IWA has joined forces with SNIB to develop the IW AccelerateHER Fund concept and plans through 2022, with the initiative providing funding to support the growth of women-led Scottish businesses, unlocking entrepreneurial potential and supporting the recommendations of the Mark Review. Scottish Tech Logan. ecosystem.
The angel investment group added that founder Jackie Waring will lead the steering group to develop the IW AccelerateHER Fund while continuing to be an active angel investor.
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Meanwhile, IWA director and former investment banker Evelyn Simpson will replace Ms Waring as managing director of the organization’s angel group and will also join the team in building the new fund.
Ms Waring said: “This is an incredibly exciting time for [IWA] with the new IW AccelerateHER Fund marking a huge step forward in the level of support we can provide to women founders in Scotland.
“Through the excellent partnership we have forged with the [SNIB], and working alongside other key partners including Scottish Enterprise, Highlands & Islands Enterprise, South of Scotland Enterprise and the Scottish Government, the new fund will aim to move the dial to a higher setting to increase access and opportunities for women-led businesses, drive greater economic growth.
SNIB CEO Eilidh Mactaggart applauded the partnership with Investing Women to support the development of the new fund aimed at helping women entrepreneurs across Scotland. “Addressing inequality and improving access to finance for those who are often underrepresented, including women entrepreneurs, is key to both the Bank’s mission and its mandate to promote equality, diversity and inclusion in the economy. Scottish with its investment”, he added. .
“The fund will complement support for women entrepreneurs from AccelerateHER’s existing partners, as well as networks of angels and other gender-focused investors.”
Ms. Waring also welcomed Ms. Simpson to take on the new position to lead the IWA. “Since joining our board in 2017, she has been a source of energy and wise counsel, and is ideally positioned to lead our angel group’s growth plans going forward,” he said.
Ms Simpson also commented: “It has been a privilege to be on the IWA board for the last five years, where we have made a real difference in supporting women-led businesses in Scotland and beyond. In my new role, I look forward to working closely with Jackie and our members as we build on our strong foundation and elevate our impact on the funding landscape for women founders.”
IWA says that since its first investment in 2015, in life sciences firm TC Biopharm, its members have invested more than £2.1 million in 22 companies, with more than 90 per cent of the funds going to companies founded by women.
The group’s sister company, AccelerateHER, has also been supporting female founders since 2015, connecting female entrepreneurs with business angels and with initiatives including trade missions and the AccelerateHER Awards.
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George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.