LatamList – The IDB Lab, the innovation arm of the IDB, recently opened the registration for the Women STEMpreneurs Competition 2020, which rewards the most innovative and dynamic women entrepreneurs in the STEM fields (Science, Technology, Engineering, and Mathematics) in Latin America and the Caribbean with potential access to financing.
Many studies, such as the wX Insights 2020, demonstrate a positive correlation between gender diversity and the level of growth in a company. About 54% of the women entrepreneurs that participated in the study raised venture capital or received angel investment, and almost 80% had plans to expand globally in the next five years. These statistics indicate that women entrepreneurs are as ambitious as men concerning the growth of their business.
This competition is part of the eighth edition of the WeXchange forum which connects women STEMpreneurs with mentors and investors and is organized in collaboration with Angel Ventures, an early-stage venture capital firm. The forum is also supported by We-Fi (Women Entrepreneurs Finance Initiative).
During the competition, participants will have the opportunity to network and participate in mentorships, workshops, and inspirational talks, as well as have access to potential investors.
The goal of the competition is to identify and elevate startups that have at least one woman in the founding team, with a strong component of technology and innovation, and the potential to scale and create a social or environmental impact in Latin America and the Caribbean.
Depending on the category (Seed stage, Pre-Series A, Series A/B), finalists have the chance to win up to $1M or fast-track their application process for 500 Startups Latam. They will also have access to venture capital funds like ALLVP, Carao Ventures, Cometa, Dila Capital, Magma Partners, Maya Capital, NXTP Ventures, and Vulcano for consideration of potential due diligence for investment.
Due to the social restrictions brought on by the pandemic, the competition, like most events, will take place online on the 10th, 11th, and 12th of November, and participants have until August 23rd to apply.
Read more on WeXchange.