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Women founders looking to fast-track their startup can today apply to join the Electrify Accelerator, Aotearoa’s only accelerator focused on supporting women startup founders to succeed.
An attempt to answer long-standing gender inequality issues in the startup world, Electrify Accelerator has recruited the who’s who of the New Zealand startup ecosystem into one programme. The initiative is led by Ministry of Awesome, in collaboration with NZ’s most experienced venture capital firms, startup founders, and mentor teams.
Backed by ChristchurchNZ, MBIE and NZ Growth Capital Partners, with expertise from Amazon Web Services and MYOB, founders will have every necessary tool for success at their fingertips.
“Electrify Accelerator is bringing every corner of the startup and innovation ecosystem together for the very first time, to give these women founders the best possible chance at taking their startup to the next level. Each of the partners share a vision for a more diverse, high performing sector, and Electrify Accelerator is only our first step towards achieving participation that better represents the population of our country” said Marian Johnson, Chief Awesome Officer of the Ministry of Awesome.
Of the applicants, ten startup teams will be selected to join the competitive accelerator, where they will have 12 weeks to take their startup from its early stages, to an investable and scalable company.
Globally, women only represent one in every five startup founders, despite research showing women-led startups are more capital-efficient, achieve 35% higher return on investment, and, when venture-backed, bring in 12% higher revenue than male-owned tech companies.
While the poor representation of women in startups is well documented, Johnson says efforts to bring about genuine change have, until now, been too limited.
“Yes, the quality of our STEM educational offering and lack of participation in STEM by girls and young women is an important factor for why we’re not seeing them coming through in volume to startup and innovation. However, it is important for us to look for more immediate wins. Electrify Accelerator is a chance to build community, mentorship, and a clearer path toward success for Aotearoa’s wahine founders. Being a startup founder is hard. Doing it in isolation is impossible,” said Johnson.
Rob Everett, CEO of NZ Growth Capital Partners, says the initiative is critical for the sector and the broad representation from across the local VC world shows how seriously the industry is about changing things up.
“We’re delighted to support the programme – it will support a more diverse pipeline of startup talent and create a better environment for women to operate in, to create thriving and cutting-edge NZ businesses and to go on to be leaders on the global stage.”
Women startup founders can apply to join the Electrify Accelerator from today until April 3 on the Electrify Accelerator website (electrifyaccelerator.co.nz.) Successful applicants will have tonce in a lifetime opportunity to work alongside our country’s most influential and successful investors, founders, and mentors.
About Electrify Accelerator.
Electrify Accelerator is New Zealand’s first ever whole ecosystem backed startup accelerator made for women founders, in partnership with Aotearoa’s leading investors, government, and startup enablers.
The competitive programme is designed to accelerate the venture building process within a tight community focused on ensuring the best possible support and guidance.
Qualifying startups can come from any sector but founders will need to be hugely ambitious and have at least one woman on their founding team. Over the course of twelve weeks, startup teams will have access to startup experts, powerful networks, personal development coaches, and domain expertise. New Zealand needs more high-growth, women-led startups — yesterday. Electrify Accelerator will be the jolt to make this happen.
Electrify Accelerator has recruited the who’s who of the New Zealand startup ecosystem into one place. The programme is led by the Ministry of Awesome, in collaboration with NZ’s most experienced venture capital firms, startup founders, and mentor teams.
Backed by ChristchurchNZ, MBIE and NZ Growth Capital Partners with expertise from Amazon Web Services and MYOB.
VC Partners play a critical part in this accelerator and this list includes: Blackbird Ventures, GD1, Hillfarrance, Pacific Channel, Punakaiki Fund, Quidnet, and K1W1.