In order for women entrepreneurs to have a better focus and growth in their businesses, the Agency for USA for International Development (USAID) and Mastercard announced the opening of registrations in Colombia, Peru and Ecuador to participate in a new version of Start Path Empodera, a four-month acceleration program for companies with high potential.
According to the entities, the program is designed for early-stage and scaling companies that have at least one female co-founder or who is part of their management team.
Additionally, the venture must demonstrate technical and financial viability, have a scalable business model and belong to the fintech, financial inclusion or technology for trade expansion sectors.
This is the fourth version of the program in Colombia, the second in Peru and the first in Ecuador. During the first three calls, more than 1,000 applications were received, of which 28 ventures were chosen to be accelerated.
According to the organizing companies, the winners of the first editions increased their clients, have had access to new business opportunities, increased their full-time employees or created new jobs, and have invested in initiatives to strengthen the participation of women in their companies.
Nathalie Renaud, deputy director of the USAID/Colombia Program Office, explained that: “We are convinced of the great potential that women entrepreneurs in the region have and of the boost we can give their businesses through this acceleration program, thus contributing to the economic empowerment of women in Latin America and through them generating an impact in communities that need more access to financial services to prosper”.
For her part, Marcela Carrasco, president of Mastercard for the Andean region, pointed out that: “We have built a network to benefit, promote and make visible the ventures led by women with high-value relationships that stimulate collaboration and boost trust, of them and the environment. This is a platform to unleash your enormous potential and so that your entrepreneurial steps are not lonely”.
He noted that the setting Start Path Empower is to generate economic opportunities for women entrepreneurs in Colombia, Peru and Ecuador; as well as facilitating access to capital flows, global markets, knowledge and mentoring. Registration is open until May 13.
