The competition — launched in partnership with venture capital groups EQT Ventures and SVB Financial Group — offers female-led startups the chance to win $2 million in investment funding, as well as access to technology resources and mentoring support.
To apply, startups must have at least one female founder, have raised less than $4 million in equity funding or loans, and offer or intend to release a product or service that addresses a business problem with an enterprise technology solution.
M12, EQT Ventures and SVB Financial Group will invite up to 10 finalists to pitch their solutions in person. From there, the venture funds will select two winners, both of which will be awarded a $2 million investment.
Although women receive a disproportionally small amount of venture funding, this “highly talented, but underfunded” demographic tends to provide strong solutions, Microsoft noted in a news release announcing the competition.
“Studies have shown that investing in companies founded by women delivers significantly higher returns than the market average,” the news release reads.
Peggy Johnson, executive vice president of business development at Microsoft, added: “We formed M12 to make smart bets on innovative people and their ideas, and the Female Founders Competition is an extension of that mandate. … It’s an opportunity to remind the VC community that investing in women is more than just good values, it’s good business.”
Microsoft will accept submissions through Sept. 30. The competition is limited to startups based in Europe, Israel and North America. To view the application guidelines, click here.
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