Foundry Group, Techstars and Others Launch Women in STEM Scholarship

June 28, 2017

9:20 am

It’s hard to argue that diversity in tech isn’t a pressing issue. After all, there are more than enough problems arising at Uber and plenty of problematic statistics when it comes to women in tech. The issue is made even more infuriating when you realize that study after study has shown than the more women in your workforce, the better your company will do. Fortunately, a few notable tech organizations are doing something about it.

Foundry Group, Techstars, Cooley, Yesware, Help Scout, Cloudability, Kulesa Faul, FullContact Anchor Point Fund, and Distil Networks have joined forces to launch an annual program that awards a number of $3,000 scholarships to women undergraduate and graduate students pursuing a career in science, technology, engineering, or mathematics (STEM). Dubbed the Women Forward in Technology Scholarship Program, the partnering companies aim to promote a professional environment that represents the people of America.

“I’ve been working with startup technology companies for over 30 years and have only seen a minimal increase in female entrepreneurs during this time,” said Brad Feld, cofounder of Foundry Group, in a press release. “In fact, only three percent of America’s venture capital-backed startups are led by women. Increasing diversity in the workforce has been a passion of mine for years, joining many organizations to further the advancement of women including my work with the National Center for Women and Technology. I am proud to partner with like-minded, progressive companies like Distil to bring attention to and support such an important initiative. We hope others will join us!”

While this problem is pressing, female entrepreneurs have been making an impact. In fact, women-led startups who receive funding have a 35 percent higher return on investment and generate 12 percent higher revenue than their male counterparts. And if that statistic doesn’t get you on the side of women in tech, what will?

“In my personal experience, I’ve found diverse teams make better products, build stronger work cultures and power great businesses,” said Nick Francis, CEO of Help Scout. “As a company, we’re committed not only to strong diversity and inclusion goals, but also to broadening the talent pool through the support of outstanding organizations. That’s why we’re honored to sponsor the Women Forward in Technology Scholarship Program and its commitment to this effort.”

To apply, make sure to visit their website today. They require a 1,000-word essay, a present educational transcripts and a letter of recommendation.

Read more about diversity in tech on Tech.Co

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Conor is a writer, comedian and world-renowned sweetheart. As the Senior Writer at Tech.Co, he’s written about everything from Kickstarter campaigns and budding startups to tech titans and innovative technologies. His background in stand-up comedy made him the perfect person to host Startup Night at SXSW and the Funding Q&A at Innovate! and Celebrate, posing questions to notable tech minds from around the world. In his spare time, he thinks about how to properly pronounce the word “colloquially.”

Conor is the Senior Writer at Tech.Co. You can email him at [email protected].

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