SoarTriangle addresses the proven funding gap facing female entrepreneurs starting scalable businesses in North Carolina through methods of mentorship and advocacy.

Securing funding outside of the major entrepreneurial hubs is challenging for all founders, but more acute for women. The data show that while women founders launch 20% of start-ups, they receive only 3% of venture funding awards and 9% of seed funding ones.

 

About SoarTriangle

SoarTriangle attempts to address this funding gap with concrete actions that will support promising female entrepreneurs.

According to the Kauffman Foundation, there are three primary reasons for this funding disparity:

  • Women tend to be in industries that are less growth oriented, less attractive to bigger equity investors such as retail and service.
  • Women tend not to have formal social network access into substantial sources of financial capital, and are therefore less likely to seek/obtain equity investment from angels/VCs.
  • The predominance of male decision makers at the VC firms leads to a situation where ideas may not resonate with these equity investors

And yet, evidence is building that women’s involvement makes for a better outcome in the start-up space:

Venture capital firms that invest in women-led companies outperform those that don’t, according to the Small Business Administration Office of Advocacy.

Venture-backed companies that include more women on their senior management teams are more likely to succeed than companies with men-only teams, according to Dow Jones research.

There are more and more organizations tapping into the opportunity to focus on female entrepreneurs. Their efforts will be an important factor in closing the funding gap and helping more female-led startups to succeed.

SoarTriangle wants to be part of this movement to increase awareness and help high-potential female-led businesses succeed.

Click here to learn more about our SoarTriangle companies.

History of SoarTriangle

SoarTriangle launched in 2014 as a part of Google’s #40Forward initiative. This initiative provided a total of $1M to partner organizations who planned and executed programs to increase the representation of women in their start-up communities.

In August 2016, SoarTriangle became a program administered by NC IDEA Foundation. NC IDEA is a private foundation committed to supporting business innovation and economic advancement in North Carolina. The organization serves as a catalyst for young, high-growth technology companies by promoting initiatives that foster growth and guides these companies to become major contributors to the state’s business community. Read about SoarTriangle’s integration with NC IDEA here (link to press release).

Joining SoarTriangle

SoarTriangle accepts approximately 10 companies a year into its 6-month program in two different cycles. Typically, bi-annual applications will open in February and again in September. SoarTriangles evaluation process is very competitive.

Application Coming Soon