Microsoft Asia has partnered with Asia-based women focus firm She Loves Tech to unlock $1 billion in capital for women-led businesses by 2030.
Microsoft said in a statement on Friday that the partnership will see Microsoft support an Azure-powered digital platform to facilitate connections at scale between women entrepreneurs, venture capitalists, and angel investors from around the world.
Startups in the She Loves Tech community will also get access to Microsoft technology, dedicated programs, learning resources, and a global ecosystem with deep technical expertise to support Asia-based women entrepreneurs’ ambitions to scale businesses from idea to unicorn, according to the statement.
Cited “Women in Startups: The Southeast Asia Edition” report, Microsoft said, start-ups in Southeast Asia that have exclusively women founders garnered only 0.9 percent of total capital raised in the region.
Thus, it said the partnership aims to reduce the barriers women-led startups face in bringing their innovations to market.
She Loves Tech startups will also have access to Microsoft’s trusted cloud environment, cutting-edge technology tools, and security solutions to pilot born-in-the-cloud innovations and scale from idea to unicorn. This includes Microsoft Azure and cloud technologies including Azure credits, coding tools, access to GitHub, artificial intelligence (AI) and analytic tools, and Microsoft productivity tools.
This will be complemented with access to a global ecosystem of industry experts, deep technical and co-selling expertise for faster go-to-market, and a community for mentoring, skilling, and funding.
According to Microsoft, the goal is to ensure that founders are supported with resources for accelerating product development, hitting their targets through fundraising, and scaling know-how.
“Asian innovation is disrupting the world. Women will play an integral role in Asia’s next phase of growth. We believe that inclusion and true gender parity can only be achieved through collaboration with the industry at large. Organizations like She Loves Tech are critical to creating access and inspire women to become part of the tech industry. We know everyone wins when women are included,” said Ahmed Mazhari, President of Microsoft Asia.
He also said, the group is committed to being part of the solution to reduce the barriers women entrepreneurs face in achieving their ambitions.
“This also reflects our own commitments in how we infuse diversity and inclusion into our business. We are also reinvigorating how we engage with startups in Asia to support them on their journey from idea to unicorn. Ultimately, our ambition is to empower Asia as an engine of innovation for the world,” he said.
Meanwhile, She Loves Tech Co-Founder Leanne Robers said, by helping over 10,000 women entrepreneurs gain access to funding, a global network, and support from other women founders from around the world, she hopes their success will indirectly contribute towards creating 100,000 jobs across local economies in Asia.
“We can only do this if we are maximizing all the levers to drive growth and opportunities for Asia’s women founders who are powering the next generation of technology and innovation. As we accelerate towards a digital economy, these levers include capital, community, technology, mentors, ambassadors, and industry partners. We recognize Microsoft as a trusted technology partner with an aligned long-term vision to support women founders. Together, we can make a truly lasting, positive impact for future generations of women entrepreneurs,” she added.
As an acceleration and community platform for women in technology, She Loves Tech holds an annual global startup competition across 50 countries designed for early-stage, female-founded startups seeking seed, angel, or A-round funding with a minimum viable product that is past conceptual stage. Specifically, the focus is on products that have a positive impact on women. To date, startups have raised more than $250 million post-competition.