The Western Union Foundation Fellowship is a program tailored for entrepreneurs and community leaders hailing from or working closely with severely marginalized, refugee, and forcibly displaced communities worldwide.
This virtual, global initiative aims to empower emerging entrepreneurs and leaders by imparting essential skills, facilitating networking opportunities, and fostering community transformation.
Advantages
- Training and Capacity Building: Comprehensive training modules led by industry experts covering topics such as Sales, Data & Metrics, Business Fundamentals, and Funding.
- Mentorship & Community: Access to renowned entrepreneurs, industry leaders, global alumni, and local partners for mentorship, guidance, and support throughout the program.
- Pitch Preparation: Opportunity to pitch at a prestigious event attended by a global audience of employees, mentors, alumni, and partners.
- Venture Development Support: Select Western Union Foundation Fellows may receive venture development stipends totaling $36,000 based on their progress and impact during the Fellowship.
Criteria
• Candidate Profile:
- You are an entrepreneur or community leader originating from or actively engaged with highly marginalized, refugee, and forcibly displaced communities worldwide.
- Possessing an entrepreneurial mindset, a willingness to learn, and a drive to become an effective leader within your community. Ideally, applicants should be in the Problem-Solution Fit or Product-Market Fit stages of their ventures, with engaged customers or beneficiaries, and demonstrated impact and revenue outcomes.
- Dedication to participating in the full 16-week program, which includes a 2-week virtual immersive experience. Priority is given to individuals fully dedicated to active participation throughout the program, as community engagement is pivotal to its success.
Geographical Focus: Applicants based in and/or creating impact in the following countries:
- United States, Uganda, Nigeria, Pakistan, Bangladesh, Mexico, Costa Rica, Argentina, Brazil, India, United Kingdom, Germany, Lithuania, Japan, Philippines, Colombia.
- Preference will be given to applicants from Colombia, Mexico, Uganda, Pakistan, and the United States.
Objectives: Seeking expert-led entrepreneurial training, access to funding opportunities, and an extensive mentorship network to accelerate leadership skills and venture impact.
Selection Process
Timeline & Overview
- Dates: The program will run from August 8th, 2024, to November 19th, 2024, spanning a total of 16 weeks.
- Structure: Weekly virtual workshops with localized gatherings and events when feasible (requiring 8-10 hours per week). Sessions occur on Tuesday, Wednesday, and Thursday from 8:30 am to 10:30 am in the Mountain Time Zone (GMT-6).
- Immersive Experience & Orientation: A 2-week virtual immersive session commencing on August 8th, 2024 (demanding 20–25 hours per week).
- Training: Weekly modules led by experts covering essential topics such as Foundations, Data & Metrics, Go-To-Market, Funding, Team Management, and Pitch.
- Impact Series: Accomplished leaders, entrepreneurs, and practitioners participate in sessions to share their entrepreneurial journey and mentor the Fellows. View past Impact Series Speakers here.
- Basecamp: Fellow-led workshops lasting 1-3 days held in each Fellow’s community to brainstorm solutions, devise business models, and effectively communicate their ventures to an external audience.
- Summit: A final celebratory event where select Fellows pitch to local and global leaders, potential investors, and esteemed entrepreneurs (November 19th, 2024).
- Venture Development Stipend: A pool of $36,000 in venture development stipends will be distributed among chosen Western Union Foundation Fellows based on their progress and impact during the Fellowship.
Application Process
1. Submission: Complete the online application, which typically takes about 45 minutes. The application deadline is June 1st, 2024.
2. Initial Review: The Admissions Committee meticulously evaluates all applications, looking for entrepreneurs who exhibit strong leadership attributes and ventures that demonstrate innovation and scalability. Applications received after the deadline will be evaluated as needed.
3. Interview: Qualified candidates will receive invitations for a 20-minute one-on-one Zoom interview to explore their motivations for pursuing the fellowship and gain insight into their ventures.
4. Committee Evaluation: The most promising applicant profiles are presented to the external Admissions Committee for final review and selection.
5. Notification: Acceptance notifications will be distributed during the week of July 1st, 2024.
6. Confirmation & Enrollment: Confirm your commitment to the program to complete enrollment. After confirmation, you will be invited to join a “Meet the Cohort Webinar” event before the program begins on August 8th, 2024..
For Further Details,
Application Deadline: June 1, 2024.
