Are You the Next Jessica Alba? Babson Is Giving Away $250K
Do you have a GENIUS business idea, but not the financial backing that rich AF celebs have?
Sadly, last year Babson College discovered that companies with female CEOs receive less that three percent of all venture capital investments in the U.S., reports The Boston Globe.
To reverse this uncool trend, Babson is teaming up with venture firm Breakaway to grant a round of funding to a startup company run by ladies in a contest called the Babson Breakaway Challenge.
Applications for the contest are now being accepted. The winning company will receive $250,000 as well as marketing assistance from Breakaway, who will hold an equity stake in the company.
From the applications, fifteen semifinalists will be chosen to participate in a series of workshops and a pitch contest in January. Then, six finalists will be selected to attend a six-week business development program and a second pitch contest before a winner is chosen.
For students who aren't quite ready to launch their own business but want to get some experience in the startup game, Breakaway is also now accepting applications for six female venture capitalist apprentices to work alongside its mentors. The best of the bunch will get an internship with Breakaway.
We saw how many of you had brilliant ideas with the #BUILTBYGIRLS Challenge. Get out there and apply for the chance to create your awesome ideas IRL!