We know the statistics well. Female-founded startups received only 2.2% of venture capital funding in 2017. Not only is there a lack of funding, but also a lack of resources, trainings, and connection points for female founders to turn their business idea into reality. Yet, women-run companies are returning 78 cents per dollar compared to 31 cents for their male counterparts. Investing in women-led businesses yields results, especially when you support female leaders who are building businesses within strong communities.
This is the very reason we’re excited to work with Microsoft for Startups, an initiative that is committing $500 million to help startups access the resources they need to grow and scale their businesses, an area of support that is particularly critical for female founders today. As an extension of their program outreach, we are collaborating with Microsoft to bring their industry knowledge about startups, venture capital funding, and technology to The Riveter’s members, giving female founders the tools they need to build businesses and drive economic power.
From guidance by Microsoft leaders to technology support, the work will bring more resources to women entrepreneurs—first in Seattle, WA, then in Los Angeles, CA—in the following ways.
- Executive Speaker Series: Once a quarter, The Riveter and Microsoft for Startups will organize a speaker series open to the community to provide insights from top-level Microsoft executives. The first event is slated for July 30 with Chad Fowler, General Manager of Developer Advocacy at Microsoft, and former CTO of Wunderlist. He’ll discuss the adventures of being a CTO in a startup, growing successful technology companies, and more.
- Dedicated Office Hours: The Riveter members will be able to receive one-on-one guidance on securing venture capital funding, business acumen, and technology issues.
- Startup Experts in LA: Microsoft experts will lend their expertise and support in L.A. with guest lectures and one-on-one office hours.
- Technology Products: Eligible startup members of the Riveter will have the opportunity to receive a Microsoft for Startups offer, including free Azure credits to build their solution and innovate on the Microsoft cloud.
The Riveter members will see these offerings roll out in the coming weeks in both cities. We’re excited to be a part of this partnership and bring added expertise to our community and members as they make powerful things happen.