Founder Buddies aims to help bridge the gaps in the startup ecosphere. Female-founded startups exhibit impressive agility and are noted to take less time to exit than the overall market, but still get less funding. The COVID-19 pandemic had a disproportionate impact on female entrepreneurs compared to male founders and the overall US VC market. There are unique challenges that female founders face and we are here to face them together.
This article will highlight:
- What is the Founder Buddies cohort-based program?
- What inspired a Peer-to-Peer Program?
- How does Founder Buddies peer matching work?
- What are the results of Founder Buddies Cohort 1?
- What’s next for Founder Buddies?
What is the Founder Buddies cohort-based program?
The Founder Buddies cohort-based program is a four-month program where female entrepreneurs are matched each month to a buddy. These curated relationships are then fostered with agendas each week to build mutually beneficial relationships that allow for information sharing, support, and collaboration. This creates a supportive community of female entrepreneurs committed to mutual success.
Weekly meetings are 30-minutes, allowing them to fit in busy schedules and add value instead of being a distraction or time suck. Entrepreneurs are connected with the right peers at the right time, encouraging valuable exchanges that enhance their entrepreneurial journey and build meaningful connections.
What inspired a Peer-to-Peer Program?
The inspiration for Founder Buddies came from a research project that Amanda Fornal did while getting her Coaching Certification. She asked “How can we help more female tech founders succeed?”. For this she interviewed and surveyed female tech founders to understand three basic topics:
- Why do startups typically fail?
- Where are women today in the startup ecosystem?
- What can help more women succeed as tech founders?
Two key items discussed were funding and sales skills. To support these, Amanda and Leander created two free tools:
- Pitch Practice: Pitch Practice is a tool that helps entrepreneurs practice their pitches and are prompted with randomized questions about their idea.
- Sell This: Sell This is an improv generator designed to help people think quickly and work on their selling skills.
Outside of these two expected topics, often women wanted to know how they can help each other. The entrepreneur journey is a rollercoaster of ups and downs and having people who understand and care can change everything. Studies show that when women have females in their support network, they are more successful.
How does Founder Buddies peer matching work?
Peer matching within Founder Buddies is a crucial component of the program. When applying, participants provide essential information about themselves and their companies, which forms the foundation for the matching process. Topics of interest chosen by participants further enhance the matching experience. These details, combined with preferences expressed by each participant, guide us in ensuring meaningful and relevant connections are made each month.
What are the results of Founder Buddies Cohort 1?
Starting in January 2024, Founder Buddies Cohort 1 brought together ambitious female entrepreneurs from over 35 countries for a transformative four-month journey. Each month they were matched with a new buddy and in just 30 minutes a week, they engaged in meaningful one-to-one meetings tailored by weekly agendas.
The feedback was overwhelmingly positive. A few example notes from participants:
-
Month 1:
- "I loved my buddy! We will stay in touch."
- "I learned a lot and feel less alone as an entrepreneur."
- "I love it, we exchanged on common areas and gave valuable feedback."
- "Awesome women in this program."
-
Month 2
- "I participated in several such programs over the years and I must say that this one is really well thought through and really well planned."
- "We are going to continue our relationship and support each other's work through alliances and building collaborations. Thank you Amanda!"
- "We agreed to stay in touch and continue to support one another with our startups."
- "I am enjoying very much in general the program and have learned lots from my first two matches. I think, and hope, we will keep being friends!"
-
Month 3
- "I love this match so much! We had a lot to talk about and are already helping each other with shared resources."
- "It was a pure joy to connect with my buddy. She is a great person to learn from and get feedback from."
- "We are pushing each other to accomplish our goals."
- "Another excellent match."
-
Month 4
- "My match is great and so knowledgeable and smart and kind."
- "I am really sad that this program is over - I had great matches, fantastic support, excellent exchange!"
- "My match is super nice and we're going to keep in touch."
- "Thank you for letting me be part of this cohort, I really enjoyed it and excited to hear what’s next."
What’s Next for Founder Buddies?
Founder Buddies creates specialized programs for female entrepreneurs, connecting like-minded women who are eager to learn, grow, and succeed together.
- Founder Buddies Power Pod: Engage with a supportive community network designed to propel your entrepreneurial growth. This peer advisory group focuses on goal setting and overcoming challenges and blockers.
- Founder Buddies for Universities: Participate in our pioneering pilot program designed to boost university entrepreneurial initiatives.
- Founder Buddies for Organizations: Collaborate with us to launch a customized a peer-to-peer connection program tailored to enhance innovation and internal growth.