Author: Mira Bekar
The Academy for Women Entrepreneurs (AWE) is a new project implemented by MAAA in the period between July and December 2023. The Program is attended by about 40 women (selected from more than 50 applications) and supported by MAAA members as their advisors. The focus is on women from the IT and STEM fields, who are in the beginning stage of their business or have a business idea that they would like to implement in the near future. AWE uses DreamBuilder, an online training program for women entrepreneurs that was developed through a partnership between Thunderbird School of Global Management and global copper mining company Freeport-McMoRan, which teaches women to create their own business plans, understand how to raise capital, and connect with networks of successful business owners. The program is hybrid, meaning that participants follow lessons on a web platform and then they have weekly sessions with two facilitators, Sofija Goševa-Čolančeska and Tatjana Veljović, business development experts and financial consultants. These experts, in the role of facilitators, help micro and small business owners to establish and develop business planning and finance processes. According to Goševa-Čolančeska, the potential of IT activities to encourage economic growth and innovation is huge. The number of businesses in these activities is growing daily driven by the great demand for new products and services.
The Academy for Women Entrepreneurs (AWE) was established in 2019 by the US Government's Bureau of Educational and Cultural Affairs. The primary goal of this Academy, which in our country is supported by the US Embassy in the Republic of North Macedonia, and is implemented by MAAA, is to provide future women entrepreneurs with knowledge, networking opportunities, as well as access to whatever they need to establish their own business.
The program has been implemented in over 80 countries around the world, helping more than 15,000 women entrepreneurs to establish their own business, (starting from just an idea), or to expand and develop their existing business. Data from several conducted surveys show that the Academy was particularly effective during the COVID-19 pandemic, helping entrepreneurs adjust to the new economic conditions in 2020 and 2021.
Specifically, this program actively promotes economic opportunities for women and ensures that they possess the capabilities and resources essential for their participation in the economy. Importantly, AWE aligns with the U.S. National Strategy on Gender Equity and Equality.
In AWE, participants initially gain important business skills and then take part in classroom discussions guided by experienced professionals, mentors, and U.S. Exchange Alumni. Partnerships with local non-governmental organizations, universities, and chambers of commerce offer women opportunities to enhance their newly acquired business skills and connect with other entrepreneurs through activities like speed mentoring, pitch competitions, and entrepreneurship events (https://eca.state.gov/awe/about-awe).
On a local level, AWE leverages the support of public-private sponsors, local partnerships, and U.S. Exchange Alumni networks to facilitate the growth of women-owned businesses. A program evaluation in 2021 revealed that 74% of women who complete the AWE program experience an increase in their business earnings, and 29% expand their workforce. By equipping women with the necessary tools and confidence, the AWE program is not only boosting income but also generating employment in businesses led by women, thereby contributing to local prosperity in over 100 countries worldwide.
Last year, the Program was organized for 25 participants from rural areas, some of them potential entrepreneurs, with ideas for establishing new, innovative businesses such as production of food, cosmetic products, and offering various services in rural areas. There were also participants who were already established women-entrepreneurs but needed an organized structure and improved management of their businesses.
An example of an international impact AWE story is the one of Exchange Alumni Laura Lau who founded and launched TeenWin, a professional counseling business, in 2022. This venture offers a platform designed to guide students in their career choices. It provides courses to help them discover their interests, explore various career paths, understand university selection criteria, and access information on grants and tuition funding opportunities to help them succeed in their chosen fields. Additionally, students have the option to connect with specialized career counselors who can provide tailored advice and guidance. Looking ahead, Lau envisions the development of virtual reality (VR) technology as part of TeenWin's future plans. Lau's ultimate goal is to make this technology available to schools in Kazakhstan.
MAAA hopes there will be successful stories like this one on local level with Macedonian women entrepreneurs who will develop the region, but also raise ecological awareness and protect the environment during the development processes.
The kick-off meeting of the Academy for Women Entrepreneurs (AWE) was held in Skopje on October 30th, 2023. The event was attended by around 30 women, participants in the project. They were first welcomed by the president of MAAA, Ms. Verica Jordanova, who expressed her great satisfaction with the women’s response to this project and their willingness to further their knowledge in how to best initiate and develop their own businesses. In addition, the participants were also welcomed by the Acting Public Affairs Officer of the US Embassy in North Macedonia, Ms. Esperanza Tilghman who wished them a successful and productive program. After the official welcome, the participants were given a networking time during which they mingled and talked with each other as well as with MAAA-mentors sharing and exchanging their ideas.
