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FEM-START
FEM-START is a program and competition, aimed at supporting female entrepreneurs secure funding. It organizes monthly events, bringing together over 80 female entrepreneurs, experts, and advisors for networking, inspiration, and elevation.
What are the main aims and objectives?
The central objective of FEM-START is to bridge the funding gap for women in entrepreneurship through education, mentoring, and networking. They have set the target of educating more than 100,000 women in fundraising. More broadly the program is built to support three key goals: promoting gender equality, fostering decent work and economic growth, and reducing inequality.
More than just financial support, Fem-Start is dedicated to fostering a sense of community and building a network of support. Through this, it seeks to increase diversity in the startup ecosystem. The emphasis on mentorship, in particular, is intended to provide personalized guidance and insights to help women navigate the various challenges of starting and running a business. The program also seeks to create an inclusive, diverse, and safe learning platform for female entrepreneurs through an artificial intelligence edtech solution.
How does the program work?
The Fem-Start program is designed to empower female entrepreneurs and reduce gender disparity in the startup ecosystem. Here's a brief outline of how the program works:
- Application and Selection: Fem-Start accepts applications from women-led startups across the Netherlands. The selection process is merit-based, considering factors such as the potential for growth, innovation, and the entrepreneur's dedication.
- Edtech Training: Once selected, the entrepreneurs undergo training through an AI edtech solution. This training module covers various aspects of running a business, such as management, strategy, marketing, and importantly, fundraising. This is aimed at equipping them with relevant skills and knowledge to navigate the business world.
- Community Support: The program provides a supportive community where participants can network with other like-minded women entrepreneurs. This is a platform to share experiences, challenges, and solutions.
- Mentorship: Fem-Start connects entrepreneurs with experienced mentors who provide guidance and support throughout the journey. These mentors help them refine their business models, strategies, and also guide them through any challenges they may encounter.
- Startup Competition: The program culminates in a startup competition where entrepreneurs pitch their business plans. The winning startup receives an investment of 100,000 euros as seed funding to kickstart their business.
- Post-Program Support: After the competition, Fem-Start continues to offer support and resources to the startups, ensuring their prolonged success.
The competition's requirements include having a team of at least two, being incorporated in the Netherlands, and being a startup less than two years old with no previous professional investor on the cap table.
What is the overall cost?
There is currently no information available about the running costs of FEM-START.
How was it implemented?
FEM-START was founded by Marian Spier, Sandra van der Pal, Simone van Bijsterveldt and Ellen Tacoma. The program was created following the success of the Female Startup award which demonstrated that the core ingredients of giving female entrepreneurs a platform, introducing them to the world of finance and funding, connecting them to the right people and boosting their own confidence would be the basis of an effective new program.
FEM-START was originally planned as an incubator program designed to empower female entrepreneurs but the program pivoted towards its current model following research that indicated education was vital in supporting female entrepreneurs globally.
What impact has been measured?
FEM-START can demonstrate the following:
- FEM-START boasts a community of over 800+ ambitious female entrepreneurs
- 9 female-led startups participated in the 2021 FEM-START up Awards
- 10 female-led startups participated in the 2022 FEM-START up Awards
It is currently not clear how many women have received education training from FEM-START. Likewise, there is no available information on the impact the program has had on bridging the funding gap for women in the Netherlands. Consequently, we cannot currently assess the impact of this program.
