Longman Dictionary of Contemporary English - found

~1 the past tense and past participle of find1 ~2 v 1 to start something such as an organization, company, or city  (Founded in 1935 in Ohio, Alcoholics Anonymous is now a world-wide organization.) 2 to start something such as a school or hospital, by providing money for it  (Eton College was founded by Henry VI in 1440.) 3 be founded on a) to be the main idea, belief etc that something else develops from  (Racism is not founded on rational thought, but on fear.) b) to be the solid layer of cement, stones etc that a building is built on  (The castle is founded on solid rock.) 4 technical to melt metal and pour it into a mould (=a hollow shape), to make things such as tools, parts for machines etc - founding n  (the founding of the University of Chicago)  (- see also foundation, well­founded)