Mayor Ras J. Baraka, Newark Community Economic Development Corporation President and CEO Aisha Glover, and iFundWomen Founder and CEO Karen Cahn launched iFundWomen Newark, the first crowdfunding platform for women entrepreneurs, at a press conference today at City Hall.
The initiative is a pioneering, crowdfunding hub that is designed to help women entrepreneurs in Newark and its immediate region to fund their startups and small businesses. The deadline for entries is Thursday, September 21, 2017, and the platform will officially launch in the Fall 2017. The iFundWomen team will vet all applicants, and those selected will be featured in the inaugural cohort. This cohort will have access to one-on-one expert business and crowdfunding coaching and video production services to help them tell their stories and reach their goals.
“We are thrilled to partner with Mayor Ras Baraka and the City of Newark to help make iFundWomen Newark a reality,” said iFundWomen CEO Karen Cahn. “Women are starting businesses at two times the rate of men, and operate with only half of the working capital, so it’s critical that we partner and mobilize our collective resources to help close the female funding gap.”
“We are committed to strengthening Newark’s vibrant community of entrepreneurs so they are able to start and grow their businesses right here in the neighborhood. iFundWomen Newark will help advance our mission to become a competitive hub for creative business and innovation,” said Mayor Baraka.
iFundWomen Newark will be a one-stop resource for those who want to support the launch and growth of women-led businesses through financial contributions of any amount. Backers can discover businesses, choose unique rewards for their support, and track the financial progress of all campaigns featured.
“Although women are one of the fastest growing segments of entrepreneurship, helping them secure access to capital remains a challenge,” said Aisha Glover, president and CEO of NCEDC. “We are excited to partner with iFundWomen on the launch of this campaign, using their creative platform to allow people to identify and invest in Newark’s innovation and talent.”
