WeVenture: Strengthening Investment Readiness of Women Entrepreneurs

WeVenture is a regional initiative implemented across Armenia, Georgia and Kazakhstan. The program aimed to strengthen the growth potential of women-owned and women-led businesses.

Delivered by Civitta in partnership with the World Bank Group, the program combined training, mentorship, networking and investor-facing activities to help entrepreneurs improve their business capabilities, investment readiness and access to the entrepreneurial ecosystems.

Women entrepreneurs in Georgia continue to face barriers to business growth, including:

• limited access to investment networks;
• lack of preparedness for engaging with investors; and 
• gaps in financial planning, business model development and scaling strategies. 

Program participants represented diverse levels of business maturity: from early-stage ventures that are validating their products to established small and medium enterprises (SMEs) that are seeking growth financing. Thereby, businesses required a flexible support model rather than a standardized approach.

The main challenge was to design a program that could strengthen business capabilities, while responding to varying levels of investment readiness and creating meaningful links with the entrepreneurial ecosystem.

Civitta designed and delivered the Georgian component of WeVenture as part of a harmonized regional methodology while also adapting implementation to the local ecosystem.

Following an open call for applications, 149 Georgian women entrepreneurs applied, and 45 participants were selected based on business potential, eligibility and program fit. 

Participants were divided into two readiness tracks to receive support suitable to their stage of business development. The program combined online training, individual and group mentorship, practical assignments, networking events, pitch preparation and Demo Day participation.

Rather than relying solely on classroom learning, participants worked directly on customer validation, business models, financial planning, investment materials and pitching, and were supported by experienced trainers and mentors.

Digital learning platforms, continuous communication and practical mentoring ensured that participants could immediately apply acquired knowledge to their businesses.

The WeVenture program successfully supported one of the largest cohorts of women-led businesses to participate in an investment-readiness initiative in Georgia. Participants were able to:

• strengthen their business and financial management skills;
• develop investor-ready materials including pitch decks and company profiles; 
• present their businesses to experts and ecosystem stakeholders;
• expand their professional networks and engage in follow-up discussions with investors.

Following the Demo Day, the jury evaluated the participants’ pitches and awarded grants in the amount of USD 5,000, USD 3,000, and USD 2,000 to BioNova, MedCo, and AIIA, respectively. The project’s impact extended beyond its completion, with the first-place winner, BioNova, successfully leveraging the initial support to secure additional external funding.

Following the project, the company raised USD 100,000 in its first subsequent funding round and secured an additional USD 25,000 through another funding opportunity, demonstrating the project’s contribution to strengthening participants’ investment readiness and long-term growth potential.

Several other businesses also continued their entrepreneurial journey by applying to acceleration programs and were accepted into a program supported by Georgia’s Innovation and Technology Agency

Testimonials:

Skill Lynk is an online tool that helps companies manage their employees, generate salaries, and attract talent. Involvement in this program has helped me understand the importance of attracting investment in order to accelerate growth rates and support development and skill-building. WeVenture program has created a very important precedent for the empowerment of female entrepreneurs. My team and I are ready to grow and scale.
Ms. Mano Kuchukhidze, Skill Lynk

The packaging materials cluster currently includes 70 companies that are united around the idea that business can be both profitable and socially responsible. We are jointly advancing the production of sustainable packaging in Georgia. The mentors of WeVenture inspired us to think on a larger scale and go beyond the regional level. Therefore, by adopting their practical knowledge, I expanded the regional cluster and have already created the Caucasian Circular Economy Alliance. 
Ms. Salome Machavariani, Packaging Cluster Georgia

1. Tailored mentorship generated greater business improvements than classroom training alone, particularly for financial modelling and investment preparation.
2. Segmenting participants according to business maturity enabled more relevant and effective support.
3. Practical, output-oriented learning, focused on real business deliverables, resulted in higher engagement than theoretical instruction.
4. Combining online support with in-person networking and Demo Day maximize both accessibility and relationship building.
5. Future entrepreneurship support programs should integrate multiple financing pathways, since not all SMEs are seeking venture capital, and many require alternative funding opportunities.