Setting the stage for female-led startups

2 Jul 2020

Female-led startups are an overlooked asset class which is overperforming according to Crunchbase 2019. Female founders create 152% more revenue per dollar of capital invested on their male counterparts despite receiving 50% less venture capital funding. In addition, they have fewer business-oriented networks to support them.

Photo by Anna Shvets© from Pexels

Considering this, the Small Enterprise Development Agency (SEDA) has collaborated with the SA Innovation Summit (SAIS), to empower female entrepreneurs with the skills and network to grow their businesses and increase their exposure to receive investment funding.

The Fem-In-Tech Development Programme is open to South African startups in tech and tech-enabled sectors that have female representation as founders or top management. Fem-In-Tech aims to grow female entrepreneurship in South Africa and bridge the gap for women entrepreneurs in the investment market. Participants will undergo online training culminating in a Demo Day at the Virtual Edition of the SA Innovation Summit set to take place from 30 September - 1 October 2020.

STP Executive Manager, Nosipho Khonkwane, says: “There is a compelling need to grow the rate of female entrepreneurship in South Africa, particularly in the tech and tech-enabled sectors. This programme seeks to be that bridge to accessing much-needed capital investment and business networks”

The Top 20 startups, those with high growth potential, will be matched to potential investors from around the world. In addition, Anza Capital will take a select few on an Investor Tour with US and Europe investors and stand a chance to receive funding of R2–R5 million to grow and scale their business.

Fem-In-Tech aims to capacitate women entrepreneurs and create a community of female founders to support each other on their journeys and share their experiences. Through this programme, opportunities will be created with potential investors and business supporters. The Demo Day will enable these founders to showcase their start-ups at the SA Innovation Summit, which aims to promote and develop the entrepreneurial creativity of start-ups who are disrupting traditional ways of doing business.

Chairperson of the SA Innovation Summit, Dr Audrey Verhaeghe, says: “We need to look at the performance stats in early-stage businesses to see that this asset class, female founders, needs much more attention. That it what we are doing with this programme.”

SEDA and SAIS are encouraging women entrepreneurs to take advantage of this opportunity to upskill, access financial and business support to grow and scale, gain market and media exposure, and network with potential enablers and sponsors. It is a chance to scale up the female founders.

The Fem-In-Tech is now open for entries and closes 10 July 2020.

For more, go to https://innovationsummit.co.za/fem-in-tech/