Grant & Mentorship Program for Female Founders and Founders of Color in Chicago
The SECOND #NewPattern Coalition
Originally developed by Beta Boom, #NewPattern is a movement that seeks to promote and celebrate founders from various backgrounds in order to change the narrative that diverse founders can and do create successful companies. This movement also aims to advance the fact that companies that seek to serve the needs of a greater variety of people are tremendous opportunities for economic growth and investment.
#NewPatternCHI is the second coalition to come out of the #NewPattern movement that will begin accepting applications in November.
IT'S TIME TO START A NEW PATTERN
Chicago ranks as the 13th most diverse city in the U.S., yet the city’s entrepreneurial ecosystem appears more racially homogenous at startup management levels, skewing whiter than the nationwide startup scene overall. And although there is better than average gender diversity among management teams at Chicago startups, but more work needs to be done to equitably spread opportunity and access to resources across the board.
Enabling More female founders
Chicago is the number one startup ecosystem for female founders and has the largest percentage of women-founded startups in the world at 25% compared to the global average of 14.1%.
With this position, Chicago can play an important role in moving the needle for nationwide numbers of capital allocation toward female founders. Currently only 2.8% of Venture Capital dollars are allocated to female-founded companies.
The New Pattern grant will allocate up to $10,000 to awardees along with matching catalytic human resources over 3-6 months to help advance these companies onto a sustaining path.
Want to apply to receive the grant or stay updateD?
Sign up to receive announcements related to this grant opportunity.