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UOB’s FinLab Launches Accelerator Programme for Aspiring ‘Mumpreneurs’

UOB’s innovation accelerator The FinLab and Mumpreneurs-Go-Places, an arm of Mums@Work, launched an accelerator programme for aspiring mum entrepreneurs.

The Business Transformation Programme is a comprehensive five-week virtual accelerator programme aims to equip aspiring women entrepreneurs, particularly mothers, with the knowledge and resources to kick start and to grow their businesses.

During the pandemic, more mums have turned to entrepreneurship, with Mums@Work finding that nearly 3,000 of its members are interested in starting their entrepreneurial journey.

This may be attributed to the fact that the pandemic has been an opportunity for them to explore alternative ways to work, or supplement their income.

However, apart from having to juggle work and family responsibilities, they tend to lack an effective support network, including relevant financial, social and technological resources.

Those who are interested in starting their own business also tend to have limited knowledge on sourcing for initial capital, deciding on a starting point or formulating an overall business strategy.

Mitigating financial risks and coming up with an effective digital marketing strategy are two other key concerns that mumpreneurs-to-be have.

To help mum entrepreneurs overcome those challenges and to provide support needed to grow their businesses, participants will have free access to The FinLab’s business transformation programme.

The Business Transformation Programme for Digital Mumpreneurs will run in cohorts with the first batch commenced on 12 August 2021. Subsequent intakes will be held every quarter.

Janet Young

Janet Young, Co-founder and Director of The FinLab said,

“Running your own business is never an easy feat – especially for mothers with young children. The FinLab’s expertise combined with Mums@Work’s understanding of the needs of women has enabled us to create an effective programme that really sets mums up for success.

As UOB’s innovation accelerator, we are also able to tap the bank’s expertise in serving ASEAN SMEs and its connectivity in the region to help mumpreneurs succeed.”