The Call for Applications for the Women STEMpreneurs Competition 2020 is now open – a competition to reward the most innovative and dynamic women entrepreneurs in STEM (science, technology, engineering, and mathematics) in Latin America and the Caribbean, with potential access to financing.
This competition is part of the 8th edition of WeXchange, the largest platform in Latin America and the Caribbean that connects and strengthens women STEMpreneurs — founded by IDB Lab, the IDB Group’s innovation laboratory (IDB Lab is the Multilateral Investment Fund, managed by the Inter-American Development Bank). The partner in charge of organizing the competition is Angel Ventures, a regional venture capital fund focused on early-stage and early-growth companies.
If you are woman founder or co-founder of a startup in the process of raising capital (seed, Pre Series A, Series A/B), come to apply! You may be one of the 12 lucky finalists who will get to pitch before a jury of international investors during the WeXchange 2020 forum, held virtually between November 10-12, 2020.
The competition will be selecting 6 finalists in the Seed category and 6 finalists in the Pre-Series A, Series A/B category, according to the criteria indicated below.
- Financing of the IDB Lab. IDB Lab would select a startup among the finalists in the Pre-Series A, Series A/B category for potential financing of up to USD 1 million (in equity investment, SAFE, convertible note, or debt financing).
- Fast-track for acceleration and seed capital of 500 LatAm Startups. 500 Startups LatAm would select up to two startups among the finalists in the seed category, who will get access to a fast track selection process for the first batch of 2021, which can lead to potential participation in its pre-seed capital acceleration and investment program.
- Premium access to partner venture capital funds. The finalists of both categories will have premium access to partners of the following venture capital funds in the region for consideration of potential investment due diligence, depending on each startup’s alignment with each fund’s investment thesis.
- Seed: startups that: (i) have at least one minimum viable product (MVP), have achieved initial traction in the market, and are seeking smart seed capital to validate their product-market fit and accelerate growth, (ii) have received less than USD1 million dollars of total outside financing, and (iii) have been created in the last 4 years.
- Pre-Series A, Series A / B: startups that (i) have validated their product-market fit, (ii) are positioned to scale regionally or globally, and (iii) are in the process of raising a Pre-Series A, Series A or B round of financing.
- Startups with at least one woman in the founding team. The woman founder will present and apply for the respective startup.
- Startups with a high technological component, or startups in which Science, Technology, Engineering and Mathematics (STEM) consist of a key piece of their business in sectors such as fintech, edtech, agtech, health tech, biotech, e-commerce, transportation/mobility, logistics, digital security, cleantech, tourism, SaaS for SMEs, among others.
- Startups with headquarters and operations in at least one country in Latin America and/or the Caribbean.
- Startups with highly scalable business models with a plan/potential to scale at a regional and/or global level; startups with high potential for social and/or environmental impact.
- Founding team, previous experience, and team capacity.
- Differentiator and/or any disruptive element of the proposed solution.
- Market size and growth potential.
- Scale potential.
- Potential for social and/or environmental impact.
- Performance and traction to date.
For more information, visit http://wexchange.co/en/wexchange-2020/