It’s a good time to be a female founder seeking female investors. Today, The Wing is launching its own accelerator in tandem with _able, an early investor, which will ultimately invest more than $100,000 across at least four women-run businesses. It is appropriately dubbed The Wingable Challenge.
The program, which is taking applications for the next two weeks, will run for four months and end with a Pitch Day in late January. The startups that are chosen to pitch will be mentored by female founders who have successfully raised capital and built their own startups—from The Wing’s cofounders, Audrey Gelman and Lauren Kassan, to Zola CEO Shan-Lyn Ma and SoulCycle’s Melanie Whalen.
This is also an opportunity for The Wing to open its doors to women who aren’t usually granted entry to its cozy cocoon, which has an admission fee of $215 per month. Anyone in the “Wing community” is welcome to apply. That includes Wing members but also extends to women who follow The Wing on Instagram or subscribe to the magazine.
“Given our mission is the the professional, civic, social, and economic advancement of women through community, we felt like this was the perfect chance to extend our platform to other women who might not have access to an opportunity like this otherwise,” says communications head Zara Rahim.
With this accelerator, The Wing joins the likes of Bumble—which recently started a fund—in using a women-first platform to make investments in other women and build networks of female investors and founders. Investment decisions for The Wingable Challenge will be made by _able partners Amanda Eilian and Lisa Blau, as well as additional investors who are being recruited; those investors will pledge to make their own investments in addition to the $100,000 already promised by _able.