Women Who Tech, which is on a mission to showcase and fund women-led startups, announced it will host the second Women Startup Challenge in New York City on November 9th at Microsoft in Times Square.
Women Startup Challenge NYC, in partnership with Craig Newmark of craigslist and craigconnects, will showcase 10 of the best women-led startups in the Northeast region. Investors Joanne Wilson and Susan Lyne, of AOL’s BBG Ventures will select the grand prize winner, who will be awarded at least $25,000 in cash for their winning venture. Other prizes include consultations with investors and startup services. Applications to compete in the Women Startup Challenge NYC open today and runs until September 30th.
On November 10th finalists will join investors for the first-ever Women Startup Speed Dating at AOL. The event is designed to give women founders one-on-one access to investors and experts to help them hone their startup pitches and ideas.
Founder of Women Who Tech, Allyson Kapin, stated:
“The Women Startup Challenge showcases and funds innovative, women-led startups and disruptive ventures that are solving problems for people, businesses, and the planet. Right now 94 percent of investor money goes to startups founded by mostly white men. If we truly want to innovate and create the best products for people in this world, we need to radically change how we invest.”
Women Who Tech held the first-ever Women Startup Challenge Pitch Competition on June 30 in Washington, D.C. The crowdfunding campaign raised $315,000 for 88 women-led startups. An additional $50,000 was awarded to the grand prize winner, On Second Thought. Additional funding and advisory support went to other Challenge finalists.
Women Who Tech is one of the few organizations disrupting a culture and economy that has made it exceedingly difficult for women entrepreneurs to access capital. Newmark added:
“Only seven percent of all investor money goes to women-led startups. Yet, studies show that women-led ventures deliver a 35 percent higher return on investment and generate 12 percent more revenue than male-run startups.”
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