After a month of friendly crowdfunding competition, a D.C.-based gender equality organization that looks to promote the rise of women-led tech companies — Women Who Tech — raised more than $365,000 to support the first annual Women Startup Challenge.
180 women-led startups participated in the first round, where teams worked to encourage donations and interest in the Challenge. Of the 180 startups, 30 of those companies were chosen to move on to a second round which will be organized similarly to a startup pitch competition decided upon by a panel of judges — comprised of angel and VC investor.
Women Startup Challenge, launched by Women Who Tech in partnership with Craigslist Founder Craig Newmark, will award $50,000 (among other prizes) to the grand prize winner on June 30. The final round of pitch competitions will be held at General Assembly in Washington, D.C.
“The lack of funding for women-led startups is unacceptable, and we want to do our part to change it … To help get way more badass women running amazing and successful startups, Women Who Tech is launching a crowdfunding competition, to showcase and raise money for innovative women-led ventures that are committed to solving problems for people, businesses, and the planet,” the Women Startup Challenge website reads.
The first round began on April 29 and ended on Friday, May 29. In addition, “even if you don't get the opportunity to go to the pitch competition, you get to keep the money you raise during the campaign,” Women Who Tech said in a statement.
Founded in 2007, Women Who Tech works to bring together talented female entrepreneurs and to provide them with helpful tools to grow their startups.
Originally known for its Women Who Tech TeleSummits, the organization has brought together leading figures like Joanne Wilson, Arianna Huffington, WordPress usability expert Jane Wells of Automattic, Shaherose Charania of Founders Labs and Women 2.0 and Shireen Mitchell of Digital Sistas to speak about the challenges and successes they have experienced as female tech leaders.
“Women are founding innovative startups more than ever before, yet only 7% of investor money goes to women founded startups. We want to help women pitch their startups, and get their startups funded,” Women Who Tech’s website reads.
