If you have ever found yourself in a panic looking for a dress for a wedding or a big event, you’ve probably heard about Rent the Runway. And, if you haven’t – you might want to listen up – it’s one of the most genius services out there. Revolutionizing the fashion world, Rent the Runway co-founders Jennifer Hyman and Jenny Fliess, have not only developed an incredible idea, they’ve also raised more than $100 million in venture capital funding for Rent the Runway – now that’s some powerful entrepreneurship.
Rent the runway is a simple concept that involves a fairly complex process on the administrative side. Members of the service can rent a high-end dress for an important event or night out. It arrives in the mail and when the event is over, the dress goes back in the mail to be returned to the company – brilliant, right? (it’s like Netflix for dresses!) Jenn and Jenny’s simple idea has grown rapidly into a multi-million dollar business – it’s revolutionary and has been executed to scale and succeed. Much like their own personal success, the co-founders want to see other women achieve the same type of entrepreneurial triumph.
So the two superstars put their business savvy to work again and started Project Entrepreneur, a non-profit ready to provide women “access to the tools, training and networks needed to build scalable, economically impactful companies.” They’re ready to “reach this goal through a multi-faceted national initiative that includes this robust digital hub, multi-city events, a venture competition, and a 5-week accelerator program.”
In partnership with global financial firm, UBS, Rent the Runway co-founders are “on a mission: to break traditional barriers in women’s paths and democratize the knowledge and resources necessary to build impactful ventures.” And, you know what? They will. Using a venture competition, digital hub, summit series, entrepreneurship workshop and accelerator, this non-profit just might be the one to break the mold and break the barriers that stand in the way of women entrepreneurs.
With an advisory council of some of the world’s most savvy business leaders including: Katia Beauchamp, Founder of Birchbox; Linda Honan, Chief Creative Officer at Rent the Runway; Scott Friend, Managing Director, Boston at Bain Capital Ventures, just to name a few. And, a selection of community advisors including the Latino Startup Alliance, Venture for America, Black Founders and HBCU Innovation, Commercialization and Entrepreneurship Initiative, this non-profit is bound to make strides in the business world.
With a step-by-step guide to help applicants prep their applications to show off their ideas and a competition program that will be both an unparalleled learning experience and fun, being part of Project Entrepreneur is a no brainer for any woman who’s ready to take their business idea to the next level. You could win $10,000 in funding and be part of an accelerator program launching your business from start-up to success. Who’s ready?
