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WeWork, Softbank, Victoria 147, and ASEM launch program to speed up the expansion of women-led startups in Mexico

This initiative was launched in response to the disproportionate impact of COVID-19 on working women in the area.

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March
9, 2021

4 min read

This article was translated using AI technologies from our Spanish edition. Errors can occur as a result of this process.

WeWork, in partnership with Softbank, Victoria 147, Endeavor, and the Association of Entrepreneurs of Mexico (ASEM), launched the Women for Tomorrow call to help narrow the gender gap in Latin America's business ecosystem and create support networks that will power the success of Companies founded and run by women.

As part of the initiative, WeWork will provide $ 5 million ($ 5 million) across Latin America and the United States in flexible workspaces that are Bureau Veritas Biosafety certified, giving startups a 100% safe and equipped workplace for one year have at no cost. In addition, SoftBank, Victoria147 and Endeavor offer attendees exclusive mentoring, support and guidance to help them grow and accelerate their business.

This initiative was launched in response to the disproportionate impact of COVID-19 on working women in the area. In Latin America, the labor force participation rate for women was 46% in 2020, while that of men was 69% (they reached 52% and 73.6% respectively in 2019), representing a setback of more than a decade of equity and labor force participation Women in the region according to ECLAC data.

In Mexico, according to the IDB's COVID-19 Labor Observatory, a 16% loss is estimated in women, more than twice as much as in men.

Shortly before the pandemic, global GDP was also predicted to grow by up to 6% and boost the global economy by up to $ 5 trillion if women and men were equally involved in the business environment.

"Mujeres Para El Mañana aims not only to raise awareness of a critical issue that went largely unnoticed during the COVID-19 crisis, but also to create meaningful and lasting change for women in the workforce," said Liliana Mendez, WeWork director for Mexico City.

"Right now, as the aftermath of the pandemic has adversely affected some of the momentum women have gained in recent years, it is imperative that society as a whole bring the effort and commitment needed to bring about change on a large scale. Together, we must create innovative and rapid solutions to address this worrying trend that affects mostly women. "

The program will select more than 60 startups led or founded by women in the region. In Mexico, 10 winning startups will be selected.

Companies and founders wishing to apply can check the selection criteria and registration details and submit their applications on the following website: we.co/mujeresparaelmañana

Registration for companies will begin on March 16, and applications will be accepted through March 31, 2021.

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