Posted by donAdeo on 2011-03-05
TheFunded and the Founder Institute want to change the gender divide among startup founders. Today, most figures say that less than 7% of technology companies are founded by females, and some studies show the figure to be closer to 2%. Less than 10% of professional investors are female, and only about 11% of U.S. firms with venture-capital backing in 2009 had current or former female CEOs or founders (Dow Jones VentureSource).
It's time to balance the startup gender divide. 16% of the 290 companies launched by the Founder Institute have female Founders, and over 30% of the founders in the newest Los Angeles and San Francisco chapters are female. Great female founders will create opportunities for more female investors, more female team members, and greater female participation in the fast growing world of high-technology startups.
Again, less than 7% of technology startups are led by women. We are not going to sit on the sidelines. Our goal is to change this. Here are our plans.
Founder Institute Announces the Female Founder Fellowship
More female applicants to the Founder Institute means that more female-led companies will graduate. The Institute is currently on pace to graduate over 600 companies in 2011 across our 17 locations. If we double our percentage of female founders to 30%, we will graduate 175 female tech founders in 2011. We have 35% female participation in San Francisco after announcing this program, and over 20% in Los Angeles.
In order to encourage more female applicants to the Institute, the Institute has announced the Female Founder Fellowship program, which will provide extraordinary female applicants the opportunity to launch their dream company with the Founder Institute's pre-seed incubation program, free of charge. The Institute will subsidize the Course Fee for the most extraordinary female applicant in each of our ten Spring Semesters, and any female who applies is automatically eligible.
Applications for San Diego, Berlin, Brussels, Paris are due this Sunday, March 6th at at http://founderinstitute.com/join/tf. Applications for Washington D.C., New York City, Boston, and Singapore are also being accepted. If you know a female who is interested in starting a technology company, or if you'd like to spread the word across social media, please use the link below;
Our partner Women 2.0 also covered this program at the link below. Women 2.0's mission is to increase the number of female founders in technology startups.
This is not about providing special treatment - the majority of applicants to the Founder Institute do not get accepted, and this will always be the case because we employ a quantitative Predictive Admissions Test in our application process. The Female Founder Fellowship is simply designed to double the number of female applicants to the Founder Institute, which should more than double the number of female graduates - getting us to our goal of 175.
Thank you for your support. Let's make some change, and mark this as the turning point.
- The Founding MemberPRIVATE: Members Only