BOTOX® Cosmetic (onabotulinumtoxinA) Partners with IFundWomen to Help Close the Confidence Gap for Women Entrepreneurs

Rhea-AI Summary

On March 8, 2023, Allergan Aesthetics, part of AbbVie (NYSE: ABBV), announced a partnership with IFundWomen to support women entrepreneurs on International Women's Day. The initiative provides 20 grants of $25,000 each along with a year of coaching and mentorship to help close the 'Confidence Gap' in business. Women entrepreneurs face significant funding disparities, receiving only about 2% of venture capital, impacting their growth potential. Applications are open until April 7, 2023, with recipients announced in June 2023. The program aims to empower future women leaders by providing essential resources for success.

Positive

• Launch of a grant program providing 20 grants of $25,000 each to women entrepreneurs.
• Partnership with IFundWomen aims to close the 'Confidence Gap' in business funding for women.
• Includes a year of coaching and mentorship to support grant recipients.

Negative

• None.

NEW PARTNERSHIP PROVIDES TRANSFORMATIVE GRANTS TO EMPOWER CONFIDENCE

IRVINE, Calif., March 8, 2023 /PRNewswire/ -- In honor of International Women's Day, Allergan Aesthetics, an AbbVie company (NYSE: ABBV) today announced that BOTOX^® Cosmetic is partnering with IFundWomen, the go-to funding marketplace for women-owned businesses, on a grant program. Women entrepreneurs can apply for the opportunity to receive one of 20 grants worth $25,000 each, as well as a year of coaching and mentorship to boost confidence, advance knowledge, and inspire action.

The goal of the partnership is to help address the "Confidence Gap" among rising women entrepreneurs. In the U.S., women hold more than half of all management and professional level jobs, but they fall behind men in terms of their representation in leadership roles across various industries,¹ including medicine^1-2 and financial services.^3-4

"Women are empowered, strong, and confident. Sometimes all that is needed for success is a little support," said Carrie Strom, President, Global Allergan Aesthetics and Senior Vice President, AbbVie. "Allergan Aesthetics, the maker of BOTOX^® Cosmetic, is focused on empowering confidence through choices backed by science. This partnership and grant program is a natural fit with our brand as is supporting the entrepreneurial ambitions of women. We are committed to enabling the women leaders of tomorrow by giving them the tools for success today."

While women make up approximately 42 percent of all business owners in the U.S.,⁵ on average, they start with about 50 percent less working capital⁶ and receive approximately two percent of all venture capital funding,⁷ with women of color founders receiving less than one percent of funding.⁸ These disparities lead to feelings of inadequacy and reinforce the "Confidence Gap," which can impede the success and growth of their businesses.

"Success depends as much on confidence as it does on competence," said Karen Cahn, Founder, and Chief Executive Officer of IFundWomen. "Despite the many advancements women entrepreneurs have made because of their high levels of competence, the 'Confidence Gap' still very much exists. This is especially true for women founders who struggle to secure funding to grow their businesses. These grant programs provide the funding, mentorship, resources, tools, and connections that create better business outcomes. Being selected for a grant like this is key to changing the ratio and closing the 'Confidence Gap.'" 

"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," said Caroline Robinson, MD, FAAD, Board-Certified Dermatologist and Founder of Tone Dermatology. "Being a woman physician and a business owner, I can say the 'Confidence Gap' is real, but it's also something that can be overcome. With BOTOX^® Cosmetic and IFundWomen, the opportunity for grants, coaching, and mentorship help make that path more straightforward for women entrepreneurs."

