WeWork Labs and the Female Founders Alliance (FFA) have partnered in an effort to support female founders and provide better opportunities when launching their businesses.
“They want access to angel and VC investors, to potential partners, and to amplifiers as they establish and grow their businesses,” said Leslie Feinzaig, founder and CEO of FFA.
In 2017, only 17% of startups had at least one female founder and received just 2% of the $85 billion total invested by venture capitalists last year.
The FFA runs a mostly remote, pitch-focused class called Ready Set Raise. Now, the accelerator will be hosted at WeWork Labs in Seattle, allowing participants to log in from their local WeWork spaces.
WeWork Labs places emphasis on inclusivity and flexibility, according to Elizabeth Scallon, head of WeWork Labs Northwest. She explained that they do not take equity from member companies.
For example, Yemi Adewunmi joined WeWork Labs to gain access to resources she needed to raise capital for her startup. Scallon said in a few short months, her company raised the majority of their seed round and placed as a finalist at Extreme Tech Challenge, one of the world’s largest startup competitions.
Scallon said that current FFA members will have access to WeWork locations across the U.S. for one-month, free. Founders that join Labs will pay a fee that is based on the market where they are admitted.