An info session was hosted on 6th November for prospective applicants for the WeScale Accelerator Program by Bangladesh Angels and Singapore-based VC fund Accelerating Asia, which has been a forerunner in backing high-potential early-stage startups from Bangladesh who've gone on to raise millions of dollars from international investors.
WeScale is the first cross-regional accelerator in South Asia focused on women-led companies who want to raise their first funds. It is a Digital Frontiers program, part of South Asia Regional Digital Initiative (SARDI) by the USAID’s Innovation and Research (ITR) Hub, Technology Division (ITR/T), implemented in partnership with DAI, alongside a power-packed consortium of angel networks and accelerators from across the region, including Accelerating Asia, SAFAL Partners, India Accelerator and Lankan Angel Network.
Last year a series of in-depth interviews conducted by SARDI in Bangladesh, India, Nepal and Sri Lanka revealed a lack of mentorship and support for women entrepreneurs in tech. Interviewees mentioned a strong startup support ecosystem that fades away and leaves businesses lacking mentorship for growth over time and further investment opportunities. In addition, enterprises lack the support required to navigate the myriad digital policies affecting their business operations.
To help address this, the consortium came together to launch a cross-regional accelerator that would start with 100 women entrepreneurs and work with the top 20 to help raise investments.
“Accelerating Asia, as the program lead, has worked with the partners to lay the initial program curriculum and provide localised solutions, which include masterclasses with our Entrepreneurs-in-Residence and Mentors-in-Residence who are specialists in raising funds, scaling a company, and digital safety and security for businesses,” said Rohana Wood, Partnerships and Marketing Manager at Accelerating Asia.
"We aim to be the leading cross-regional platform for funding women entrepreneurs. Having worked with 300+ mostly early-stage companies in the region and helped invest USD 70 million+ into them in the last few years, we have the networks and know-how to make it happen," Nirjhor Rahman, CEO of Bangladesh Angels, shared his remarks.
"The idea is to create a path to a sustained network for women entrepreneurs in South Asia who can lean on and learn from other successful women entrepreneurs from the region to change the status quo in the gender gap in the tech entrepreneurship sector," remarked Tina Jabeen, Senior Government Policy Consultant at DAI.
She further added that by leveraging sustained partnerships across borders, the program would promote engagement with the digital policy environment for the relevant stakeholders.
The program is open to women entrepreneurs in Bangladesh, India, Nepal, and Sri Lanka. It features a 12-week virtual program to prepare companies for growth and investment. The program network boasts women entrepreneurs, mentors, investors, government and other key players in the innovation ecosystem.
Applications for WeScale are open till 31st December. To learn more, please visit this link.
