Surrey Research Park, UK
“Surrey Women's Entrepreneurship Network”
A network that supports women entrepreneurs by enhancing access to funding, providing investor-readiness training, and fostering mentorship and allyship. Since November 2023, SWEN has grown to 152 members, organised successful events, and connected women with investors and mentors, driving gender equity in innovation.
Purpose of the solution
Responding to the evident need in our ecosystem for more representation of women, Surrey Women's Entrepreneurship Network (SWEN) aims to bring together entrepreneurial women to encourage them to reach their business potential. Specific purposes are to grow the number of women investors in the SWEN network as we know women invest in women, and to provide investor-readiness training in many forms to the entrepreneurial women of SWEN so as to bring these women closer to opportunities for investment.
Women receive less than 2% of equity funding, far less when there are other intersectionalities, so this solution is to raise women up, empower them, build their skills and then open opportunities and networks to allow them to join the science park space. It enables women to access a range of funding opportunities by offering free innovation grant funding workshops, philanthropically funded investor-readiness training and opportunities to pitch to both Surrey Research Park's own angel network and external venture capital firms its engaged with. Surrey Research Park is committed to raising the profile of the SWEN for the benefit of women and the girls who follow them, to show it is at the forefront addressing gender equity to increase representation of women in areas of innovation.
Impact
SWEN has grown its membership from 0 in November last year to officially 152 members. The LinkedIn group is also active and vibrant, with wider participation including more male supporters. The launch event attracted 140 registrants within a few weeks' advertising and had a number of positive outcomes beyond the incredible atmosphere on the day. One woman entrepreneur was introduced to a panellist and VC investor who is now going through the process to invest in her deeptech company; 10 women were matched on a mentoring platform and continue to meet, questionnaires at the event informed the SWEN strategy to develop Masterminds, now underway for 29 women, including 4 women facilitators who are experts from within the network. A further 10 are already signed up for the next cohort starting June. News is spreading fast and momentum is growing.
SWEN has been contacted by a VC firm looking to collaborate, an investor-readiness community offering free programmes and the University requesting an event takeover by the network's women on "equality in the workplace". Eight new women investors have been introduced to Surrey Research Park's angel network through SWEN and a research bid is underway on community development. Tens of other side projects are burgeoning.
What is innovative about it?
SWEN has no strict physical boundary. ITs programmes are free, to encourage more participation, and flexible to meet women's needs around any family commitments. Men are also encouraged to join as allies. The approach is bottom up, encouraging women from as early-stage as possible to engage with the network for support, encouragement and upskilling. SWEN believes that investor-readiness starts before formal workshops, and being "ready" as a woman includes feeling invited, seeing women represented in the room and having the understanding of a community around you to help balance work-life pressures that are often so much greater for women.
Activity is also run for and by women themselves, leveraging the power of the group, and the belief is that everyone has something to offer the community. Innovatively SWEN encourages all women to offer their expertise for the greater good, with a view that by giving you will receive. The network has grown from nothing, with zero funding and no institutional support to be a thriving and dynamic community that is attracting attention from major players including a global VC firm and renowned philanthropists in the UK.
Who are the main users?
SWEN women come from the university ecosystem, local community and wider innovation district. There are a mix of young undergraduate students, mature and postgraduate students including PGRs, some entrepreneurial university staff and women from its incubated startups, tenant company leaders and those from the wider community and even some internationals.
Who runs it?
The network is run by women for women, with the co-ordination led by Head of Engagement at Surrey Research Park, Kat Mack. Senior leadership support includes Caroline Fleming, Director of Surrey Innovation District and a voluntary steering group of 12. SWEN encourages community-led activity and facilitation internally too.