Folks, this is a big deal: applications for the 3rd Women Startup Challenge are now open. You have until March 31 at 11:59pm PT to complete your application for the chance to win up to $50,000, among other startup-friendly prizes.
You may have already heard, but only 7% of all investor money goes to startups led by women. The thing is, it’s not just the right thing to do because fair is fair, but it makes business sense. According to studies by the Kauffman Foundation, tech companies led by women are more capital-efficient, achieving 35 percent higher return on investment, and, when venture-backed, bring in 12 percent higher revenue.
The Women Startup Challenge, hosted by Women Who Tech, is a national effort to promote and help fund game-changing women-led startups focused on solving problems for people, businesses, and the planet.
Allyson Kapin, the Founder of Women Who Tech, is the real deal. She says, pretty accurately:
If we’re going to solve the toughest problems facing our communities nationally and globally, we must foster and invest in a culture of innovation from diverse perspectives. This means helping to fund startups led by diverse founders.
I’m partnering with Women Who Tech and the Women Startup Challenge because this is something I really believe in. It’s time for us to put our money where our mouths are and actually fund startups led by women. Apply now for the chance to receive funding (up to $50K in cash) for your startup.
It’s a national Challenge, and once all applications are reviewed, the judges (comprised of investors and industry leaders) will choose the top 10 finalists to pitch their startup to a panel of investors, including Lisa Stone, entrepreneur and cofounder of BlogHer and a live audience in San Francisco this summer.