The Caress 2022 Dreams to Reality Fund applications are now open, in partnership with IFundWomen of Color. 

Applications for the first cohort, which will support 30 diverse founders, are open now through March 4, 2022. Find the application at IFund Women of Color.

Through this initiative, a diverse group of women founders and entrepreneurs will be given the education and resources needed to take their dreams to the next level.

This year, Caress has recommitted an additional $750,000 to IFundWomen of Color—the brand is a founding partner of the organization. 

Olivia Owens, Creator and General Manager of IFundWomen of Color, says, “Since launching IFundWomen of Color in January 2020, Caress has supported women of color small business owners to pursue their dreams with confidence by providing the necessary capital to pay off business debt, develop new products, market to new customers, and more.” 

More Fouders will Get Funding

The 2022 Caress Dreams to Reality Fund will bring 60 founders through crowdfunding accelerator programs—culminating in a $5,000 grant for each business, opportunities to pitch, plus the coaching and creative services needed to execute successful fundraising campaigns.

Two additional runner ups will also receive annual coaching memberships to provide them with education and access to resources from the IFundWomen of Color platform to expand their business acumen.

Caress has invested $1,000,000 over the past two years to fund, support, and elevate women of color entrepreneurs and small business owners.

Karen Laker, Marketing Director of Elida Beauty, says:

“Caress believes that sensorial experiences spark creativity. This is what inspires our belief that no good idea should ever go down the drain. We’re proud of our ongoing support and funding of women of color entrepreneurs, and together with IFundWomen of Color, we’re committed to fighting systems of inequity to ensure these diverse entrepreneurs have a strong foundation to turn their dreams to reality, and are set up for long-term success.”

Statistics Show the Need for Support

According to research from Caress and IFundWomen of Color, a majority 76 percent of women of color small business owners say they need more fundraising guidance overall, and struggle to think of ways to raise and leverage capital for their businesses.

And—women, especially women of color, are more likely to launch new ventures and pursue their passion projects.

Of the 1,800 new businesses started by women in this country every single day, 89% are founded by a woman of color.

Unfortunately, less than 1% of women of color receive venture funding for new ventures, and over 70% of female founders cite lack of access to capital as the number one barrier to starting a business.