Co-working giant WeWork is set to support London’s female founded start-ups by partnering with Capital Enterprise ahead of International Women’s Day .
The initiative, which will coincide with WeWork’s ninth anniversary, aims to create the first community of its kind dedicated to female-led start-ups, offering support to 100 entrepreneurs in the OneTech programme.
Created to help underrepresented female and BAME-led (Black, Asian and Minority Ethnic) tech companies grow, OneTech’s goal is to double the number of women accessing investment by 2020.
The partnership comes as new data published by research consultancy Beauhurst suggests only 16 per cent of 2018 deals were secured by female-founded companies.
When the OneTech programme launched last year, Emma Obanye, head of delivery for Capital Enterprise, told the Standard: “We want this to be a movement - not something that just ends in two years. We believe that really this is a mission for everyone, not just for ourselves."
The latest in a series of efforts by the WeWork to support start-ups and tech entrepreneurs across the industry, the selected OneTech founders will receive a three-month hot desk membership – granting them access to mentors, local investors and WeWork’s network of over 400,000 global members.
A series of investor and influencer events, including 1:1 advice sessions held by the likes of broadcaster Laura Jackson and Vogue’s social and community editor Beth Squires, as well as networking opportunities, will start on March 4 and run up until International Women’s Day on March 8. These will be free for members and non-members to attend.
In addition, 30 hot desks will be made available to 18-24 year old female and BAME entrepreneurs seeking to grow their own companies.
“54 per cent of WeWork London’s female members are founders, sole proprietors, or in management and I’m looking forward to working closely with the Capital Enterprise team to support more female founders across London,” said Leni Zneimer, WeWork’s Vice-President of Community in a statement.
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With over 20 WeWork locations situated within a mile of London’s tech network, around Old Street and East London, the partnership aligns perfectly with OneTech’s interest in discovering tech founders from neighbouring Hackney, Newham and Tower Hamlets.
As Obanye said last year: “These three boroughs are on the doorstep of London’s tech ecosystem, but many of these communities don’t have access to the opportunities that are literally on their doorstep.”
OneTech is already having an impact. Since the initial launch in October, two founders in the initiative have raised £450,000 in funding respectively.
Given the support and fundraising capabilities large companies like WeWork offer female founders, this initiative is a significant step towards bridging the gender gap in the start-up sector.
