Is an accelerator program right for you?
Welcome to the Thirty-second edition of Unstoppable Female Founders!
#Unstoppable Female Founder
This week’s Unstoppable Female Founder spotlight, ironically goes to the Co-CEO of the organization appropriately called Female Founders. It’s the remarkable Carina Klaffl.
{Fan Girl Moment} I’ve followed Carina for years now and have always been inspired by the work she and the team at Female Founders have done to build a platform and use their voice to elevate female founders across Europe. In doing more research on her this week, it appears as though Carina was always destined for entrepreneurship.
She graduated with a degree in Entrepreneurship & Innovation from Lund University in Sweden, which laid a solid foundation for her career. Over the years, she's built a strong background in business development and partnerships, working across various industries including artificial intelligence, travel, entrepreneurship, and finance. This diverse experience equipped her with a unique perspective and a versatile skill set that's essential in her role as Co-CEO at Female Founders.
Female Founders is a growing community of 65,000+ entrepreneurial women in Europe whose vision is to reshape the economy and empower females in tech and innovation. The organization aims to solve two of the biggest pain points in the European tech ecosystem: access to funding for female-led ventures and access to female talent.
‘Our vision is an equitable future through equal opportunities in tech and innovation. We are living in a world with many challenges and technology will be one of the main drivers of solving them. We fundamentally believe that technological solutions need to be created by diverse groups of people in order to reflect and benefit the world’s diverse population.’ - Carina Klaffl
Female Founders offers a suite of products:
Grow F: This is a 5 week, investment readiness program for gender diverse founders across various tech industries. It is designed for startup founders that are looking to raise their first institutional rounds, will learn how to drive the fundraising process and negotiate terms, and get hands-on insight into all materials necessary for their fundraise.
Lead F: An 8 week online program towards becoming a people-first leader. It is for entrepreneurial women from scale-ups, VCs, tech companies, and founders who want to work on their leadership skills and widen their network
LTST: As part of ViennaUP, Vienna Startup Week, Lead Today. Shape Tomorrow. is a two-day event where startups, investors & innovation opinion leaders get together to create an inclusive future for entrepreneurship.
🎫 Come join me at Lead Today. Shape Tomorrow. 2024! 🎫
Happening next week 5th & 6th of June, the ladies at Female Founders have generously offered a 30% Off Code for the #Unstoppable Community. Simply use code Unstoppable at checkout: https://female-founders.org/ltst/
HUGE Shoutout to Carina for being an amazing example of strong female leadership as well as the entire Female Founders team for all of their hard work and perseverance, fighting for a more equitable startup ecosystem! To learn more about female founders 👉🏼 https://female-founders.org/
The Rant
Is an accelerator program right for you?
As a founder, you're likely navigating the chaotic and exhilarating world of startups, constantly searching for ways to accelerate your growth and ensure your company's success. One option you might be considering is joining a startup accelerator program. These programs promise to turbocharge your business, offering mentorship, funding, and invaluable networking opportunities. But is an accelerator the right path for you? Let's dive into the pros and cons of joining a startup accelerator, with a spotlight on some fantastic programs for female founders.
The Pros of Joining a Startup Accelerator
1. Mentorship and Guidance: One of the most significant benefits of joining an accelerator is the access to seasoned mentors. These are people who have been there and done it, they bring a wealth of experience and knowledge to help you scale. They can provide insights that you might not have considered, offer advice on avoiding common pitfalls, give you feedback on your business model’ and more.
2. Accelerated Learning and Growth: Accelerators are aptly named; they speed up your learning curve. Programs are typically intense, lasting several months and are designed to push you as a founder and your startup to the next level quickly. With most programs, you’ll find yourself surrounded by other driven entrepreneurs, creating an environment and network of peers, where you can learn from one another’s successes and failures.
3. Networking Opportunities: Being part of an accelerator means you're instantly plugged into a vast network of investors, industry experts and fellow entrepreneurs as mentioned above. We all know that in this industry, it’s all about who you know and that your network can open the right doors. With an accelerator program, you’ll have access to doors that might otherwise remain closed, providing you with opportunities to pitch to investors, form strategic partnerships, and gain early customers.
4. Access to Funding: Many accelerators offer seed funding in exchange for equity. While giving up a portion of your company can be daunting, this initial funding can be crucial in getting your startup to the next phase of growth, that could be developing your product out further, hiring key team members or launching your go-to-market strategy.
5. Credibility and Exposure: Participation in a well-known accelerator with a reputable brand, can significantly boost your startup’s credibility. It signals to investors, partners, and customers that your startup has a solid foundation and is worth their attention. This exposure can lead to additional investment, media coverage and a stronger market position at launch.
The Cons of (or reasons to consider) Joining a Startup Accelerator
1. Equity Trade-Off: The seed funding from accelerators comes at the cost of equity, typically anywhere from 5-10%. You’ll have to give up a slice of your company, which can be a tough pill to swallow, especially in the early stages when every percentage point feels significant.
