Female Founders Fund for Woman-Owned Businesses in Southern Virginia
The RISE Female Founders Fund for Woman-Owned Businesses provides micro-grant funding to female entrepreneurs. The Female Founders Fund was established in 2023 to provide additional support and encouragement to female entrepreneurs demonstrating perseverance in pursuing their vision in Southern Virginia.
Who Should Apply
We encourage applications from female entrepreneurs at all stages of their business journey, from early-stage startups to established businesses looking to scale. If you have a vision and the drive to make it a reality, the SOVA RISE Female Founders Fund is here to help you take the next step.
Eligibility criteria: To qualify, businesses must 1) be located in the RISE Collaborative Southern Virginia region*, 2) be at least 51% owned by a woman, as self-reported, 3) submit a completed application, and 4) participate/attend the RISE event associated with the funding round for which you are applying.
Priority will be given to eligible entrepreneurs who demonstrate grit defined as the “perseverance and passion for long-term goals” and the ability to overcome obstacles.
*The RISE Collaborative Southern Virginia region includes 15 localities: Amelia County, Brunswick County, Buckingham County, Charlotte County, Cumberland County, Halifax County, Henry County, Lunenburg County, Mecklenburg County, Nottoway County, Patrick County, Pittsylvania County, Prince Edward County, the City of Danville, and the City of Martinsville.
How to Apply – Round 3: Female Founders Fund at the RISE Summit
Thanks to the generosity of our donors, we are opening another round of the SOVA RISE Female Founders Fund as part of the RISE Regional Summit for Entrepreneurs, happening on Saturday, October 19, 2024 in Danville, VA.
For this round of the Female Founders Fund, eligible entrepreneurs must be planning to attend the RISE Summit and include proof of registration with your application. Register for the RISE Summit >
The application is online. It includes answering a series of questions about your business and a 90-second pitch video introducing yourself, your business, and how you would use the Female Founders Fund to start or scale your business. If you have questions or need assistance with completing the application, please contact a RISE Navigator at navigator@sovarise.com.
Available Funding: One grant award of $1,000
Application deadline: Friday, October 11, 2024
Donate to the Female Founders Fund
The RISE Collaborative SOVA Female Founders Fund for Women-Owned Businesses is seeking donations to increase the prize funds available to eligible entrepreneurs. Donations to this fund are tax-deductible donations to the SOVA Innovation Hub, a 501(c)3 non-profit organization that manages RISE Collaborative.
Donations are an ongoing basis by the SOVA Innovation Hub c/o RISE Collaborative. To make a donation, please complete the RISE Donation Commitment Form and indicate that you want to designate your gift to the SOVA Female Founders Fund. After we receive your form, a member of the SOVA Innovation Hub/RISE team will contact you to setup payment.
Ilsa Loeser, Founder of Letterpress Communications, established the SOVA Female Founder’s Fund with an initial gift in 2023, which was matched by other generous entrepreneurs.
Meet the RISE Female Founders Fund Award Winners
Round 2 – RISE Collaborative awarded three entrepreneurs with prize funds from the RISE Female Founders Fund: Devin Crisman, Tiffany Ferrell, and Lauren Parks through the June 2024 RISE Business Pitch Competition.
Devin Crisman
The Cottage Barn
Ice cream shop and retail store in Clarksville, VA
Tiffany Ferrell
CAREfully Anchored C.A.R.E. Academy
Resource for caregivers that will offer educational trainings, resources, and community support; C.A.R.E. Academy is a new product/service by CAREfully Anchored
Lauren Parks
Danville Massage Therapy Associates
Professional massage therapy and wellness services in Danville, VA
Round 1 – RISE Collaborative awarded two entrepreneurs with prize funds from the RISE Female Founders Fund: Mary Bagwell and Tara Lucas through the March 2023 RISE Businses Pitch Competition.
Mary Bagwell
Owner, TOASTED by Southern Plenty
Mary Bagwell of Halifax County, VA, owner of TOASTED by Southern Plenty, pitched her startup concept to launch a new, specialty retail store with a plan to scale through e-commerce. Mary received an award of $1,250 from the RISE Female Founders Fund as part of the 2023 RISE Business Pitch Competition. Mary is a completer of the Winter 2023 RISE Business Bootcamp and a previous winner of the Downtown South Boston Community Business Launch.
Tara Lucas
Owner, Sweetcakes Bakery by The Cheesecake Lady
Tara Lucas of Martinsville, VA, owner of Sweetcakes Bakery by The Cheesecake Lady. She pitched her concept to expand from a limited-service bakery into a restaurant. Tara received an award of $1,250 from the RISE Female Founders Fund as part of the 2023 RISE Business Pitch Competition. Tara is a completer of the Winter 2023 RISE Business Bootcamp and has also completed training through the Martinsville-Henry County Startup/Grow business programs.
Female Founders in the Spotlight
“Four Female Founders Talk Pricing” was a live panel discussion hosted by Letterpress Communications on Facebook Live on May 17, 2023. Featured speakers include:
- Mary Bagwell, Founder of Toasted by Southern Plenty (South Boston, VA)
- Tara Lucas, Founder of Sweetcakes Bakery by the Cheesecake Lady (Martinsville, VA)
- Natalie Hodge, Founder of Rudy’s Girl Media (Martinsville, VA)
- Ilsa Loeser, Founder of Letterpress Communications (Farmville, VA)
Donate to the Female Founders Fund for Women-Owned Businesses
Thank you in advance for your support of the RISE Collaborative SOVA Female Founders Fund for Women-Owned Businesses. Donations are tax-deductible contributions to the SOVA Innovation Hub, a 501(c)3 non-profit organization which manages the RISE Collaborative regional entrepreneurship & innovation initiative.