The advisory board consists of entrepreneur healthcare professionals who will aid in the selection of the grant recipients. Board members are Camille G. Cash, MD, Board-Certified Plastic Surgeon and Founder of Camille G. Cash, MD Aesthetic Plastic Surgery; Shawna Chrisman, Nurse Practitioner and CEO of Destination Aesthetics™; Michelle Henry, MD, FAAD, Board-Certified Dermatologist, Mohs Surgeon and Founder of Skin & Aesthetic Surgery of Manhattan; Terrence Keaney, MD, FAAD, Board-Certified Dermatologist and Founder of SkinDC; Caroline Robinson, MD, FAAD, Board-Certified Dermatologist and Founder of Tone Dermatology; Sherly Soleiman, MD, Board-Certified Physician and Founder and Medical Director of Cosmetic Injectables Center; and Yvette Suarez, MD, Board-Certified Physician and Founder and Owner of Bella Excellence. 

Applications are open through April 7, 2023, and entrepreneurs are highly encouraged to apply via ifundwomen.com/BOTOXCosmetic for the chance to be one of 20 grant recipients who will receive $25,000 in funding for their business, in addition to mentorship, coaching, and more. Applicants are required to agree to the Official Rules of the grant program. The recipients will be announced in June. By establishing this connection and goodwill today, the hope is to lead future women entrepreneurs to become empowered advocates within their community for long-term impact tomorrow.

Visit BotoxCosmetic.com/RealImpact to learn more about this partnership and follow along on the @botoxcosmetic Instagram and YouTube channels to help women fund their businesses.

BOTOX^® COSMETIC IMPORTANT SAFETY INFORMATION

BOTOX^® Cosmetic may cause serious side effects that can be life threatening. Get medical help right away if you have any of these problems any time (hours to weeks) after injection of BOTOX^® Cosmetic:

• Problems swallowing, speaking, or breathing, due to weakening of associated muscles, can be severe and result in loss of life. You are at the highest risk if these problems are pre-existing before injection. Swallowing problems may last for several months.
• Spread of toxin effects. The effect of botulinum toxin may affect areas away from the injection site and cause serious symptoms including: loss of strength and all-over muscle weakness, double vision, blurred vision and drooping eyelids, hoarseness or change or loss of voice, trouble saying words clearly, loss of bladder control, trouble breathing, and trouble swallowing.

BOTOX^® Cosmetic dosing units are not the same as, or comparable to, any other botulinum toxin product.

There has not been a confirmed serious case of spread of toxin effect when BOTOX^® Cosmetic has been used at the recommended dose to treat frown lines, crow's feet lines, and/or forehead lines.

BOTOX^® Cosmetic may cause loss of strength or general muscle weakness, vision problems, or dizziness within hours to weeks of taking BOTOX^® Cosmetic. If this happens, do not drive a car, operate machinery, or do other dangerous activities.

Serious and/or immediate allergic reactions have been reported. They include: itching, rash, red itchy welts, wheezing, asthma symptoms, or dizziness or feeling faint. Get medical help right away if you are wheezing or have asthma symptoms, or if you become dizzy or faint.

Do not receive BOTOX^® Cosmetic if you: are allergic to any of the ingredients in BOTOX^® Cosmetic (see Medication Guide for ingredients); had an allergic reaction to any other botulinum toxin product such as Myobloc^® (rimabotulinumtoxinB), Dysport^® (abobotulinumtoxinA), or Xeomin^® (incobotulinumtoxinA); have a skin infection at the planned injection site.

Tell your doctor about all your muscle or nerve conditions, such as ALS or Lou Gehrig's disease, myasthenia gravis, or Lambert-Eaton syndrome, as you may be at increased risk of serious side effects including difficulty swallowing and difficulty breathing from typical doses of BOTOX^® Cosmetic.

Tell your doctor about all your medical conditions, including: plans to have surgery; had surgery on your face; have trouble raising your eyebrows; drooping eyelids; any other abnormal facial change; are pregnant or plan to become pregnant (it is not known if BOTOX^® Cosmetic can harm your unborn baby); are breast-feeding or plan to (it is not known if BOTOX^® Cosmetic passes into breast milk).

