Microsoft awards $4M to 2 business in Female Founders Competition

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The finalists in the Female FoundersCompetition The 2 winners, Mental Canvas and Acerta Analytics, were revealedTuesday


RebeccaWilkowski

Microsoft’s endeavor fund revealed the 2 winners of its Female Founders Competition on Tuesday, each of which will be granted $2 million in financing.

The fund, M12, released the Female Founders Competition in July in collaboration with EQT Ventures and SVB FinancialGroup The competitors looks for to bridge the financing space in equity capital and eliminate the mistaken belief that couple of ladies are constructing business tech business.

The winning business are Mental Canvas, a software application business that integrates standard 2D sketching with 3D abilities, and Acerta, a business whose AI platform works to guarantee the quality and dependability of lorry systems.

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Julie Dorsey, creator and chief researcher of MentalCanvas


RebeccaWilkowski

Women creators tend to have a more difficult time protecting financing. Just 2.2 percent of equity capital financing in the United States in 2015 went to business established just by ladies, according to information from market trackerPitchbook And yet, research study reveals that business led by ladies tend to create much better returns.

Julie Dorsey, creator and chief researcher of Mental Canvas, stated the Female Founders Competition is an action in the best instructions when it concerns diversifying the market.

“If you want to change something — that is, if you want to fund female-founded companies or seek parity in venture capital funding — you need to change things,” Dorsey stated. “You can’t just keep doing the same thing over and over and expect a different outcome. Setting up a competition where you invite only females to enter is a really smart way of identifying great female-founded companies.”

Dorsey stated winning the competitors isn’t just an acknowledgment of Mental Canvas’ innovation and the group’s effort, however it’ll likewise permit the business to employ more workers and grow.

Acerta is likewise seeking to broaden its group, stated CEO and co-founder GretaCutulenco

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Greta Cutulenco, CEO and co-founder ofAcerta


RebeccaWilkowski

“From meeting other female founders to building our investor network, the competition was a positive and valuable experience,” Cutulenco stated. “We’re excited about what’s to come.”

Last month, M12 called the 10 finalists picked from a swimming pool of numerous submissions from 28 nations. Those finalists pitched their business to judges at the Microsoft Reactor in San Francisco.

“It’s our responsibility as VCs to begin leveling the playing field so that those companies who receive funding are a truer reflection of the world in which we live,” Peggy Johnson, executive vice president of service advancement at Microsoft, composed in an article.

In addition to $2 million in financing, the winners will likewise have access to tech resources, mentoring and legal counsel.

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