We spoke with Endeavor Mexico’s team about their efforts within the entrepreneurial ecosystem to continue promoting the development of women in business and entrepreneurship.
According to figures from Endeavor Mexico, among the active companies in their Latin American network, over 120 women hold leadership positions in those companies. As part of their efforts to open the conversation about diversity and to encourage more women within their network companies, Endeavor created an initiative called EndeavALL. They also promote mixed-gender teams of co-founders and female panelists evaluating startups that apply for their selection process.
We believe that selection should go hand in hand with talent, abilities, career, and the desire to create a multiplier effect to inspire future generations.Endeavor Mexico
However, there is still a lot of work to be done. In their latest study, “Venture Capital and Growth Equity Panorama in LATAM 2022,” Endeavor highlights a trend that investment in female teams has remained at low levels over the years. Less than 1% of entrepreneurs who received capital were women-led teams. Capital for mixed-gender teams decreased by 9% YoY.
In response, Endeavor indicates that various perspectives and actions must be integrated within companies to effectively promote inclusion and greater participation of women in the business and tech fields. In this process, key points to consider include:
- Creating actions to increase the number of women in leadership positions.
- Analyzing metrics such as socioeconomic data, education, work experience, and place of residence to promote strategies that help more women find opportunities for participation.
- Establishing mentorship groups focused on women to address the challenges and opportunities available within the entrepreneurial ecosystem.
- Increasing capital invested in companies founded by women or with women in the founding team.
Endeavor has implemented various strategies to promote the inclusion of women in companies and technology entrepreneurship, including the EndeavALL initiative. They are committed to reinforcing their mission to change Mexico by promoting an inclusive, equitable, and diverse entrepreneurship environment where the person comes first, along with their #TeamCrazy philosophy. For Endeavor, diversity, and inclusion encompass the opening of opportunities regardless of where an entrepreneurial person is located in Mexico, their education, gender, or sexual orientation.
EndeavALL stems from the belief that the world is full of possibilities and opportunities, and that there are no barriers to contributing knowledge and sharing experiences with the world. In that sense, Endeavor recognizes, values, and promotes diversity because the greater the diversity of voices collaborating, the greater the transformation, social impact, and success.
In March, Endeavor launched its EndeavALL Talks: Female Founders Edition in Puebla, Guadalajara, Monterrey, CDMX, and Mérida, focused on generating conversations about how mental health, entrepreneurial capital, and technology impact “female founders” in their task of promoting high-impact companies.
In their community, Endeavor started its DEI Committee, consisting of four subcommittees: Geography, Education, Gender, and LGBTQ+. Through these subcommittees, they open conversations and listen to their #TeamCrazy about how the Endeavor community can encourage more actions for their tribe and expand them outward to the entrepreneurial ecosystem.
Regarding recommendations that we can all implement to encourage more women to join the business and technology world, Endeavor shares what they have learned through EndeavALL Talks and emphasizes the importance of developing personal and collaborative initiatives to achieve this important goal:
- Support and accompaniment among women are one of the best platforms to promote the breaking of the gender gap in entrepreneurship, but it is also important to encourage this support from those who hold leadership positions throughout the company.
- Promoting more women to apply for STEM careers, encouraging mentoring of new generations, investing in new projects, or creating niche funds.
- There is no better way to promote diversity and inclusion than to be examples of it within each company, both in recruitment areas and among colleagues, and in everyday life. DEI Committees are a learning and teaching tool for the team, for creating manuals and new policies that help expand diversity in teams.
- The basis of success and innovation is diversity. And to achieve this diversity, it is essential to understand the existing gaps, know the biases and break them. Just as it is important to always keep a gender perspective in everything that is carried out within a company or entrepreneurship.
Creating more diverse and inclusive spaces requires daily work and commitment that allows for the creation of spaces where barriers are eliminated, so that women can fully develop, both in workspaces and in the entrepreneurial ecosystem. Joining these and other initiatives is key to achieving this goal.