Academy for Women Entrepreneurs (AWE) Program

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Three-month innovation accelerator providing online training, workshops, mentorship, and networking to support women entrepreneurs in developing business ideas and establishing companies.
What are the main aims and objectives?

The Academy for Women Entrepreneurs (AWE) pursues foundational objective of increasing female representation within entrepreneurial and innovation sectors, recognizing gender imbalance in enterprise start-ups and addressing structural barriers experienced by women entrepreneurs. The program aims to support women in developing business ideas, providing education and know-how while strengthening social networking among female entrepreneurs. The initiative targets support for women entrepreneurs at foundational stages, enabling them to form business ideas, implement ventures, and establish companies through structured entrepreneurship training and mentorship. 

The program explicitly aims to "harness the innovative powers of women" by creating ecosystem support enabling women to participate fully in entrepreneurial economy and contribute to national innovation and economic growth. By strengthening women entrepreneurs' networks and capabilities, the program creates multiplier effects supporting broader women's economic empowerment beyond individual participant benefit. AWE operates as component of the U.S. Department of State's Women's Global Development and Prosperity Initiative, representing international commitment to gender-responsive entrepreneurship support.

How does the program work?

The Academy for Women Entrepreneurs operates through integrated multi-stage support system combining physical infrastructure, specialized programs, financial instruments, and advisory services.​

Online Training Component: The program incorporates the DreamBuilder online training program developed by Arizona State University's Thunderbird School of Global Management. DreamBuilder comprises 13 self-paced lectures covering approximately 25 hours of content addressing fundamental entrepreneurship domains including business fundamentals, financial management, market analysis, and strategic planning. Participants access lectures at times convenient to their schedules, enabling flexible engagement alongside existing business or personal responsibilities.​

In-Person Workshops: Participating institutions organize practical workshops adapted to local business context, providing hands-on guidance on topics including: starting companies, marketing strategies, social media, networking techniques, funding and grant applications, intellectual property protection, and other practical matters relevant to business launch and development. Workshops are available both in-person and streamed online, enabling participation from across distributed populations.​

Mentorship and Coaching: Participants receive guidance from experienced women entrepreneurs and innovation experts serving as mentors. Mentors help participants develop business plans, refine pitch presentations, identify financing opportunities, and address specific business challenges. Program also provides expertise from university career counseling and leadership coaching services supplementing entrepreneur mentors.​

Participant Selection and Cohort Structure: The program accepts participants selected from competitive applications. For example, the Iceland 2025 cohort received 80 applications with 24 business ideas selected from 33 women applicants by evaluation committee. Participants consist of both individuals and teams. Minimum language understanding is typically required; travel grants are provided for regional participants.​

Awards and Recognition: Program completion includes recognition and financial awards for outstanding participants. Awards recognize best business plan, second place, third place, best pitch presentation, and most progress demonstrated. Award amounts vary by program location.​

Field Visits and Networking: The program includes field visits to operational women-led companies and structured networking opportunities enabling exposure to business operations and peer entrepreneur connections.​

Follow-On Support: Following program completion, many locations provide continued access to mentor networks and investor connections supporting post-program venture development.

What is the overall cost?

No information available. 

How was it implemented?

International Initiative Launch (2019): The Academy for Women Entrepreneurs originated as U.S. Department of State initiative launched in 2019 through the Bureau of Educational and Cultural Affairs (ECA), supporting implementation of the White House Women's Global Development and Prosperity Initiative. The program established foundational structure, curriculum framework, and implementation guidelines enabling deployment across diverse country contexts while allowing local adaptation.​

Institutional Partnership Development (2023): The University of Iceland and American Embassy in Iceland identified entrepreneurship support as strategic cooperation opportunity and jointly designed Icelandic implementation. The partnership reflected recognition that women entrepreneurs in Iceland faced barriers including limited awareness of entrepreneurship as viable career pathway, insufficient access to business mentoring and networks, and limited support mechanisms for early-stage venture development.​

Program Design and Adaptation (2023): The University of Iceland and American Embassy collaborated with Association of Business Women in Iceland (FKA) and Women of Multicultural Ethnicity network to design Iceland-specific program incorporating: DreamBuilder curriculum adapted to Icelandic business context, local workshop content addressing Icelandic regulatory environment and business practice, identification of Icelandic women entrepreneurs as mentors, and integration with existing women entrepreneurship support organizations.​

