TLDR:
- The Agora Initiative is offering a $10,000 venture competition for women founders in the DMV region to address the gender funding gap in tech entrepreneurship.
- About 2% of venture capital goes to female founders, highlighting the need for more support and investment in women-led businesses.
Article Summary:
The Agora Initiative has launched a $10,000 venture competition specifically aimed at supporting women founders in the DMV region. The initiative is a response to the wide gender funding gap in the tech industry, where only about 2% of venture capital goes to female founders. Despite studies showing that female founders generate higher returns on investment and outperform their male counterparts, the percentage of venture capital going to women-led businesses has been decreasing in recent years. The competition is supported by various partners in the region, including law firms, investment management firms, and accounting and finance firms, who are providing mentorship, pro bono services, and visibility to participants.
The founders believe that by providing support and investment opportunities to female entrepreneurs, they can help move the needle and address the funding gap in the industry. The initiative aims to not only offer financial support but also to connect participants with mentors and other resources to help them scale their businesses. Applications for the competition close on March 27, with finalists pitching live on May 8. The organization’s long-term vision is to continue supporting local female founders and provide avenues for others to get involved in supporting women-led businesses in the region.
