Deadline: 16-Aug-20
The We in Social Tech growth accelerator programme has been created to support 85 ambitious women-led social tech businesses over two years.
We in Social Tech is an innovative accelerator programme, set-up to support ambitious women-led social technology businesses.
The accelerator is delivered by Nwes, one of the largest not-for-private-profit enterprise agency in the UK, in collaboration with founding partner Deutsche Bank, through its social enterprise programme Made for Good.
Aims
Nwes and Deutsche Bank share the following aims to support female founders through We in Social Tech:
- To accelerate women-led UK tech businesses with a social purpose to make a step-change in their enterprise throughout 2019-20.
- To offer four six-month support programmes over two-years, including business growth plans, investment and finance readiness and peer learning groups.
- To provide an estimated 720-hours of both tech-industry and Deutsche Bank employee mentoring.
- To create a thriving professional network of tech experts, and provide pathways to develop business relationships.
Why We In Social Tech?
- Women entrepreneurs (We) in the technology sector face greater challenges and obstacles to success than men. Research shows that women are sorely underrepresented with less than 7% of tech jobs in Europe filled by women. There is a lack of role models, gross pay inequality, as well as challenges in raising finance. In wider entrepreneurship terms, women are still in the minority despite having the potential to make a huge impact. Through providing structured and bespoke support to female-led businesses they can work together to remove these barriers.
- Technology and innovative business models have the potential to solve some of the world’s most pressing environmental and societal problems. However, Social Tech, also known as Tech for Good, holds some unique challenges for entrepreneurs. They struggle to build sustainable business models that delivers user, social and financial value at scale, and it can be a challenge for social enterprises to position themselves as viable investment opportunities to investors.
Submission Requirements
- A 1-minute pitch video OR voice recording OR an image/infographic about your business and its vision (please do not attach your full pitch deck or business plan)
- A fully completed application form
- All applications will be scored against the following criteria:
- ambition and determination of the founder(s) – 25%
- clarity of social purpose – 25%
- understanding of the market (positioning, competitors, customers/users) – 25%
- potential for growth – 25%
Eligibility Criteria
- We in Social Tech is open to ambitious women-led social tech businesses registered in the UK. Social tech is defined as a business that applies technology to address social challenges.
- Whether you’re starting out or are already established, the most important thing is that you’re passionate about making a positive impact with your business.
- They invite founders who meet the following criteria to apply to the programme:
- Essential
- Your business:
- is a technology business which is female-led. Female-led is defined as a company, business or social enterprise in which at least 50% of the owners, partners or directors are female.
- has a clear social aim or purpose, and is using technology to address social challenges
- is UK registered. If not yet registered, the founder(s) must be UK residents.
- You, the founder(s):
- have ambition to grow the business, increase turnover and develop a successful team.
- are working full time in the business, or have an intention to be full time within a year.
- must have a specific challenge to overcome, a milestone or goal to reach during the length of the programme.
- are willing to actively share your own knowledge and skills with other participants, and contribute to building a vibrant peer-network
- are willing to provide monthly information about your progress to help us monitor and improve the programme
- are willing to actively promote We in Social Tech, and act in the spirit of the programme to support and drive positive change for all female entrepreneurs operating in the sector.
- are able to start the accelerator programme on Wednesday 7 October 2020, and are prepared to engage with the programme for six months – this includes attending weekly Business Growth Programme events
- Your business:
- Desirable:
- Your business has a minimum viable product and early traction
For more information, visit https://www.weinsocialtech.co.uk/
