Blue-chip enterprise capital agency Sequoia India and Southeast Asia has launched the second cohort of its Sequoia Spark Fellowship, a $100,000 equity-free grant and mentorship program to encourage extra girls to turn out to be entrepreneurs.

The second batch includes 12 feminine founders who want to clear up issues throughout sectors and industries, together with local weather tech, health-tech, Software-as-a-Service (SaaS), Web 3.0, shopper web and direct-to-consumer (D2C) manufacturers, it stated in a press release.

Eight of the 12 founders are from India and 4 from Southeast Asia.

Some of the Indian corporations embrace Zerocircle, which helps manufacturers exchange single-use plastics; Hoop, a wellness platform for younger Indians; and Plodo, which helps digital-first manufacturers launch operations in India.

According to Sequoia India, the primary batch of Spark, which comprised a cohort of 15 corporations and 20 feminine founders have gone on to lift follow-on institutional funding totalling $51 million after the programme. This additionally consists of one exit, which was acquired by Wipro.

“We are thrilled about the success of the first cohort and incredibly excited about the potential of the Spark 02 founders. The Sequoia Spark fellowship program is born out of the desire and commitment to increase the number of female founders in the region and play a role in enabling the early stages of their journey, especially when access is such a challenge,” stated Sakshi Chopra, managing director, Sequoia India.

During the programme, Spark founders are additionally offered one-on-one mentorship with Sequoia’s portfolio founders and from a senior Sequoia India and Southeast Asia funding advisor. Over the previous years, enterprise capital companies have launched initiatives to assist girls entrepreneurs scale up.

In 2021, home enterprise fund Kalaari Capital launched CXXO, the place it put aside $10 million (Rs 74 crore) yearly to put money into startups which have girls founders as key resolution makers.

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