation, our hope, ironically, is to not be around forever, because that will mean that the idea of a glass ceiling no longer exists,” said Soon Hagerty. “As we aspire to help as many people as possible, and those people continue to help others, the idea is that this great work will have a boundless impact on society.”