How this program helped raise €77 million for women-led businesses

This is a paid partnership with EIT Urban Mobility – the largest innovation community for urban mobility in Europe. Discover more about their work in the fact box below the article.

We know the numbers. Only two percent of European VC capital goes to all-female founded teams, while all-male teams receive more than 80 percent.

"You’d think we’re in a modern landscape with startups and innovation. We see this gap in the mobility sector as well, and it’s a societal problem when half of the population is not involved in the decision-making."

These words come from Celeste Reglá. With a background in industrial engineering, she has worked across multiple areas in mobility, including Volkswagen Group Innovation.

Almost four years ago, she was tasked with developing a program for women founders at EIT Urban Mobility.

Boost for founders and investors

The result was Supernovas, now a cross-sectoral initiative in collaboration with other EIT branches, including Manufacturing and Food. Currently in its fourth year, the initiative is planning for at least three more. Both startup founders and investors are encouraged to participate.

To tackle the gender gap in the startup world, Reglá emphasizes the role of investors. So far, Supernovas has supported 500 women investors, supporting the creation of new jobs and giving the tools for women to enter – and stay in – the VC industry.

"Women investors only control 9 percent of assets in Europe, which directly impacts how much capital reaches female entrepreneurs. Trust plays a huge role, and we tend to trust people who resemble ourselves. Women invest in more women," Reglá tells Impact Loop.

Support for expansion

Reglá highlights two of Supernovas’ flagship initiatives. Rocket Up supports startups through international expansion, while Investment Forums aim to match the community of investors with startups that are fundraising.

Of the 75 startups supported so far, 43 percent have successfully raised capital – over €77 million in total.

"The leverage effect is outstanding: for every €1 invested in the program, €120 has been raised. EIT is uniquely positioned to lead these kinds of market-access initiatives. We know each of the European markets and can connect startups to both investors and local ecosystems."

A gender lens

EIT Urban Mobility also applies a Gender Action Plan framework across all its operations, from storytelling and pitch juries to roundtables and team assessments in accelerator and investment programs. But why is equality particularly important in mobility?

According to the recent Better Mobility Trend report, a more sustainable and inclusive European transport system could significantly reduce traffic injuries, healthcare costs, and greenhouse gas emissions – while improving public health and accessibility for elderly and other vulnerable groups.

"Cities and transport systems were traditionally designed for a white, 40-year-old man without special needs or caring for children, going from point A to B. But that’s not how the world works anymore. We must create urban environments that work for all citizens," says Reglá.

Driving change through EU policy

These issues have also been raised in the European Commission’s new startup and scaleup strategy, where EIT Urban Mobility contributed to the public consultation.

"It’s a strong initiative, and the gender gap must be addressed. We don’t have to reinvent the wheel, but we could scale what works."

There are also proposals to streamline complex public procurement processes.

"Most European cities require startups to have a local entity, and in some cases, the entire application must be submitted in the local language. We believe this could be made much easier."

To reduce such barriers, EIT Urban Mobility runs the Raptor Project – Rapid Applications for Transport – which matches startups with cities to solve mobility challenges. So far, 57 pilots have launched in 49 cities across the EU.

Reglá adds that there is another challenge that could turn into an opportunity: the fragmentation of equality-focused initiatives.

"There are so many different programs out there, which is great. But from a startup’s perspective, it can be overwhelming. That’s why we propose clustering them under the Supernovas umbrella. There’s real potential in building a coherent roadmap."