Woodforest launches first Virtual Woodforest Foundry

Woodforest National Bank teamed up with LiftFund Dallas/Fort Worth Women’s Business Center to launch its first virtual/online Woodforest Foundry.

The Woodforest Foundry is an award-winning program and recipient of the Consumer Bankers Association’s 2019 Joe Belew Award for the most innovative and impactful small business initiative.

The Woodforest Foundry is facilitated by entrepreneurs, for entrepreneurs, acting as mentors to activate local entrepreneurial ecosystems, which revitalizes underserved communities and helps grow businesses. With the Woodforest Foundry, entrepreneurs find a community of mentors and trusted guidance from peers, Woodforest bankers and community partners.

“Thank you, LiftFund Dallas/Fort Worth Women’s Business Center for working with us to launch the Woodforest Foundry for the first time, 100% online,” said Doug Schaeffer, executive vice president and CRA executive director at Woodforest. “Because supporting entrepreneurship and small businesses is critical, especially now, our team quickly adapted the Woodforest Foundry program into a virtual format that is establishing a network of peers across Woodforest’s footprint despite the COVID-19 pandemic.”

The Woodforest Foundry starts with open community events called Entrepreneurship4All that demystify entrepreneurship through candid conversations with successful entrepreneurs from the community. Next, aspiring entrepreneurs complete a series of educational ideation workshops called Ideas2Action. 

Lastly, entrepreneurs test and validate their ideas in a cohort of their peers, successful small business owners and other professionals who provide mentorship and trusted guidance. Twelve women graduated from this first virtual cohort representing a wide variety of interests.