Deadline: 13-Nov-23
Applications are now open for the IFC ScaleX Accelerators Program to reduce the gender gap in equity finance between male and women-led startups by providing financial incentives that will encourage accelerators to increase their focus on actively helping women-led startups to fundraise capital post their accelerator programs.
IFC ScaleX defines a “woman-led startup” as an early-stage company with a woman founder, co-founder, or woman in C-level leadership position. (C-level leadership position refers to executive-level positions within a company.)
The objective of the IFC ScaleX program is to incentivize accelerators to actively pursue efforts that help women-led early-stage startups gain access to Private Equity and Venture Capital investment opportunities. IFC intends for the awards to be utilized by accelerators to further increase female founders’ access to capital funds – and to decrease the gender gap and investment bias.
An accelerator is a business program that supports early-stage growth-driven companies through financing, education, mentorship, office space and supply chain resources. Accelerators enroll startups for a fixed period of time and as part of a cohort of companies. Their goal is to help startup companies scale by helping them define and build their initial products, identify promising customer segments, and secure resources, including capital and employees.
Award Information
Award amounts will vary from $5,000 USD to $25,000 USD per qualifying accelerator.
Eligibility Criteria
- Eligible organizations in the IFC ScaleX program must be accelerators that support startups operating in at least one of the IFC member countries.
- Award eligibility is determined on a case-by-case basis after an accelerator submits the additional information at IFC’s request.
- Qualifying accelerators must adequately demonstrate support granted to women-led start-up(s) to fundraise.
For more information, visit https://www.ifc.org/wps/wcm/connect/Topics_Ext_Content/IFC_External_Corporate_Site/Venture+Capital/Special+initiatives/Gender/ScaleX
