Microsoft VC arm M12 broadcasts $four million feminine founders competitors

Microsoft has introduced a brand new competitors designed to assist funding for female-lend enterprise know-how startups.

M12, Microsoft’s enterprise capital (VC) arm that rebranded from Microsoft Ventures a couple of months again, has partnered with European VC agency EQT Ventures and Silicon Valley Financial institution holding firm SVB Monetary Group for the initiative.

M12 is accepting purposes from immediately by way of September 30, 2018 for startups in Europe, Israel, the U.S., Canada, and Mexico. Candidates may win the prospect to pitch for one among two $2 million investments. By way of standards, effectively, eligible startups ought to have not less than one feminine founder and have raised lower than $four million in funding — that could possibly be fairness or debt financing. Moreover, their product ought to deal with “a important enterprise drawback,” in keeping with a press release issued by M12 earlier immediately.

“We shaped M12 to make sensible bets on modern individuals and their concepts, and the feminine founders competitors is an extension of that mandate,” stated Peggy Johnson, government vp of enterprise improvement at Microsoft. “This isn’t about checking a field; it’s a chance to remind the VC neighborhood that investing in ladies is extra than simply good values, it’s good enterprise.”

Whereas Silicon Valley has fallen beneath the highlight for its sexist attitudes and bro tradition, the issue isn’t restricted to the U.S. tech scene — Europe has its personal gender imbalances to deal with, going by a latest report by VC agency Atomico. And, in keeping with PitchBook information, startups based by all ladies obtained simply 2.2 % of VC {dollars} in 2017, in comparison with 79 % for all-male founding groups.

Quite a few initiatives have emerged to deal with this imbalance, equivalent to Feminine Founders Fund, which lately introduced its second fund for female-led early-stage startups. Elsewhere, a brand new nonprofit known as All Elevate launched to assist ladies in enterprise capital and entrepreneurship join.

Now M12, EQT, and SVB are becoming a member of forces for their very own program. Eligible startups shall be whittled right down to 10 finalists, who will then pitch in particular person to win one of many two investments. They may also garner entry to mentoring and different assets. But it surely appears the overarching mission is to attract consideration to the gender funding hole.

“The EQT Ventures group is all about backing founders with the ambition, drive, and imaginative and prescient to construct a worldwide success story,” stated Alastair Mitchell, companion and funding advisor at EQT Ventures. “This competitors displays this and gives ladies entrepreneurs an important platform from which to launch their enterprise, offering them with entry to capital and mentorship. It additionally raises consciousness of the funding hole between female and male founders.”