Women Grow Launches New Nonprofit, Women Grow Foundation

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In a February press release, Women Grow announced the creation of a 501(c)(3) nonprofit organization, the Women Grow Foundation, which is intended to offer access to education, funding, and advocacy for women-owned and -led businesses in the cannabis industry (1). It will also focus on policy reform, economic empowerment, and professional development. The official launch of the Foundation was during on the first day of the Women Grow Leadership Summit, February 17-18, 2025, in Maryland.

"The Women Grow Foundation is dedicated to empowering women in cannabis through strategic funding, mentorship, and policy advocacy," stated Dr. Chanda Macias, CEO of Women Grow, in the press release. "By addressing systemic barriers and providing targeted resources, we aim to create lasting change and meaningful opportunities for women at all stages of their careers and businesses."

Women Grow is a network of women across both the cannabis and hemp industries. It aims to empower women to succeed in an inclusive and sustainable community through various methods, including education, entrepreneurship, and career development. The Leadership Summit promotes unity and support among industry leaders.

Founding supporter of the Women Grow Foundation Stearns Bank also announced it intended to provide a $5000 check at the Leadership Summit, noting that women entrepreneurs only receive 3% of venture capital funding, though they perform as well as their male counterparts.

"At Stearns Bank, we're committed to building a more inclusive financial services ecosystem where everyone can reach their full financial potential," said Helain Lewis, Community Development Consultant at Stearns Bank. "We are honored to support the Women Grow Foundation in its mission to provide resources, mentorship, and funding for female entrepreneurs in the cannabis industry. By investing in women entrepreneurs, we are investing in a stronger, more equitable industry and strengthening communities nationwide."

The three focus areas for the Foundation are listed as (1):

• Legalization and Policy Reform, which involves advocating for cannabis policy changes at the state and federal levels, supporting grassroots legislative efforts, and ensuring that diverse voices are represented in regulatory discussions.
• Entrepreneurship and Funding, which women to grants, investors, and business development education to help them overcome financial barriers and establish successful businesses.
• Career Development, which provides professional training, mentorship, and job placement assistance to help women advance their careers in the cannabis industry.

Operating under a yearly membership model, the Foundation will also receive funding from donations, memberships, foundations, and state and federal grant programs. The Foundation will offer various membership tiers ranging from Student Memberships ($79 per year) to Corporate Memberships ($500 per year), and the Women Grow Circle Program ($1,000-$5,000 per year).

Reference

1. Women Grow. Women Grow Announces Launch of Women Grow Foundation, a 501(c)(3) Non-Profit Supporting Women in Cannabis https://www.prweb.com/releases/women-grow-announces-launch-of-women-grow-foundation-a-501c3-non-profit-supporting-women-in-cannabis-302376259.html (accessed Mar 6, 2025).