Society

WeWork to allocate US$5 million in flexible workspaces for female-led startups

The partnership with SoftBank will provide workspaces and offer mentoring to startups in Latin America and the US

London, United Kingdom - September 21, 2019: A view of the Wework co-sharing office spaces on Bishopsgate street In London
Photo: Michel Mond/ Shutterstock
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  • WeWork and SoftBank announced today the launch of Women for Tomorrow, an initiative to support the growth of startups led or founded by women in Latin America and the US;
  • WeWork and SoftBank will provide US$5 million worth of free workspace and mentorship for a year in the US and Latin America.
  • The initiative plans to support more than 60 startups. In Brazil, the program should select 10 companies. Registration is open until April 1st.

Shared workspaces company WeWork announced on Monday that is launching a program to support the growth of startups led or founded by women in Latin America and the United States. The initiative, called Women for Tomorrow, is a partnership with SoftBank.

The proptech said it would assign the equivalent of US$ 5 million in flexible workspaces in Latin America and the US to receive the selected companies in its offices for one year, free of charge. SoftBank and WeWork will also conduct mentoring sessions with the participants.

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“We are honored to launch Women for Tomorrow, alongside WeWork, to support the representation of Latin American women in the workforce after the pandemic,” Marcelo Claure, CEO at the SoftBank Group International and executive chairman at WeWork, points out.

“By addressing both the Latin American region and under-represented women of color, this initiative combines many of the objectives that SoftBank strives to achieve. As an immigrant from Bolivia, as well as a father of five daughters, I hope to reach a positive impact among women in the region, contributing to significant and sustainable changes both in Latin America and around the world in the years to come.”

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The initiative expects to support over 60 startups led or founded by women in the region. In Brazil, the program will pick 10 companies. Registration is open until April 1st.

In 2020, 11 Brazilian startups were selected by WeWork and now occupy the company’s offices free of charge. The initiative was aimed at boosting black entrepreneurship, WeWork reported.

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