UBS grants $2 million to expand Project Entrepreneur
UBS and Rent the Runway Foundation have expanded Project Entrepreneur with an additional grant of $2 million from UBS.
The grant will help the program achieve its ultimate goal of empowering female founders.
"Startups led by all-male teams are four times more likely to receive funding than companies with one woman leader. This needs to change," Jennifer Hyman, CEO and co-founder of Rent the Runway, said. "We are thrilled to continue to partner with UBS in breaking down the barriers for female founders by democratizing the knowledge, resources and networks necessary to build impactful companies."
Project Entrepreneur's third annual Project Entrepreneur Intensive will see 200 women entrepreneurs who founded startups work with leading entrepreneurs, investors and market experts.
Among these 200 participants, 10 finalists have already been given a superlative opportunity to participate in the event's pitch competition for a chance to receive additional funding of $10,000 and a spot in a five-week accelerator program hosted at Rent the Runway’s headquarters.
The third edition of annual Project Entrepreneur Intensive will take place in New York City on April 13-14, 2018, and include an interactive keynote conversation between Hyman and Arianna Huffington, co-founder and CEO of Huffington Post.
Project Entrepreneur, which began in 2015, has already seen a huge success with its entrepreneurship education and training programs offered to more than 1,600 female founders. The majority of those have already contributed to raising $18 million with nearly a 100 percent growth rate in 2016.