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Are you looking for a scholarship? 5 options for female entrepreneurs

In order to combat the wide gender gap in the business world, several institutions have sought to support women with funds and training

Are you looking for a scholarship? 5 options for female entrepreneurs

Every day there are more cases of young entrepreneurs who need fresh capital to develop their ideas in products and services. In addition, since recent years, there has been a significant increase in women in this world of entrepreneurship.

Leer en español: ¿Estás buscando una beca? 5 opciones para mujeres emprendedoras

However, due to the difficulties presented by banks and investors to entrepreneurs in general, specifically women, other paths have been developed to offer more opportunities to these people.

For women, finding funding for their startups, or simply to expand their businesses, has been one of the most difficult obstacles to overcome. Accessing bank loans and finding investors has not been so easy since the vast majority of applications have been rejected.

According to an Inc report, women entrepreneurs start twice as many companies as men but receive dramatically less than men. Men receive around $ 9.45 billion, while women receive $ 1.57 billion. In addition, the percentage of women generating high-risk capital has been reduced from 10% to 6% in recent years.

Read also: The banking digitization affects female entrepreneurs

Thus, among the alternatives that women have been forced to attend are scholarships and institutions that offer financial support to those that participate and demonstrate potential in their idea. Several organizations have seen the great potential of women in this world, since, according to Hiscox, companies led by women have been responsible for generating $ 1.6 trillion in income and employing around 9 million people.

According to the IDB, in Latin America and the Caribbean, only 22% of SMEs (small and medium enterprises) are owned by women. In addition to this, the vast majority of these companies fail to grow further.

So, here are several scholarships and financial support from different institutions to promote women's entrepreneurship. Many of them are located in the United States, although people of different nationalities can participate.

1. Eileen Fisher Women-Owned Business Grant
This support is designed specifically for companies that have already gone through the startup phase since it focuses on women who want to expand their businesses.

In order to apply, the company must be owned by a woman, have been in operation for at least three years and not generate more than one million dollars of earnings per year. In addition, companies that promote social and environmental change also consider a requirement. The financial assistance goes up to a total of USD $ 100,000.

2. Amber Grants
This support is ideal for women entrepreneurs who want to start a small business and locally. Each month, Amber Grants awards $ 500 to a selected company and, at the end of the year, the winner of each month is selected to receive $ 2000 support. To participate, you must only explain the purpose of your idea.

It is important to clarify that the companies benefited by this program must be located in the United States or Canada.

3. Open Meadows Foundation Grant
This foundation offers financial support to women every semester. In order to participate in
this program, the company must promote gender, race and economic equity in some way, since it seeks to reflect the diversity of the community through the project and the leadership of the organization. In addition, the operating budget of the business to participate cannot exceed $ 75 thousand dollars. The foundation grants up to $ 2000.

4. AAUW
This is an international organization in the United States that offers scholarships to women entrepreneurs, and students, from Latin America, as well as other nationalities. Women entrepreneurs who are doing significant work in the community can be nominated. Another requirement involves promoting the well-being of women and children. The value of the prize varies between $ 5 thousand and $ 7 thousand dollars.

5. ConnectAmericas
Finally, the Inter-American Development Bank launched an initiative to reduce the inequality gap between men and women in 2016. Despite not offering money as such, it does offer a free business services portal together with Google and other partners, especially for women.

This is not only an extensive network of business and commercial opportunities, but also includes online training and business support resources to strengthen and grow the companies led by women in the region.

 

LatinAmerican Post | Valentina Moya

Translated from "Conozca estas becas e iniciativas para mujeres emprendedoras"

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