The EU has announced an exclusive and all-new Women TechEU. Now what is Women TechEU?
It is a brand new EU initiative that supports the creation of deep-rooted women-led technology start-ups and helps them scale into future deep tech leaders.
Approved By European Innovation Council
The program falls under the new Horizon Europe innovation program, approved by the European Innovation Council (EICs).
According to statistics, only 15% of new startups that are disruptive or innovative are formed or co-created by women, while only 6% have founding partners as all women.
These women-led tech startups attract lesser funding from PE and VC if compared to their male counterparts.
This is including the most crucial early-stage funding which always tends to be lower.
Why This Initiative?
Maria Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth said:
“Through Women TechEU, we want to increase the number of women-led start-ups and create a fairer and more prosperous European deep-tech ecosystem.”. (Courtesy: eic.eu.europa.eu)
Women TechEU will help to narrow down this gender gap by supporting early technological startups led by women.
The program will provide financial support of up to € 75 000 to women-initiated tech startups as well as first hand training through EIC’s Women Leadership Program.
EIC Accelerator Vs Women TechEU
The EIC Accelerator program is also a similar initiative that is currently operating but it focuses on any sort of women-led startup.
On the other hand, the new Women TechEU program provides first-class support and funding at the most crucial formative years of the company, ie early stage.
Women TechEU is part of a series of initiatives to empower women business founders.
Earlier this month, the European Commission announced that it had received a record number of entries for the EU Prize for Women Innovators. This clearly indicates the need for such programs to celebrate and support women entrepreneurs and startup leaders.
