LA2050 Grants Challenge applications are open now through June 28th, 2024.
2023 Grants Challenge

The 3.3.3. Challenge

We are issuing a call to action to all women of every social and economic level to be less risk adverse, go beyond philanthropy, be comfortable with building wealth and move some of those dollars into for-profit businesses led by women


What is the primary issue area that your application will impact?

Income Inequality

In which areas of Los Angeles will you be directly working?

County of Los Angeles

In what stage of innovation is this project, program, or initiative?

Pilot or new project, program, or initiative

What is your understanding of the issue that you are seeking to address?

-Black and Latinx entrepreneurs receive less than .5% of venture capital. - all women shrank to 2.1% in 2020 - Women in the U.S. own just $0.32 for every $1owned by a man and the disparities are even wider for women of color. - Women control or influence $12 Trillion of investible assets the in the U.S. - Worldwide women control 75% of consumer discretionary spending. - 80% of women's capital goes to their families and communities, compared to only 30% for men. YET - Women are typically passive investors. - Women are not building wealth at the rate of men. - Women give their money away - but only 7% of all philanthropic dollars go back to women and girls and 3% to women and girls of color. - Women of color fared worse with 0.2% of funding and Black women receiving .0006%.

Describe the project, program, or initiative this grant will support to address the issue.

We Are Enough (WAE) is launching a suite of programs to educate women at every economic level, countywide, on why and how to invest in women-led businesses and/or with a gender lens in the public markets. Our goal is to grow the generational wealth of women, particularly for underrepresented women of color. The United Nations has stated that increasing women's wealth has a greater impact on the Sustainable Development Goals than any single initiative. We are launching a significant global education program and awareness campaign - the "3.3.3 Challenge" - to inspire 3 million women over the next 3 years to invest $3B in women-led businesses and/or with a gender lens in the public markets (average investment of $1000, as per salon survey results below). No other group or fund has had this mission, target or potential. We see activating women around their economic power as the next step in women's empowerment. The #MeToo and #TimesUp movements are important but are reactions to men behaving badly. The 3.3.3 Challenge is proactive and about women embracing and seizing their power. Whether they have 25 cents, $25 or $25M, have a piggy bank or own a bank, we can educate and direct women on how they can invest in women... and change the world!

Describe how Los Angeles County will be different if your work is successful.

This is what happens when women understand that the path to changing the world is through women and their wallets. - Women make money. There's a return on investment that builds generational wealth. Women-led businesses typically outperform males in EVERY measure of profitability. - The money has impact. When more women entrepreneurs receive funding, adverse personnel issues dramatically improve. - The world gets better. Money is 1.17x more likely to go into social impact businesses while improving economic power of women. What happens when women invest their money with intention? Women gain real ROI. They build sustainable wealth and invest in women entrepreneurs creating a sustainable wealth cycle. - Women entrepreneurs get funding. Currently, women-led businesses receive only 3% of venture capital, 22% of angel funding and 4% of loans. For women of color it's worse. Yet women are starting businesses at 1.5x more than men and their businesses are more successful over time.

What evidence do you have that this project, program, or initiative is or will be successful, and how will you define and measure success?

Campaign Metrics Number of Challenge Participants - Target of 3Million Women - Campaign website visits - Participant profile data. Demographics (location, age range, income level, other) Investment Information (interest, tolerance level, amount, type, other) - Investment Destination Click-through rates - Investments Completed including $ Amount & Type (reported by partners and participants) - Other metrics to be determined Program Metrics - Online Education Participants - Campaign Invest Toolkit Requests - Investment in Women-Owned Businesses (reported by partners) - Individual Return on Investment (reported by participants) - Other metrics TBD via campaign consultants, sponsor/grantors and partners

Approximately how many people will be impacted by this project, program, or initiative?

Direct Impact: 10,000

Indirect Impact: 30,000