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  "documentTitle": "Women-led startups losing across the board: from creation to funding, in all key European markets",
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      "text": "According to program alumni and managers, the overwhelming success factor is the synergy among a group's members and their support of each other.",
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      "text": "The programs take a similar approach—and the role of social capital is critical. Both organizations make sure that groups of three female entrepreneurs run a single business. This way, no one has to balance family and business demands alone, and having partners shields each woman from family requests for earnings and loans. This structure by itself also assures built-in social capital.",
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      "text": "Village Enterprise and The BOMA Project help women and their families escape extreme poverty. Village Enterprise equips women with the resources they need to create sustainable businesses in sub-Saharan Africa. BOMA helps women generate a sustainable income in the arid lands of northern Kenya.",
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      "text": "The programs provide substantial, sustainable benefits to impoverished families. At Village Enterprise, 75 percent of the businesses are still operating after four years. After only one year, savings groups (made up of ten businesses) have typically saved more than $850—six times the seed capital of only one business in Uganda. According to program alumni and managers, the overwhelming success factor is the synergy among a group’s members and their support of each other. BOMA reports similar levels of success. All but 1 percent of BOMA businesses are still operating after one year, and 93 percent are still running after three years. The businesses are also profitable. On average, the value of these businesses doubles in one year and more than triples after three years.",
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      "text": "The programs also provide female entrepreneurs with cash grants, extensive training in business skills and financial literacy, and mentorship. The three-woman units join larger business-savings groups, which provide access to capital for business expansion and emergencies as well as greater purchasing power. The larger networks also provide essential moral support, new-business information and opportunities, and expanded financial services.",
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      "text": "Inclusion: Who should participate in the network? Since the power of a network stems from its participants, three factors are critical for success: the right founder, committed members with time to invest, and member diversity. Formal networks and mentorship programs require major investments of time and effort to maintain and, as a result, often struggle to become long-term, self-sustaining entities. Therefore, passion and energy are integral to their success. That’s why the most effective networks have founders with a long-term interest in developing and running the program or with the ability to empower members to take ownership of the network and sustain it. A founder can be an individual, an NGO, a corporation, or another organization with a long-term interest and presence in the community, such as a bank or hospital, but the founder should have the interest to sustain the network through the start-up phase and beyond.",
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      "kind": "title",
      "text": "LIFTING WOMEN OUT OF POVERTY",
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