Deadline:
October 31, 2024
Location(s)
Online
Overview
The Vital Voices GROW Fellowship is a leading global accelerator program for women owners of small and medium-sized businesses that are making a social impact. Going into the 8th year, this program aims to elevate women business leaders as drivers for economic growth and social change in their communities, countries and the world by helping them grow their businesses and expand their social impact.
Details
Today, there are an estimated 12 million women-owned small and-medium sized businesses around the world, and 7 million of those businesses are in developing countries. Globally, small and medium-sized enterprises (SMEs) represent 45% of full time employment and more than 70% job creation in low- and middle-income countries. But women business owners face disproportionate challenges in accessing the services and support needed to grow their businesses, including financial services, business training, networks and access to markets.
At Vital Voices, we believe that women-owned businesses are a powerful force for inclusive growth and prosperity. By supporting women at the helm of SMEs and businesses, the VV GROW Fellowship helps women create jobs, catalyze economic growth and drive social change around the world.
VV GROW offers customized business skills training, leadership development, technical assistance, and access to networks. Through online trainings, fellows focus on strategy and long-term business value, and put those concepts to work by building action-oriented strategic plans to grow their businesses.
With VV GROW, Fellows gain knowledge and skills in strategic planning, financial management, marketing, sales, strategic networking, leadership, human resources and communications. Fellows receive valuable technical assistance and become part of a supportive global network of women leaders across the Vital Voices global network.
What does the fellowship include?
- Virtual Learning: Through a series of webinars, assignments, one-on-one and small group calls, fellows learn about core topics and assess their businesses in order to develop and implement a strategic plan for growth. Throughout the 12 months of virtual learning, fellows gain skills and knowledge to strengthen business operations, identify and prepare for opportunities for growth and successfully achieve long-term sustainable growth.
- Virtual Convening: Fellows participate in online sessions focused on select topics including leadership and personal development. Through dynamic interactive sessions, fellows connect virtually with each other, program partners, guest speakers, Vital Voices trainers and staff, thereby also strengthening their Vital Voices global network.
- Growth Services and Support: During the year, fellows learn about various topics and resources that are critical to achieving their business growth goals. They are connected to opportunities and individualized growth services and support provided by Vital Voices and our partners.
What results have you seen?
- Growth in Sales + Job Creation: Sales growth has accelerated for our fellows since their participation in the program. Past cohorts of the program had on average up to 43% increase in their sales after going through the fellowship.
- Improved Business Management: 100% of fellows made changes to their business to improve productivity as a result of their participation in the program. The changes most commonly cited include developing new products, implementing a strategic growth plan, improving quality controls, upgrading capital equipment and opening a new store, office, production or warehouse facility.
- Networking for Business Growth: 81% of fellows used at least one new connection to grow their business (useful business advice; access to other business contacts; professional services and encouragement)
- Multiplier Effect: The women that we worked with not only lead successful growing businesses but also believe in mentoring and giving back to others in their communities and beyond. To date, program fellows have reached over 400,000 people in their communities. They mentored more than 7,500 people, trained over 36,000 and have reached over 385,000 people through speeches or presentations on women’s empowerment.
What are the program expectations and what do fellows commit to as part of their participation?
- Dedicate 2-7 hours per week (January - October 2025) for webinars, homework assignments and phone calls
- Attend the entire virtual leadership convening 2025 (date TBD)
- Submit surveys and participate in phone calls with Vital Voices
Opportunity is About
Eligibility
Candidates should be from:
Description of Ideal Candidate
Who can apply?
Women entrepreneurs or social entrepreneurs who:
- Own a qualifying business that...
- Have been operating this business for at least 3 years
- Employs at least 1 full time staff (this can include the applicant)
- Generates at least US $40,000 in annual sales
- Are proficient in spoken and written English
- Have demonstrated leadership, key decision making authority within their business and manage the business on an ongoing basis
- Have a commitment toward making positive social impact and an interest in expanding their social impact
- If you are involved in more than one business, the above criteria must apply to the business that you would like to focus on during the fellowship
Interested applicants:
- Are enthusiastic about participating in a one-year business accelerator program
- Are motivated to learn new skills and make changes to grow their business
- Have the authority to make critical decisions in their business
- Are willing to commit to working with Vital Voices to track their business growth during the program and up to 3 years afterwards by being responsive and participating in data collection activities including online surveys and phone calls
- Are interested in collaborating and supporting the other women in their cohort
Can non-profits apply?
- The VV GROW Fellowship is exclusively for women who lead or own a for-profit business.
Do I have to be a fluent English speaker to participate?
- English language proficiency is a requirement to participate in the program.
Dates
Deadline: October 31, 2024
Cost/funding for participants
Through the VV GROW Fellowship you will:
- Have gained a new found confidence in your ability to lead, as well as in your businesses’ ability to thrive.
- Have a framework for measuring your organization’s impact which can be used to measure your performance, and can also be engaged in your marketing and in securing investors.
- Be empowered with the knowledge and tools to evaluate and identify opportunities for growth in business and leadership.
- Strengthened resiliency and ability to navigate change, and contingency planning strategies and approaches to guard against future economic or other shocks.
- Have knowledge in how to leverage the Vital Voices network of alumnae, partners and supporters to provide access to unique and high impact opportunities to further your own leadership and business impact.
- Understand how to strengthen network connections and engage partners to provide insight and support to you and your business
Participation costs: If accepted into the program, there is a participation fee between US $1,500. Payment plans and some need-based scholarships will be available.
Scholarships
Scholarships will be available. If you are interested in being considered for a scholarship, please select “Apply for a scholarship” and answer the corresponding questions. Successful applicants will be informed of the result of their scholarship application upon notification of program acceptance.
Additional information about the participation fee will be provided upon the completion of your application.
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