As noted in the 2023/2024 GEM Women's Entrepreneurship Report, education plays an important role in supporting women entrepreneurs. Women with higher levels of education typically experience higher returns with their startup activity, while women with lower levels of education are more likely to start businesses out of necessity.
Babson College’s Black Women’s Entrepreneurial Leadership Program (BWEL) is a great example of an effective entrepreneurship program at a university. The first program of its kind at a four-year institution, BWEL is dedicated specifically to Black women entrepreneurs. Founded by Dr. Shakenna K. Williams, Executive Director of the Frank & Eileen Center for Women’s Entrepreneurial Leadership at Babson, BWEL addresses key barriers Black women founders face, such as limited access to capital, networks, and growth opportunities.
Through BWEL, participants benefit from Babson’s world-renowned pedagogy, expert mentorship, and strategies to grow their businesses. The program provides tailored support, including leadership development, connections, and guidance in areas like capital raising and procurement.
Shennice Cleckley, Founder & CEO of Melanin Innovations, said, “The BWEL program was more than just a learning experience; it was a catalyst for growth. The mentors opened doors in procurement I hadn’t encountered in 20+ years of entrepreneurship. The women I met became a support system, driving me to go bigger and better.”
Dr. Sadie Burton-Goss, Chief Diversity & Inclusion Officer at Babson College, remarked, “The success of BWEL is a testament to the impact of prioritising equity and opportunity. As BWEL nears its fifth anniversary, we celebrate not just the program’s success, but the resilience and achievements of the women it has empowered. This program shows what’s possible when we invest in inclusive entrepreneurial leadership.”
To continue expanding its impact, BWEL is inviting mentors, donors, and advocates to support its mission. By partnering with BWEL, you help close the racial wealth gap and enable more Black women entrepreneurs to scale their businesses and build generational wealth. Join us in supporting BWEL’s mission to foster the next generation of Black women entrepreneurial leaders and create a more equitable future.
Learn more at this link.
This profile was originally published in the GEM 2023/2024 Women's Entrepreneurship Report: Reshaping Economies and Communities. We thank the Frank & Eileen Center for Women’s Entrepreneurial Leadership at Babson College, one of our report sponsors, for providing the above material and helping to put the data from the GEM Women's Entrepreneurship Report in a real-world context.