TSF Generation 7 has just graduated! The S Factory, a Start-Up Chile acceleration programme for women led start-ups has just come to an end.
Finalizó #supPitchFinale de @startupchile! Estamos orgullos de los proyectos de nuestras amigas @adario14 @MeSenzi @comoquiero_menu @si_tienda @gringo_zone, entre otras. Felices de haberlas conocido y haber aprendido de ellas también. Ahora a esperar los resultados ... 😱 pic.twitter.com/v2GZwlGeaD
— Sustentabla (@Sustentabla) October 12, 2018
For the past half a year we have been developing Gringo in Chile along other 34 start-ups led by entrepreneurial females from over 14 countries. The programme was created with a simple thought in mind: we need more women among the start-up executives. Sebastian Diaz, a Deputy Director of Start-Up Chile claims that “businesses led by women survive on average twice as long as those led by men and sell an average of 30% more”.
— R Pooran Prasad (@pooran) October 11, 2018
The data seems to back it. According to womenwhotech.com, only 7% of all investor money goes to female led start-ups, although these businesses have 35% higher ROI and generate 17% more revenue than male led start-ups. Why? This is still being discussed. BCG research suggests that women’s tech knowledge tends to be questioned by investors more often giving the founders more feedback and chance to fix the product pitfalls in advance. BCG also claims that women, being naturally more conservative in their financial forecasts, present more realistic projections and take responsible financial decisions.
Nos encontramos junto a @startupchile en "Final Pitch" donde a demás de despedir a la séptima generación de The S Factory se realizará la premiación con los mejores emprendimientos femeninos #EmprendedoresBci pic.twitter.com/2SrNXNPR4u
— Banco Bci (@BancoBci) October 11, 2018
The results of TSF Generation 7 confirm these findings. Many of the start-ups that joined the programme in May 2018 with a mere idea, graduated in October, having a functional product and… sales. The projects were developed in Chile but are meant to have a global impact. And we believe many of them will.
During the Showcase Demo, all participating start-ups presented their pitches and progress and demonstrated the MVPs to Start-Up Chile guests. 12 top performing start-ups, including Gringo, were selected to pitch in front of corporate partners, sponsors, media, investors and fellow entrepreneurs in the Pitch Finale.
— Y4PT Chile (@Y4PTcl) October 11, 2018
If the TSF programme was meant to be an experiment to prove the research findings, it did the job. Diversity, in terms of fields of expertise, culture, experience, age and sex enhance innovation. And TSF Generation 7 is the living proof.
And last but not least let's welcome @gringo_zone, a global ticketing app for mass transport. One payment solution for shared transport in all locations people travel to #SUPPitchFinale pic.twitter.com/0II3vSdH3A
— Start-Up Chile (@startupchile) October 11, 2018