The Collaborative International Dictionary of English v.0.48:

Found \Found\, v. t. [imp. & p. p. Founded; p. pr. & vb. n.
   Founding.] [F. fondre, L. fundere to found, pour.]
   To form by melting a metal, and pouring it into a mold; to
   cast. "Whereof to found their engines." --Milton.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Found \Found\, v. t. [imp. & p. p. Founded; p. pr. & vb. n.
   Founding.] [F. fonder, L. fundare, fr. fundus bottom. See
   1st Bottom, and cf. Founder, v. i., Fund.]
   1. To lay the basis of; to set, or place, as on something
      solid, for support; to ground; to establish upon a basis,
      literal or figurative; to fix firmly.
      [1913 Webster]

            I had else been perfect,
            Whole as the marble, founded as the rock. --Shak.
      [1913 Webster]

            A man that all his time
            Hath founded his good fortunes on your love. --Shak.
      [1913 Webster]

            It fell not, for it was founded on a rock. --Matt.
                                                  vii. 25.
      [1913 Webster]

   2. To take the ffirst steps or measures in erecting or
      building up; to furnish the materials for beginning; to
      begin to raise; to originate; as, to found a college; to
      found a family.
      [1913 Webster]

            There they shall found
            Their government, and their great senate choose.
                                                  --Milton.

   Syn: To base; ground; institute; establish; fix. See
        Predicate.
        [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Founding \Found"ing\, n.
   The art of smelting and casting metals.
   [1913 Webster]

WordNet (r) 3.0 (2006):

founding
    n 1: the act of starting something for the first time;
         introducing something new; "she looked forward to her
         initiation as an adult"; "the foundation of a new
         scientific society" [syn: initiation, founding,
         foundation, institution, origination, creation,
         innovation, introduction, instauration]