UBS launches third year of global accelerator program for female founders with biggest ever cohort

London10 apr 2024, 15:00 CESTMedia GlobalMedia Releases EMEAMedia Releases APACMedia Releases AmericasMedia Switzerland

London, April 10, 2024 - UBS announced the launch of Project Female Founder 2024, a year-long, global investor readiness, networking, and mentorship program, that arms early-stage female founders with fundamentals to support their access to aligned capital. With partners Fortuna, Coralus, and Live True, Project Female Founder is a direct call to action to UBS's Female Founder Award, UBS's annual award program for enterprise tech and fintech female founders in collaboration with UBS Next, the firm's venture and innovation unit, and aims to help address the gender funding gap. The annual award recognizes the next generation of women-led companies and provides them with access to the UBS venture ecosystem.

Now in its third year, Project Female Founder consists of Fortuna Funding's tailor-made, eight-week, investor readiness and pitch practice program which addresses all aspects of raising series A capital, as well as how to create a custom funding strategy in alignment with the right opportunity. As part of the investor readiness program, participants will be mentored by UBS Client Advisors and have access to the global Coralus network (previously SheEO and founded by Vicki Saunders, a UBS Global Visionary), an ecosystem of early-stage female founders focused on mentoring and connectivity, to develop meaningful relationships that will give them the support they need to succeed.

Uniquely as an accelerator program, as well as working with Client Advisors, UBS invites 'mentors' from the worlds of venture capital, crowdfunding, private investors and the law to guide and support these founders. The mentors come from UBS's own entrepreneurial ecosystem and are those keen to share their expertise to support the founder's growth. For 2024, we have seen a 70% rise in applications by female founders to the program and also from our own advisors who can see the opportunity the program offers them to build their own networks. The total number of founders is 75 and of UBS Client Advisors is over 60 for 2024 and they come from across the world, from LATAM, the US and Canada to Europe, the Middle East and APAC.

"Now into our third year of Project Female Founder, we can see how exposure to our own entrepreneurial networks within UBS and guidance from our own specialists can lead to new opportunities for mentorship and funding opportunities" said Emma Wheeler, Head of Women's Wealth at UBS Global Wealth Management. "This structure provides a real step-up for founders on their growth journey, which combined with investor readiness training, is vital to their success. As a wealth manager, we may not always have the financial solutions to support at this early-stage of growth but having the chance to build relationships beyond conversations around financing is of significant value. It also provides an opportunity for our Client Advisors to build their venture ecosystems and position UBS within these as entrepreneurs exit and for our Investment Bank for those seeking to IPO. Providing personal financial planning guidance for early-stage founders can ensure that they are financially resilient in preparation for exit, and in some cases this can extend the time of exit to realize further growth."

In 2021, UBS published a report entitled "The Funding Gap: Investors and Female Entrepreneurs", which examined the reasons behind the funding gap discrepancy between men and women entrepreneurs, and identified ways this can be narrowed. The report highlighted that if women and men participated equally as entrepreneurs, global GDP would rise by 3-6% or USD 2.5-5 trillion. The findings also outlined why investing in women-led businesses is a good opportunity for investors as, on average, they generate 78 cents of revenue per dollar invested, compared to 31 cents for those led by men.

According to the report, having a strong network in the venture capital space also plays a critical role in deal sourcing, deal syndication, and decision-making. The research showed men are more likely to be part of a social network that included other men, while most of the non-investing women did not know any female peers or role models who were angel investors. This shows that male entrepreneurs are more likely to receive or have access to relevant guidance from their network, resulting in higher motivation and validation of their thinking and business model, more useful information around vendors and clients, as well as useful inputs in their business plans.

The existence of a robust social network is a key determinant of entrepreneurs and founders' future success. Tackling the funding gap for female founders and entrepreneurs is a potential boost for the economy and a powerful untapped opportunity for investors.

"Throughout my 20-year career in the capital markets, I have advised many companies on early-stage funding strategies, from bootstrapping to IPO," said Delilah Panio, Founder and CEO at Fortuna. "The Fortuna Funding Investor Readiness program helps women access that critical, early-stage capital. Given market conditions these past few years, it is more important than ever for female founders to understand the fundamentals of raising aligned capital, regardless of where in the world they are based. Project Female Founder uniquely provides this education, as well as access to a global network of peers and investors."

Ana Mahony, Founder and CEO at Addition Wealth and winner of the 2023 UBS Female Founder Award, said "I'm proud of the strong community of women supporting and building our organization, including the women venture capitalists who wrote our first checks and continue to invest in us". Addition Wealth is a financial wellness company dedicated to making personal financial expertise inclusive and accessible for all individuals.

About UBS
UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 5.5 trillion dollars of invested assets as per second quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

About Fortuna Funding
Fortuna Funding is a practical and intentional guide to accessing aligned capital. Fortuna Funding's proprietary Investor Readiness Program is unique in addressing the key components to be ready to take on external capital, to understand the various capital options, and to create a custom funding strategy to accelerate success and be in alignment with the right capital.

About Coralus
Coralus (formerly known as SheEO) is a radically generous community supporting women and non-binary
people working on the World's To-Do List. Launched in 2015 in Canada and now also with venture
programs in the US, Australia, New Zealand and UK, this visionary model is emerging as a leading global
innovation for transforming how we fund small and medium sized businesses. Rather than trying to fit
women into the existing models and systems and level the playing field, we are creating an entirely new
field. To deliver, Coralus works with 'Activators' globally who gift their capital, buying power, networks and
expertise as an act of Radical Generosity to support; and 'Ventures' led by innovative women working on
the UN Sustainable Development Goals through a 0% interest loan. To date, Coralus has circulated $18.5M to 180+ women- and nonbinary-led ventures by distributing capital via crowdsourced decision-making.

About Live True
Live True is a consulting and coaching practice founded by Gail Wong, a 3x-certified coach, conscious investor, and business advisor. Gail's prior experience advising financial and technology companies on >$10bn of M&A/ financings at Morgan Stanley informs her cross-disciplinary work with change-makers. Trained in healing financial trauma, she coaches purpose-led individuals to align their purpose, careers and money and build lives of abundance and fulfilment. As a facilitator and advisor to Angels of Impact, Circulate Capital, Coralus and UBS, Gail supports organisations directing capital to build a world that works for all. A gender-lens angel investor and ex-VC in Asia, Gail's portfolio is over ¾ women-led and/or impact-driven.

UBS AG