An accelerator designed to advance female-led innovation in the West Midlands has announced its inaugural cohort of five founders.聽
The Fortuna Fellowship represents the region’s most promising start-ups and chosen entrepreneurs will now embark on a 12-month programme with the chance to pitch for a share of 拢2m investment.
The five businesses selected for the Fortuna Fellowship are:
Cubbi, a money-saving app for new parents
Find Me A Solicitor, a free legal service that connects people to a lawyer for personal or business needs
MyBliss, a sexual wellness brand with products designed for women’s bodies
Visionary Farms, a sustainable indoor farming system for businesses and consumers
Homewrecker, the UK’s first and only pimento cheese brand
These businesses have been chosen for their significant growth potential, following a rigorous application and pitching process. Through the Fellowship, they will receive comprehensive support and mentorship, as well as the opportunity to secure equity investment to accelerate their growth.
With only 1.8% of VC investment going to female-led businesses, the accelerator has been created by The 51% Club (in partnership with venture capital firm Midven, part of Future Planet Capital) to increase the flow of capital to the region’s female entrepreneurs.聽
Midven is one of the region’s leading investors and manages the West Midlands Co-Investment Fund (WMCO), which has contributed 拢1 million to the programme鈥檚 investment total.
The WMCO, a 拢25m fund launched by the West Midlands Combined Authority (WMCA) in partnership with the West Midlands Pension Fund and managed by Midven, provides equity of up to 拢1m to high-growth SMEs in the WMCA area, matched on a 1:1 basis by private co-investment.
鈥淭his impressive line-up of West Midlands female entrepreneurs has the drive and creative spark to create the innovative companies of tomorrow,鈥� said Richard Parker, Mayor of the West Midlands and chair of the WMCA.
鈥淭hat’s why we are looking to invest in them. Backing small businesses in this way, especially start-ups, is a cornerstone of my growth plan to deliver the jobs and prosperity that will benefit all our communities.鈥�
Rupert Lyle, fund principal for the West Midlands co-investment fund at Midven, added: 鈥淥ur aim was to find founders with that spark of ‘onlyness’ – businesses with a unique edge.鈥�
鈥淲hat’s equally vital is their willingness to absorb knowledge and adapt. The Fortune Fellowship will take them on a structured journey equipping them with the tools and expertise to not only attract investment but to scale and thrive.鈥�
Tara Attfield-Tomes, founder of The 51% Club, continued: 鈥淭his programme is a game-changer. We’re not holding back; we want to create what Y Combinator has become to the worldwide startup community but focused on female-led innovation.聽
鈥淚’m excited to continue building The Fortuna Fellowship alongside Midven and the key partners we’re bringing on board. Most importantly, I can’t wait to see just how far we can help these incredible women to go!鈥