Starting your own business is both challenging and rewarding, but those challenges can be made harder if you happen to be a female founder. While the UK has made strides in promoting female entrepreneurship, women still face unique challenges compared to their male counterparts.
Female founders receive significantly less venture capital funding than men. In 2022, only 1% of VC funding in the UK went to all-female founding teams. This lack of access to capital can hinder growth and limit the potential of female-led businesses. There is also research which shows that unconscious bias can play a factor with investors more likely to fund businesses with male founders versus female founders.
Access to good quality networks can also be an issue for female founders, with women often underrepresented in professional networks and mentorship programs. This makes it harder for them to connect with potential investors, advisors, and other key players in the startup ecosystem.
To help address these issues, Founded by Her is a KPMG funded programme specifically for female founders preparing for Series A in 6-12 months which will be running for the second time, after receiving such positive feedback from its first cohort. This 4-month programme is open to women co-founders or female leaders of high potential businesses, to provide the knowledge and networks to successfully prepare for and navigate the funding market.
The programme will take 10-15 founders through a series of practical modules centred around a Series A raise, delivered by KPMG Acceleris with the support of VCs, other women founders, and KPMG experts across Tax, Legal and Corporate Finance.
Aside from requiring a female founder or privately owned business leader, key eligibly criteria include: UK businesses looking to launch a raise of over £2m in next 6-12 months; with forecast revenues of c. £1m ARR (or monthly equivalent) at time of raise or over £4m non-recurring revenue.
As the North West continues to build an exciting and growing startup ecosystem, they’re eager to welcome female founders from Leeds to join the programme so that they can continue to support entrepreneurs across the region in the vital contribution they make to our local economy. The closing date for applications is Wednesday 31st July 2024.
For further information and to apply visit their website.