Women-led private technology companies are more capital efficient than male-owned businesses, achieving 35% higher returns on investment. And, when venture-backed, bring in 12% higher revenue. But, despite the compelling data, in the fourth quarter of 2019, only 2.8% of of US venture capital investment went to women according to PitchBook.

The simple fact is, investing in women is one of the most effective ways to reduce inequality and increase economic growth. To leverage this, local startup accelerator FourthWave is getting ready to launch its second cohort this summer. The women-focused accelerator is partnering in 2020 with The Carlsen Center at Sacramento State and  teaming up with with local government and private sector organizations, including StartupSac, to foster leadership skills and smart business foundations for women-led businesses.

The FourthWave 2020 Accelerator Program is a 16-week, application-based program that aims to accomplish the following:

  • Provide businesswomen with mentors and capital that will allow their companies to grow.
  • Address common challenges faced by female business owners, including a lack of mentorship, access to capital, and startup fundamentals.
  • Offer innovative curriculum designed to facilitate entrepreneurs’ growth as impactful, conscious leaders.
  • Award Women’s Innovation Fellowships to two Sac State students.

The 2020 program, which will run from July through November, will include 10 companies. The FourthWave program integrates two critical arenas: business and leadership. Over the course of 16 weeks, each entrepreneur in the program will receive 1:1 coaching, participate in immersive workshops, learn best business practices and build invaluable relationships.

“FourthWave is committed to changing the narrative around gender equity, and we believe a core part of the story is seen through an economic lens,” said Nancy Perlman, FourthWave founder. “We know that investing in women is one of the most effective ways to reduce inequality and increase economic growth.”

In addition, the Carlsen Center is giving two Sacramento State students a chance to participate by offering Women’s Innovation Fellowships. The students will work with FourthWave to connect with successful female business founders, get firsthand experience with startup companies, and build on their leadership skills.

FourthWave is accepting applications now through June 30. The 2020 program will begin virtually and incorporate face-to-face interactions as possible. The 16-week program is scheduled to begin July 23, 2020, and conclude with an event at the Carlsen Center during Global Entrepreneurship Week, Nov. 16 – 22, 2020.

The first cohort of participating companies, in 2017, raised more than $10 million in funding.

Find out more and apply today on the FourthWave website.