There is plenty of data reporting that women do not grow businesses as big, nor have as much access to capital as men. We are working to reverse that trend with an intense focus on the CEO and her company.
Name: Prosper Women Entrepreneurs’ Startup Accelerator
Location: St. Louis, MO
Website: www.prosperstl.com
Managing Director: Mary Jo Gorman
This article is part of our Startup Accelerator Spotlight Series featuring accelerators from around the world. We hope these spotlights will assist the entrepreneur should they consider attending an accelerator program.
In two sentences or less, tell us about your accelerator and its objectives?
We invest in early stage, women led companies that focus on tech, healthcare tech and consumer products. Our goal is to help women grow bigger companies and obtain funding for growth.
Why is your accelerator program unique? Please describe the benefits of participation in your program.
There is plenty of data reporting that women do not grow businesses as big, nor have as much access to capital as men. We are working to reverse that trend with an intense focus on the CEO and her company. Participants are matched with one or two mentors who focus on the following areas:
- Sales
- Fundraising preparation
- Leadership activities
What is the most difficult part of working with startups?
Often a new entrepreneur doesn’t know what they don’t know and isn’t sure how to proceed. They may get a lot of advice, some of it bad, and get misdirected. Trying to sort through this can be difficult.
Are You Prepared for the Entrepreneurial Journey?
What do you enjoy the most; what do you find most appealing about working with entrepreneurial startups?
It’s great to have an opportunity to bring disruptive solutions to the marketplace and create new business leaders. These successful CEOs will then positively impact the next group of entrepreneurs. We are enhancing the business culture for women and enabling greater success.
Accelerators Focusing on Women-led Startups
Tell us about your success stories; Which are the most interesting companies to have participated in your program?
One of our most interesting companies, sixplus, is a company that creates private dining group experiences. One can choose from private rooms in restaurants, banquet halls, restaurant buyouts and more. They streamline payment so you don’t have to worry about splitting the check.
Another company, Janus Choice, helps hospitals find the right after care for their patients when they are discharged. The unique technology allows for a match between the patient and the facility which can deliver the right services, insurance, location and quality metrics.
What are the three most important factors startup entrepreneurs should consider when contemplating attending an accelerator?
- They should consider how much attention they will get in an accelerator from the mentors,
- what network the mentors and community will be bringing to them and
- the entrepreneurial backgrounds of the leaders and mentors.
An Advisory Board: 7 Reasons They Are Critical to the Scalable Start-Up
What else would you like to share?
A CEO should think of the accelerator as a place that they will work intensely on their business with a group of experts who can help them avoid mistakes.
In search of an accelerator that aligns with your startup’s needs? Try TurboFunder’s Find My Accelerator search tool!
Pam Goforth
Pam Goforth is Research Manager for FundingSage, which provides valuable information, tools and resources to entrepreneurs seeking to start, grow and fund a business.
