Theres different ways to approach them problem. I'm much more inclined to figure out what the deeper problems are and address them (ignorances, biases, misconceptions etc)
I feel that grants may only be patching the surface and don't really address the higher level problems.
My cofounder is a female hacker and I recently mentored a "Ladies Learning Code" event.
From that I've learned its best to communicate why programming is fun and interesting. To get past their misconceptions that its all geeky male culture and actually a really rewarding skillset.
Reducing those misconceptions on both sides will have a long term impact. Humans have been effective at evolving and changing "common sense". Newer generations are incredibly more tolerant of race/gender than older ones. I believe that happens through changing peoples understanding of the issues and trying hard to not further segregate it into us vs them groups.