First Cohort Launch (2024): AWE Iceland launched its inaugural cohort in early 2024, providing proof-of-concept and operational learning. The first cohort attracted approximately 25 women participants, validating program demand and enabling service model refinement based on participant feedback and outcomes.​

Formal Partnership Framework (2024-2025): Partnership agreements formalized collaboration between University of Iceland, American Embassy in Iceland, Association of Business Women in Iceland (FKA), and Women of Multicultural Ethnicity network. The American Embassy secured U.S. Department of State funding (USD 37,380 grant in August 2024) to support continued implementation through 2025. The University of Iceland became primary implementing institution with responsibility for program management, participant recruitment, workshop facilitation, and mentor coordination.​

Program Scaling (2025): Based on 2024 experience, the program was adapted and scaled for 2025 cohort. In January 2025, the program launched its fourth cohort cycle (January 23 - April 30, 2025) with expanded geographic outreach and additional field visit components. Approximately 80 applications were received for 2025 cohort with 24 business ideas selected from 33 women applicants, indicating sustained and growing demand.

What impact has been measured?

Initial 2024 cohort enrolled approximately 25 women participants with 2025 expansion attracting 80 applications for 24 available positions, indicating growing awareness and continued interest.

What lessons can be learned?
  • International Curriculum Adaptability Enables Local Relevance: AWE demonstrates that internationally-developed curriculum (Arizona State University's DreamBuilder) can effectively combine with local adaptation (workshops addressing local regulatory environment, business culture, financing mechanisms) to create culturally relevant entrepreneurship support. The hybrid model respects international best practices while addressing context-specific entrepreneur needs.​
  • Public-Private Partnership Model Distributes Implementation Burden: Collaboration between implementing institutions (universities), government partners (embassies, ministries), business organizations, and community networks creates multifaceted support ecosystem. This partnership approach distributes implementation responsibilities while leveraging each partner's comparative advantages.​
  • Free Participation Removes Financial Access Barriers: The program's completely free participation structure (no registration fees, travel grants for regional participants) significantly reduces barriers to engagement, enabling economically-constrained women entrepreneurs to access otherwise-inaccessible support services. This universal access approach contrasts with commercial accelerators requiring substantial founder capital or equity commitments.​
  • Targeted Inclusion Requirements Strengthen Reach: Specific focus on women entrepreneurs and diverse backgrounds ensures program addresses structural inequality dimensions beyond generic entrepreneurship support. These targeted inclusion criteria demonstrate intentional design supporting underrepresented entrepreneur populations.​
  • Mentorship Quality Dependent on Available Expertise: Program effectiveness significantly depends on quality and availability of experienced mentors. While participating programs secured commitment from recognized entrepreneurs, potential constraints exist regarding mentor availability for expanded cohorts or emerging specialized sectors. Scaling may require formal mentor recruitment and development infrastructure.​
  • Limited Published Outcome Data Prevents Evidence-Based Refinement: While program documentation describes structure and process metrics (participant numbers, awards), comprehensive longitudinal tracking of graduate venture outcomes (survival rates, employment generation, revenue performance, business formalization) remains unpublished. Without rigorous impact evaluation against business formation baselines or comparable non-participant populations, evidence-based program improvement decisions face evidence gaps.​
  • Small Cohort Scale Limits Aggregate Economic Impact: Annual cohorts of 20-25 participants per location, while meaningful for individual participants, represent modest scale relative to total economy. While annual participant numbers may grow with program expansion, cumulative program impact on national women entrepreneurship metrics remains marginal unless scaling substantially expands.​
  • Regional Accessibility Constraints May Limit Geographic Equity: While programs attempt geographic inclusion through online streaming and travel grants for regional participants, primary in-person components concentrate in major urban centers. Rural and peripheral entrepreneurs may face accessibility barriers despite digital options, potentially creating urban-centered program benefits.​
  • Integration with Broader Support Ecosystem Requires Clarification: While programs reference partnership with business organizations and women's networks, systematic integration with government SME support programs, microfinance mechanisms, and private sector accelerators remains undocumented. Ecosystem alignment could amplify outcomes if graduates receive subsequent institutional support during post-program venture development.

CURATED BY

Tom Hancock

Research Associate
Global Entrepreneurship Network
United Kingdom