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Discover Ludwig"is founded" is a correct and usable phrase in written English, typically used when describing a certain institution or company.
Example: "The company is founded on the principles of integrity and commitment to customer service."
Dictionary
is founded
verb
Past of find
Exact(60)
I.B.M. is founded.
One is founded on genetics.
Newcastle is founded on innovation and engineering.
Indeed, the subject is founded on them.
Ultimately all life is founded on uncertainty.
But part of the foreboding is founded.
To be fair, much of the paranoia is founded.
"Our company is founded in print," he said.
But the judgment, if harsh, is founded on evidence.
He forgets, this country is founded on money.
The surprises only get more interesting once Israel is founded.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com