In the UK, only 33% of entrepreneurs are women and startups founded by women receive less than half as much funding as male-founded startups.
However, The 200Bn Club, which is launching today, is aiming to change this by offering female entrepreneurs a training programme that teaches them to pitch their business effectively and raise funds. It also provides access to investors.
The 200Bn Club is backed by 43 venture capital companies with £900bn in assets under management (AUM).
Its name comes from the organisation's belief that "if the UK were to achieve the same average share of women entrepreneurs as best-in-class peer countries, this would add £200bn of new value to the UK economy”.
“Having gone through the process, I’ve discovered that most accelerators focus on networking and take equity, without any guarantee of investment. There’s no doubt networking is important, but without the money to get started or scale, it is meaningless,” commented Dr. Amber Ghaddar, one of the founders of the 200 Billion Club.
“This is why, with the help of our VCs and corporate partners, we are backing women to adapt, conquer and change existing paradigms within private equity financing."