The IFC ScaleX program attempts to close the gender financing gap
IFC and the Women Entrepreneurs Finance Initiative (We-Fi) announced a new call for applications for IFC ScaleX, a new program aimed at bridging the financing gap that women entrepreneurs continue to encounter, particularly in emerging countries, through supporting accelerators.
IFC ScaleX is a performance-based project for which IFC has partnered with Village Capital to launch. It will reward up to US$25,000 to business accelerators that have assisted women-led enterprises in emerging countries in raising equity financing.
The goal is to incentivize accelerators to actively assist women in obtaining funding possibilities, resulting in a total investment of US$40 million in women-led enterprises over the following two years.
“Other circumstances being equal, women raise significantly less money than males after acceleration,” stated Stephanie von Friedeburg, senior vice president of operations at IFC. “We need to level the playing field so that the best ideas may be supported.” IFC ScaleX is aimed to accomplish this by supporting effective accelerators that in turn support women entrepreneurs with exceptional ideas.”
Wendy Teleki, head of the We-Fi Secretariat, stated that there is still a considerable gender imbalance in receiving finance, particularly in high-growth technological areas.
“It is troubling to see that women entrepreneurs receive only a small fraction of the global venture capital, despite the enormous potential of their solutions. IFC ScaleX will help promote more gender-inclusive acceleration and investment across emerging markets, which is critical for creating more high-growth and resilient women-led firms,” she said.
“Other circumstances being equal, women raise significantly less money than males after acceleration,” stated Stephanie von Friedeburg, senior vice president of operations at IFC. “We need to level the playing field so that the best ideas may be supported.” IFC ScaleX is aimed to accomplish this by supporting effective accelerators that in turn support women entrepreneurs with exceptional ideas.”
Wendy Teleki, head of the We-Fi Secretariat, stated that there is still a considerable gender imbalance in receiving finance, particularly in high-growth technological areas.
“It is troubling to see that women entrepreneurs receive only a small fraction of the global venture capital, despite the enormous potential of their solutions. IFC ScaleX will help promote more gender-inclusive acceleration and investment across emerging markets, which is critical for creating more high-growth and resilient women-led firms,” she said.
