In the world of venture capital, having a great idea is never enough. Access to the right networks, visibility to investors, and the opportunity to tell your own story are factors that can determine the success or failure of a startup. 

Historically, for women entrepreneurs in Latin America and the Caribbean, especially in the fields of science, technology, engineering, and mathematics (STEM), opening these doors has been a constant challenge. For example, in 2022, companies founded by women received only 0.6% of the $7.8 billion in venture capital in the region.

Although female participation in STEM fields has shown interesting increases over the last two decades, the challenge of accessing capital, networks, and mentoring continues to limit the ability to harness the immense potential and talent of our region. This was the main source of inspiration for IDB Lab to create the WeXchange initiative in 2013, which for more than a decade has been promoted and led by different IDB Lab teams committed to driving innovation and competitiveness in Latin America and the Caribbean. 

The diagnosis was clear: not only were there few companies with women participating in the industry, but in those cases where they did exist, women rarely held visible leadership roles. Their role was often limited to technical or administrative functions, far from the front line where negotiations with investors and strategic alliances are forged (a similar phenomenon occurred and continues to occur in VC funds themselves, where the representation of women in management teams and investment committees remains low).

A Strategic Approach to Promoting Female Entrepreneurship 

This lack of visibility and networks not only limited the growth of their companies but also perpetuated a cycle in which future generations of women lacked role models in the world of entrepreneurship. That is why we decided to rely on three strategic objectives of WeXchange: 

First: To empower women who were already part of a startup, either as founders or in leadership positions (C-Level), by giving them the tools and confidence to take on a more prominent role and be the ones to pitch to investors. 

Second: To make them visible role models so that they could inspire more women to become entrepreneurs. 

Third: Connect them with a network of investors, mentors, entrepreneurship support entities, and other female entrepreneurs to strengthen their projects and help them grow.

WeXchange Activities 

Initially, the initiative was conceived as an annual WeXchange Forum, soon to be joined by a pitch competition, which for many entrepreneurs was the first opportunity in their careers to present their project directly to a panel of investors. To this we add training and skills development components, strategies for raising capital, leadership, and, more recently, cutting-edge topics such as the application of artificial intelligence. 

The first editions of the annual Forum were held in person in different cities: Miami, Monterrey, Santiago, Lima, and Asuncion. During the pandemic, in 2020 and 2021, the Forum was held remotely, and starting in 2022, it was integrated into the agenda of IDB Lab's annual entrepreneurship, innovation, and investment event, currently called GET Forum.  These events, which are key to networking and knowledge sharing, have involved the participation of 700 mentors, and more than 50 VC funds have collaborated annually in the selection process. 

Key allies in the early days of WeXchange were the VC fund NXTP and the WeInvest network of women investors. Since then, we have added alliances and partners, such as the We-Fi initiative, which has been key to the sustainability of the initiative; AVP Ventures, which leads technical coordination; Amplifica Capital, which provides pitch practice sessions for participants; and dozens of outreach and communication partners that allow us to increase the reach of the call for applications.

To support the dissemination of best practices and the creation of a network of leading women entrepreneurs, we also produced two podcast series - ENTREPRENEURSHIP 101: FOR STEM ENTREPRENEURS and WeXchange Podcast - and a series of publications called wX Insights, which allow us to understand the evolution of STEM ventures led by women.

Our Impact: Improved Capabilities and High-level Investment Opportunities

During the twelve editions of WeXchange, we have supported more than 4,700 female entrepreneurs from over 30 countries, positioning ourselves as the leading regional platform that facilitates connections between women STEMpreneurs, mentors, investors, and key players in the ecosystem. 

"What inspires me most is that this visibility you are giving us allows us to accelerate the arrival of more sustainable products to the industry and the market, and to demonstrate that, with science and innovation, Latin America can also lead global solutions. An idea that emerged in a laboratory in Uruguay today can transform an entire industry." Eloísa Arrarte from Polymera (WeXchange 2025 finalist)
 

The results of our strategies have been tangible for our team and our partners: over time, entrepreneurs have begun to arrive at the platform better prepared, with more solid investment decks and very robust presentations. 

All of this is part of the initiative's working methodology, which seeks to attract the most promising candidates - from those seeking seed capital to Series B or planning to start an investment round in the short term - through a high evaluation criteria.  In addition to business viability, factors such as the potential for scale and the social or environmental impact of the venture are considered, and a balanced geographical and sectoral representation is actively sought.

This methodology benefits both the entrepreneurs, as we help them develop their skills, and the investors themselves, who are looking to diversify their portfolios: this is where they find first-rate investment opportunities.

"This selection validates our mission to reduce gaps in access to education and empower vulnerable communities, showing that we are being seen and valued. This recognition encourages us to continue dreaming big and to demonstrate that purposeful innovation transforms lives." Mónica Li from Musa. (WeXchange 2025 finalist)

 

WeXchange 2025 Edition

We recently announced the five winners of the WeXchange Women STEMpreneurs 2025 competition. The selected startups, from Peru, Uruguay, Argentina, Colombia, and Jamaica, are transforming the provision of products and services in sectors such as edtech, healthtech, fintech, and biotech. They will have the opportunity to present their solutions at the WeXchange Demo Day, which will take place in El Salvador as part of GET Forum.

By serving as a crucial bridge between female talent and investor capital, we have created a virtuous circle that benefits the entire innovation landscape. By raising profile, connecting, and empowering a generation of leaders, we have built a platform that cultivates talent, attracts funding, and fosters collaboration. At WeXchange, we are not only changing the lives of hundreds of women but also building an open and collaborative ecosystem of innovation and entrepreneurship. 

To learn more about the selected initiatives and entrepreneurs, register here for our GET Forum.