Tell your doctor about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Using BOTOX^® Cosmetic with certain other medicines may cause serious side effects. Do not start any new medicines until you have told your doctor that you have received BOTOX^® Cosmetic in the past.

Tell your doctor if you have received any other botulinum toxin product in the last 4 months; have received injections of botulinum toxin such as Myobloc^®, Dysport^®, or Xeomin^® in the past (tell your doctor exactly which product you received); have recently received an antibiotic by injection; take muscle relaxants; take an allergy or cold medicine; take a sleep medicine; take aspirin-like products or blood thinners.

Other side effects of BOTOX^® Cosmetic include: dry mouth; discomfort or pain at the injection site; tiredness; headache; neck pain; and eye problems: double vision, blurred vision, decreased eyesight, drooping eyelids and eyebrows, swelling of your eyelids and dry eyes.

APPROVED USES

BOTOX^® Cosmetic is a prescription medicine that is injected into muscles and used to temporarily improve the look of moderate to severe forehead lines, crow's feet lines, and frown lines between the eyebrows in adults.

For more information refer to the Medication Guide or talk with your doctor.

To report a side effect, please call Allergan at 1-800-678-1605.

Please see BOTOX^® Cosmetic full Product Information including Boxed Warning and Medication Guide.

About Allergan Aesthetics
Allergan Aesthetics, an AbbVie company, develops, manufactures, and markets a portfolio of leading aesthetics brands and products. Their aesthetics portfolio includes facial injectables, body contouring, plastics, skin care, and more. Their goal is to consistently provide customers worldwide with innovation, education, exceptional service, and a commitment to excellence, all with a personal touch. 

About AbbVie
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.

About IFundWomen
IFundWomen is the go-to funding marketplace for entrepreneurs, with a mission to close the money gap for women-owned businesses through its proprietary mix of capital, coaching, and connections. Since its founding, IFundWomen has empowered its members to raise $278M in early-stage capital and to create 55,000 new jobs, helping fuel the small businesses economy. IFundWomen's marketplace offers its members multiple access points to capital, including crowdfunding, enterprise-brokered grants, collateral-free loans, and the best funding of all – revenue, through its newest product, IFundWomen ServicesX, a marketplace connecting independent business services experts to customers. To learn more about IFundWomen, please visit www.ifundwomen.com. Follow @ifundwomen on LinkedIn, Instagram, Facebook, Twitter, and TikTok.

References

1. U.S. Bureau of Labor Statistics, "Labor Force Statistics from the Current Population Survey: Employed persons by detailed occupation, sex, race, and Hispanic or Latino ethnicity." 2022.
2. Association of American Medical Colleges, "Table 10: 2015 Benchmarking—Permanent and Interim Decanal Positions" (2016)
3. Catalyst, "Women In Financial Services," 2020.
4. Claire Zillman, "With First Woman CFO Dhivya Suryadevara, GM Enters Rare Fortune 500 Territory," Fortune, 2018.
5. National Women's Business Council. Annual Report. 2021.
6. National Women's Business Council. Access to Capital by High-Growth Women-Owned Businesses. 2014.
7. PitchBook. US VC Female Founders Dashboard. 2023.
8. digitalundivided's ProjectDiane 2020: The State of Black & Latinx Women Founders. 2020.

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SOURCE AbbVie

FAQ

What is the goal of the partnership between ABBV and IFundWomen?

The partnership aims to empower women entrepreneurs by providing grants and mentorship to help close the 'Confidence Gap' in funding.

How many grants are being offered in the ABBV and IFundWomen program?

The program offers 20 grants of $25,000 each to women entrepreneurs.

What is the deadline to apply for the ABBV and IFundWomen grants?

Applications for the grants are open until April 7, 2023.

When will the recipients of the ABBV and IFundWomen grants be announced?

The grant recipients will be announced in June 2023.

What support does the ABBV and IFundWomen program provide besides funding?

The program also offers a year of coaching and mentorship for grant recipients.