WeXchange opens its competition for STEM entrepreneurs with the opportunity to access investments.
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- The contest for female STEM entrepreneurs will reward the most innovative and dynamic STEM entrepreneurs in the region with potential access to finance.
- The application deadline is August 23.
STEM disciplines (science, technology, engineering, and math) are particularly important for innovation and technological development as they are vital to economic growth and social progress.
However, did you know that according to UNESCO, currently only 28% of the people doing scientific research worldwide are women?
Last year, the IDB conducted a study of women entrepreneurs in STEM areas in Latin America and the Caribbean and found 405 companies run by women STEM entrepreneurs in 25 countries. Only 11% were in Mexico.
To promote STEM entrepreneurs and give them access to investment opportunities, IDB Lab, the Inter-American Development Bank (IDB) innovation laboratory, opened its call for the eighth edition of WeXchange. This is a forum to connect STEM entrepreneurs from Latin America and the Caribbean with mentors and investors.
The event takes place this year from November 10th to 12th. During the event, participants will have the opportunity to network, participate in mentoring sessions, training, inspirational talks and access to potential investors.
Women’s STEMpreneurs competition
The WeXchange 2020 Edition is possible thanks to the support of the funding initiative for women entrepreneurs (We-Fi). This time it will be an extended version of the Pitch competitiontitled Women STEMpreneurs competition, This will reward the most innovative and dynamic STEM entrepreneurs in the region with potential access to finance.
The aim is to identify and recognize companies that have at least one woman on the founding team, who has a strong component of technology and innovation and has the potential to achieve magnitude and social and / or environmental impact in Latin America and the Caribbean.
This year’s competition has two categories:
- Seeds. Startups that have at least a minimum viable product (MVP) and have achieved initial market access.
- Pre-series A, series A / B. Startups that have validated theirs Product market fit and they are positioned to scale the company regionally or globally.
Six finalists from the seed category and six finalists from the Series A / B category will be selected, who will appear in front of a jury of international investors during the WeXchange Forum.
IDB Lab will select one finalist from the Series A / B category to receive funding of up to $ 1M (in equity investments, SAFE, convertible, or debt) while two finalists from the seed capital category will be selected to access a Fast lane in selecting 500 LatAm startups for their potential participation in the acceleration and seed capital investment program.
The finalists in both categories will also receive premium access to venture capital funds from the region such as ALLVP, Carao Ventures, Cometa, Dila Capital, Magma Partners, Maya Capital, NXTP Ventures and Vulcano to allow for possible investment due diligence.
Women’s STEMpreneurs competition It is organized by the Angel Ventures venture capital fund. You can apply here shortcut until August 23.