WeXchange

ARE YOU READY TO POST? YOU ‘ VE GOT UP TO 23 AUGUST!

The 2020 Women STEMpreneurs Competition, which aims to reward the most innovative and dynamic STEM (science, technology, engineering and math) entrepreneurs in Latin America and the Caribbean with potential access to funding, is now open.

The competition is part of the 8va edition of WeXchange, the largest platform in Latin America and the Caribbean that connects and strengthens STEM entrepreneurs, founded by BID Lab, an innovation laboratory of the IDB Group (IDB Lab is the Multilateral Investment Fund, managed by the Inter-American Development Bank). The partner in charge of the competition organization is Angel Ventures, a venture fund regional capital focused on early-stage and early-growth companies.

If you are a co-founder of a startup in the process of raising capital, from seed to Series A/B, postulate and be one of the 12 finalists that will make the pitch to international investors during the WeXchange forum 2020, which will take place on 10-12 November in a virtual way. Six finalists from the seed category and six finalists from the Pre-Series A category, A/B Series will be selected according to the criteria below.

WHO CAN APPLY?

• Startups with at least one woman within the founding team, who will present and postulate the respective startup.
• Startups with a high technological component or where Science, Technology, Engineering and Mathematics (STEM) are key pieces, including sectors such as fintech, edtech, agtech, healthtech, biotech, e-commerce, transportation/mobility, logistics, digital security, cleantech, tourism, SaaS for SMEs, among others.
• Startups with headquarters and operations in at least one Latin American and/or Caribbean country.
• Startups with highly scalable business models at the regional/global level and high potential for social and/or environmental impact.

CATEGORIES

• ) Semilla: startups that: (i) have at least one viable minimum product (MVP), have achieved initial market traction, and are looking for smart seed capital to validate their product-market fit and accelerate growth, (ii) have received less than USD1 million in financing, and (iii) have been created in the last 4 years.
• b) Pre-Series A, Series A/B: startups that (i) have validated their product-market fit, (ii) are positioned to scale regionally or globally the startup, and (iii) are in the process of being lifted. from a Pre-Series A, Series A, or B.

PREMIUM

funding BID Lab funding round. BID Lab will be able to select a startup among the finalists of the Pre-Series A category, A/B Series for potential financing of up to USD1 million (in capital investment, SAFE, convertible note or debt) *.

Fast-track for acceleration and seed capital of 500 Startups LatAm. 500 Startups LatAm will be able to select up to two startups among the seed category finalists, which will access a fast-track in the process of selecting the first batch of 2021 to potentially participate in its program of acceleration and investment of pre-seed capital.

Premium access to venture capital venture funds. Finalists in both categories will have premium access to partners from the region’s next venture capital funds for consideration of potential due diligence, according to alignment with each fund’s investment thesis * *:

• ALLVP
• Carao Ventures
• Comet
• Dila Capital
• Magma Partners
• Maya Capital
• NXTP Ventures
• Vulcan

FINALIST SELECTION CRITERIA

• Founder team profile, previous experience, and execution capability.
• The differentiator/disruptive element of the proposed solution.
• Market size and growth potential.
• Potential scale.
• Potential social and/or environmental impact.
• Performance and traction to date.

SELECTION PROCESS

Stage 1: August 3-August 23, 2020. Receipt of applications via F6S.

Stage 2: August 24-October 31, 2020. Evaluation of proposals. Selection and announcement of 12 finalists. More than 50 investors from accelerators, company builders and venture capital funds from the region will participate as evaluators.

Stage 3: 10 to 12 November. Live final pitch from 12 finalists during the WeXchange forum. Announcement of companies selected by BID Lab and venture capital funds allied to the competition to continue the due diligence process for potential investment.

HOW TO POST?

The bid will be made through the F6S bidding platform. The deadline for postulating is August 23, 2020 (midnight, Eastern Time of the United States of America). Only postulations that fully meet the assessment criteria and requirements described will be reviewed.

DO YOU HAVE INQUIRIES?

Send us an email to eacuna@angelventures.vc or fcerna@angelventures.vc with a copy to wexchange@iadb.org