Aurora Tech Award set to support female tech founders with $30,000

Annually, female tech founders are recognized globally with the Aurora Tech Award, a programme committed to advancing equity and dismantling barriers in tech entrepreneurship.

The Aurora Tech Award has opened applications for its 2024 edition, specifically tailored for female founders of tech startups, regardless of industry, who have developed a working prototype or early version of their product.

A report by Crunchbase revealed that 2.3% of venture capital funding goes to companies run by women. In this regard, the Aurora Tech Award aims to find underappreciated female-led enterprises, giving them the required resources to succeed.

Benefits

The programme presents the following benefits:

Company expansion with financial rewards to winners: the first prize winner gets $30,000, the second place, $20,000, while the third prize receives $10,000
Contact with a global network of women tech entrepreneurs
Increase brand awareness by supporting the finalists’ PR efforts to draw in new partners, investors, and audiences
Get insightful criticism from jury members and venture capital experts to strengthen your startup
A finalist mentorship program will provide you with advice from inDrive’s C-level executives and industry specialists
Gain recognition in the startup industry and broaden your network

Eligibility

To be eligible for the Aurora Tech Award, make sure you fulfil these requirements:

The startup must be headed and launched by a woman entrepreneur, either as the sole founder or co-founder.
Up until the seed phase, the firm shouldn’t have gotten capital of more than $4 million.
The startup must be older than five years.
The startup should have a working prototype of its Minimum Viable Product (MVP). Your application will not be reviewed if it is only an idea.

The venture capital funds of Aurora Tech Award partners will assess the following factors:

Personal

Leadership skills: Your capacity will be evaluated for strategic decision-making, team inspiration, and leadership.
Overcoming personal obstacles: Being aware of your difficulties as an entrepreneur and how you resolved them.

Startup

Potential market size: Analyzing your target market’s size and room for expansion.
Scalability: Evaluating how well your business plan can grow in size.
Profit generation(unit economics): Examining your capacity to turn a profit.
Unique competitive advantage: Assessing what makes your startup stand out from the competition.
Product-market fit: Evaluation of how well your product satisfies market demand.
Go-to-market strategy: Examining your approach for breaking into the market successfully.
Team potential: Assessing the level of experience of your teammates.
Take into account the good social impact that your startup is making.