Breakaway and The Center for Women's Entrepreneurial Leadership at Babson College are proud to formally announce the Babson Breakaway Challenge™ – a one-of-a-kind business competition and mentoring program that promotes gender parity in the venture capital industry, by supporting both women-led businesses and fostering aspiring women venture capitalists.
The winning entrepreneur team will receive $250,000 for their business—the largest amount of funding awarded in a business competition for women—as well as marketing services, including the creation of a customized brand identity platform.
The Babson Breakaway Challenge is open to consumer-facing businesses where at least 50 percent of the founding team are women active in the company, have less than $500,000 in revenue, cannot have raised more than $250,000 in outside funding by March, 2016 and have the ability to participate in the Challenge’s programming that takes place in the Boston area.
Fifteen semifinalist entrepreneurs and six venture capital apprentices (VCAs) will receive hands-on, in-depth mentoring from experienced, successful entrepreneurs and venture capitalists, and have the opportunity to pitch their business plan and participate in the venture capitalist process. From there, six entrepreneur finalists will be selected for a six-week, one-on-one mentoring program leading up to the final pitch competition in March.
Applications for the Babson Breakaway Challenge open on Monday, October 5 and close on December 4.