Propser Accelerator to Focus Solely on Women-Led Startups

Will Schmidt

The St. Louis Business Journal today reported on a new accelerator opening in the Gateway city. Prosper is launching a startup accelerator that will funnel $600,000 annually into St. Louis area companies.

That in and of itself doesn’t make them ground breaking. What does, however, is that Prosper will be focusing solely on funding women-led companies.

Led by Jennifer Ehlen – founder and CEO – Prosper will split into two separate divisions, the first of which will be a nonprofit organization, The Prosper Institute. The second entity will be for-profit, Prosper Capital, and will oversee the Prosper angel investor network as well as the accelerator.

Once again we’ll see the St. Louis based Cultivation Capital getting in on the action as well. They’ll provide office support while Maxine Clark, Build-A-Bear founder, and Mary Jo Gorman serve as managing partners.

The current estimates indicate that Prosper may invest up to $375,000 in their first year and around $1.25 million annually as they move forward.

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Will is a Senior Writer with Tech.Co, based out of America's Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He's the resident Android junkie and will be happy to tell you why you should switch to the OS. When he's off the clock, Will focuses his literary talent on the art of creative writing...or you might find him surfing in Ocean Beach. Follow Will on Twitter @WJS1988