Female founders from across the West Midlands Combined Authority area are urged to apply for the Fortuna Fellowship, a first-of-its-kind accelerator which will see up to five female-led ventures potentially secure a share of £2 million investment. Founded by Birmingham-based venture capital firm Midven, in partnership with The 51% Club, the initiative is nurturing the next wave of high-growth female-led startups.
The initiative has been designed to find the region’s next superstar businesses. With £1 million from the West Midlands Co-Investment Fund*, which is managed by Midven, part of Future Planet Capital, already secured as part of the programme’s commitment to local female entrepreneurs.
Delivered in partnership with The 51% Club, a peer community to help the region’s female founders scale, and other key partners, the fellowship is open to any female-founded or female-led businesses in the early stages of development with a strong potential for growth, able to achieve £100k of revenue before the end of the programme.
The business must be based in the West Midlands Combined Authority area (Birmingham, Black Country and Coventry). Founders must have an innovative solution, a scalable business model, a compelling equity story, and some level of traction.
The programme is structured in four phases designed to comprehensively support female founders. Phase 1, “Who You Are As A Founder,” focuses on understanding individual skills, desires, personality traits, and founder psychology, including resilience. Phase 2, “Identifying Your Strategic Priorities,” matches founder personality to the business, identifies market opportunities, develops an Ambitious Growth Model, and pinpoints the ultimate strategic priority.
Phase 3, “The Building Blocks,” focuses on developing scaling skills, identifying team gaps and solutions, mentor matching, and financial modelling for investment needs. Finally, Phase 4, “Execution,” provides ongoing support through weekly “office hours,” monthly workshops and co-working days, and guidance on pitching and securing investment.
Rupert Lyle, Fund Principal for the West Midlands Co-Investment Fund at Midven, which is part of Future Planet Capital, comments: “The Fortuna Fellowship represents a unique opportunity for talented female founders to gain the support and resources they need. We encourage all eligible female founders to apply and take advantage of this programme designed to accelerate the growth of their businesses and help them reach their full potential. The Fortuna Fellowship is unlike anything previously offered in the region, and we’re keen to see the next generation of female-led businesses thrive.”
The programme is being delivered in partnership with The 51% Club, which launched last year to help female founders scale. Founder Tara Attfield-Tomes, who is also co-chair of The Lifted Project – a Treasury-backed initiative to increase the flow of capital to female-led businesses – adds: “The statistic that only 2% of VC funding goes to women has been a call to action for far too long, and I’m delighted to work with forward-thinking partners like Midven who are committed to making real change. We chose the name Fortuna, after the Roman goddess of fate, because securing investment shouldn’t be a matter of chance for women. Fortuna was also associated with abundance and the fruitfulness of women, reflecting the very innovation we aim to celebrate in female entrepreneurs
If you’re a woman founder ready to take your business to the next level, I urge you to apply to the Fortuna Fellowship. We’re looking for the next generation of groundbreaking female-led businesses, and we can’t wait to see what you bring. Join us in shifting the odds and building a more equitable future for female founders – apply today!”
Applications for The Fortuna Fellowship close at 11:59 pm on Sunday 9th February 2025. To apply visit https://the51percent.club/fortuna-fellowship/.
*The West Midlands Co-Investment Fund was launched by the West Midlands Combined Authority (WMCA) and the West Midlands Pension Fund in 2023 to help expand SMEs that offer high-growth potential and the ability to help supercharge the regional economy. Managed by Midven, part of Future Planet Capital, the fund provides innovative SMEs with equity of up to £1 million matched on a 1:1 basis by private co-investment.