2. Intense Pressure and Pace: Accelerators are designed to push you and the pace can get pretty intense. The condensed timeline means you'll be working long hours, making rapid decisions and constantly pivoting - aka throwing you into the deep end of being a startup founder. The pressure can be overwhelming and isn't suitable for everyone. Just a forewarning!
3. One-Size-Fits-All Approach: While accelerators offer a wealth of resources, many follow a structured approach which might not suit every startup. Your business might have unique needs that aren’t addressed by the program, or you might find that the generic advice doesn’t necessarily apply to your niche.
4. Potential Misalignment of Goals: The goals of an accelerator—rapid growth and quick returns—might not align with your vision for your startup. If you’re building a company with a long-term, sustainable growth strategy, the accelerator’s focus on speed and scale could lead to conflicts.
Female Founder-Friendly Accelerators I would recommend
If you’re a female founder, there are some fantastic accelerator programs designed to support you:
1. Grow F by Female Founders: Grow F is an excellent program that offers tailored support for female entrepreneurs. Their focus on creating an inclusive environment ensures you’ll receive the mentorship and resources you need to thrive.
2. Antler: Antler is a global early-stage VC that builds startups from scratch. They actively seek out diverse teams and provide funding, mentorship, and networking opportunities to help you succeed.
3. Google for Startups: Google for Startups offers various programs tailored to different stages and needs, including a dedicated accelerator for female founded startups.
4. Grace: Based in Berlin, Grace is dedicated to supporting female-led startups through funding, mentorship, and a strong community. Their programs are designed to help you scale your business while maintaining a supportive network.
5. Launch by Station F: Based in Paris is one of the largest startup campuses in the world. They offer specific programs for female founders, providing an incredible ecosystem of resources, mentors and investors.
Joining a startup accelerator can be a game-changer, as noted above, however there are several factors to consider and you should definitely do your research before deciding which accelerator to apply for. Speak with other founders who have gone through accelerator programs. Get their advice and feedback based on their own personal experience.
Hype Corner
The amazing female founders who have raised capital for their teams over the past week. HUGE CONGRATULATIONS TO THESE AMAZING WOMEN:
🇪🇸 Aurora Maggio Co-founder & CEO of Zefi.ai
🇩🇪 Evoléna de Wilde d'Estmael Co-founder & CEO of Faircado
🇬🇧 Anna Muñoz Farré Co-founder & CEO of Punto Health
🇳🇱 Angelique Schouten Founder of 10x Team
🇳🇱 Ingrid Romijn Co-founder & CEO of Q*Bird BV
🇬🇧 Kärt Tomberg, Liliana Antunes & Devika Thapar C-founders of ExpressionEdits
🇳🇴 Anita Schjøll Abildgaard Co-founder & CEO of IRIS.ai
🇬🇧 Tara Spielhagen Hale Founder & CEO of Swiipr
🇸🇪 Elina Berglund Scherwitzl Co-founder & CEO of Natural Cycles
I’m excited to see what these founders and their teams can achieve with their new injection of capital!
Events for Female Founders
🇩🇪 {Berlin} TOA is hosting it’s 10 year anniversary from the 4th until the 7th of June across Berlin. Meet the founders, investors & industry leaders that will shape our days well beyond tomorrow.
🇩🇪 {Frankfurt} Global Female Leadership Summit taking place on the 3rd & 4th of June is the economic forum for female executives globally.
🇦🇹 {Vienna} Lead Today Shape Tomorrow . The event is hosted by Female Founders & Grow F on June 5th & 6th as part of ViennaUP startup week, with an incredible speaker lineup! Grab 30% off your ticket w/ code Unstoppable at checkout!
🇬🇧 {London} London Tech Week is back again this year kicking off on the 10th of June and running all week at Kensington Olympia.
🇩🇪 {Hamburg} AiDiA Founder Pitch event will focus on elevating black founders as part of the wider conference happening on the 7th of Sept. 2024.
🇬🇧 {London} Sifted Summit is back on the 2nd & 3rd of October. Join 3000+ European Founders, Investors and Operators
🇫🇷 {Paris} WVC:E is back on October 7th & 8th in Paris. This conference is dedicated to female founders with previous speakers including Eileen Burbridge of Passion Capital and Sarah Drinkwater, General Partner of Common Magic.
Do you know of any events or programs aimed at supporting female founders? Send them over to be featured!
UFF NEWS ALERT
Our Unstoppable Female Founder Lunch Series is well under way:
If you’re interested in attending, register your interest here!
Space is limited for each and are first come first serve and filling up fast!
HUGE thank you to our partners Aerospace Xelerated, Connective3 and LaunchLeMonade.ai for all of their help and support organizing our lunch series!
Don’t forget to join our Unstoppable LinkedIn community 👇🏼
Thanks again for taking the time to read this week’s newsletter!
Have a wonderful weekend and we’ll see you in Vienna!
JH