Removing Restrictions and Upping Diversity
Since removing the restriction of our startup founder’s affiliation to the University of Melbourne from students, staff and alumni of 5 years to students, staff and alumni of any year, we have welcomed a record number of applications and selected one of the most diverse MAP cohorts yet.
The MAP16 founders tick a lot of boxes – they are global citizens (from Mexico, Norway, Holland, Italy, New Zealand and Australia), are different ages (from students to seasoned professionals), have different specialisations (from law and science to engineering and design) and, true to MAP style, these founders are building businesses in emerging sectors (from artificial intelligence and socially accessible solar energy to medical health and diagnostics).
The transfer of knowledge across this diverse group has been rapid, but we know it could be faster and that we could support future startups to have an even greater chance of success by ensuring one more element of diversity is present in the mix – gender.
Why True Diversity Matters
We are proud to have built a MAP team that ticks all the boxes – we have an international outlook (from Malaysia, Ghana, UK, China, US, Australia and New Zealand), are at different life stages, have a range of educational experiences and expertise, and are cultivating a great set of female leaders.
We believe true diversity in a startup’s founding team should encompass age, gender, education, and specialisation. We also believe that once a team with this competitive edge is set up, mentored and given the right support, they will produce a better, more sustainable business. It is our vision that these businesses will in turn help us to achieve our vision for a more prosperous Australia for all.
Evidence consistently shows companies that are led by women and embrace diversity of all kinds demonstrate improved levels of innovation, creativity, and quite simply, better bottom lines (by as much as 30% on average). Once companies like these attract investment, an incredible 63% of those with female founders perform better than those with all male teams.
Turning up the Heat on Gender Diversity
As our Director Rohan Workman highlighted at our Demo Day this year, having no women pitch that evening was upsetting. We know there’s a lot of work to do; we are up to the challenge.
We want MAP to be the place for female founders to flourish; founders of Melbourne, make yourselves known and prepare to apply for 2017.
MAP startups gain access to $20,000 in funding, office space and mentorship for 5 months, and have the opportunity to pitch to investors here in Melbourne and in Silicon Valley. MAP has a public benefit mandate that extends to the accelerator program. As such, we do not take equity in the startups in our program and we support startups of all kinds.
To date, we have supported 34 startups with 8 female founders who have gone on to employ another 29 women. These statistics can be improved, and have in the past few years – for example, the number of women in our applicant pool this year more than doubled, which is an important first step. We do not want and cannot allow any more female founders to miss out on this opportunity as your success is ours. We are excited to be in the position to build and shape the future of startups where doors are kept open and an even wider group can participate.
Opportunities for Female Founders at MAP
How are we actively working to create this shift? We have focused our efforts on developing and preparing exceptional talent to enter the accelerator program and have been excited to see that we are quickly approaching gender parity in our development programs (56% men to 44% women).
There are many ways in which we welcome aspiring entrepreneurs and female founders into the MAP family and you’ll notice we’ve taken things up a notch this year. Take a note of the following initiatives we have developed over the past 5 years and share them with your networks:
Female Founders Meetup est. 2013
Our renowned Female Founders meetup, founded with Google, is one of the largest in the world. The events are for women and men at all stages of their startup journey and are designed to inspire and inform you or introduce you to amazing female founders who are blazing the trail. Sign up here.
The Velocity Series est. 2013
The Velocity Series programs are tailored to support aspiring entrepreneurs to become well-rounded founders of early-stage startups. The Velocity Series includes three streams: Startup Velocity – for the frameworks and practical skills to get the ball rolling; Escape Velocity – to help founders with customer validation and building traction; and Social Velocity – merging the worlds of startup and social enterprise. Startup Velocity is offered multiple times per year across two consecutive evenings, whilst Escape Velocity and Social Velocity are both 6-month programs that use the lean startup methodology and mentorship to push teams past ideation to validation and traction.
Escape Velocity est. 2013
In former iterations, Escape Velocity was a light touch, 3-day program. The program has since been redesigned to support high-potential teams with a clear methodology and mentorship as they search for product market fit. Express your interest or refer a friend.
Social Velocity est. 2016
This competitive-entry program is designed for mission focused founders building startups with social or environmental impact. The experience pushes teams to better understand their social issue, sets them up with experienced mentors, connects teams with Escape Velocity, and introduces them to the social entrepreneurship ecosystem.
Express your interest or refer a friend.
The Franklins est. 2016
This program is especially for women entrepreneurs at all stages. The skills-based program is co-designed with participants to sharpen their entrepreneurial acumen, and to connect them with supportive peers and mentors. (The Franklins are inspired by the story of Rosalind Franklin, whose pioneering scientific work went largely unrecognised in her lifetime. We want to support and celebrate our female entrepreneurs and innovators!) Express your interest or refer a friend.
Open Mic Night est. 2016
This has been a successful new addition to our talent development repertoire – branders and marketers, wheelers and dealers, coders and programmers, and everyone in between are welcome to pitch their skills and expertise to startups. Startups also have the opportunity to find their next team member at this event. Express your interest or refer a friend.
Open Office Hours est. 2016
For those of you who have a startup that is past the proof of concept stage, we are more than happy to take a meeting with you to learn more about your idea and to provide advice for applying to MAP at our Open Office Hours. Feel free to book a session here – http://map.youcanbook.me
(If you’re not yet past proof of concept, check out the opportunities above and let us help you get there!)
Starting up and Leaning in
We are lucky to have an incredibly committed network of high-profile and up-and-coming women – and men – who are working with us to bring about real change on this front. We want to recognise them and thank them for their faith and their energy. Without them, the additional initiatives we have designed and run, would not be possible.
With 1-in-4 startups being founded by women in Australia, MAP’s activities alone will not provide the silver bullet in changing the status quo. We encourage all of you who are participating in Australia’s flourishing entrepreneurship ecosystem as founders, funders or mentors to lean in and help us achieve our vision. Tap female founders in your network on the shoulder and encourage them to join the MAP family.
If you are interested in mentoring the next generation of founders with truly diverse backgrounds, we cannot wait to work with you, please get in touch. We are working towards showcasing startups that represent a broad cross section of society and who have developed the skill-sets necessary to grow successful businesses into the future.