April 09, 2020

Red Backpack Fund

Since its inception, Spanx and The Spanx by Sara Blakely Foundation have been dedicated to elevating and supporting women through entrepreneurship. Knowing the ripple effect that empowering women can have to strengthen neighborhoods, cities and countries, The Spanx by Sara Blakely Foundation donated $5 million to support female entrepreneurs in the wake of COVID-19 and teamed up with GlobalGiving to establish the Red Backpack Fund. GlobalGiving will be overseeing the fund, making 1,000 grants of $5,000 each to female entrepreneurs in the U.S. to help alleviate the immediate needs and support the long-term recovery of those impacted by this crisis.

In addition to the financial gift, each woman will also receive a “lucky” red backpack. Sara started Spanx with her “lucky” red backpack from college. It was with her every step of the way. The lucky red backpack is a symbol of starting small while dreaming big. It’s become the official icon of The Spanx by Sara Blakely Foundation. It’s a wonderful reminder that everything you need to succeed is already on your back.

Thanks to MasterClass’s generous donation, all 1,000 women will also receive a free annual All-Access Pass to all 80+ MasterClass instructors, including Sara Blakely’s class on entrepreneurship, to provide mentorship to recipients during this time.

Before beginning your application, please confirm you meet the following criteria:

  • You are at least 51% majority-women owned
  • You have withheld payroll taxes for at least one employee in addition to yourself (unfortunately, we are unable to accept applications from sole proprietors, or individuals who exclusively employ contractors at this time)
  • You are registered as a legal entity and have a valid EIN number
  • You have fewer than 50 employees
  • Your annual revenues did not exceed $5M in any of the past three years

Apply here! If you have any questions please contact Natalie Vichnevsky.