How We Promote Female Entrepreneurship at Santander X Explorer

Female entrepreneurship has become a global phenomenon, with steady growth year after year. Women now lead a substantial proportion of high-potential start-ups. However, they remain a minority within the entrepreneurial community, as shown by this study from GEM (Global Entrepreneurship Monitor).

At Santander X Explorer, we promote female entrepreneurship through a series of measures that are delivering tangible results: whereas in 2019 projects led by women accounted for around 20% of the programme, by 2025 this figure has risen to almost 50%. And the ratio continues to grow. What changes have we implemented?

Changes to Boost Women’s Entrepreneurship: Selection and Assessment

The adjustments we introduced begin at the beginning of the process, when participating universities assess and select the projects that will join the next edition of the programme. To achieve this:

• We designed a conscious evaluation rubric that takes diversity into account.

• Less weight is given to the application form, and institutions are encouraged to place greater trust in the organic selection that unfolds during the **12 weeks of Santander X Explorer. **This is essential, as women are less likely to self-promote, which can disadvantage them.

• Greater value is placed on factors such as potential, commitment and learning in the final decision.

Does this strategy work? Our data from the most recent edition confirm that it does:

• Projects selected: 47% women – 53% men.

• Projects graduating (i.e. those completing the programme and earning the Explorer Certificate): 50% women – 50% men.

Shifting the Entrepreneurial Narrative

What we share is very important. The hegemonic model of the lone hero with a brilliant idea is as outdated as it is unrepresentative; it does not reflect the reality of entrepreneurship (as Patricia Araque, Executive Director of Santander X Explorer, explained in a TalkX and in her TalkX on prototyping feminist businesses). Within the programme, we approach the narrative from a different perspective:

1. A shift in the imaginary: Silicon Valley, unicorn start-ups and individual epic journeys are replaced with a focus on impact-driven projects, giving back to society and improving the common good.

2. Broadening the “why” of entrepreneurship: We seek a wider range of motivations that resonate with diverse drivers, not only traditionally masculinised ones.

Language Changes that Strengthen Female Entrepreneurship

Narrative goes hand in hand with the words we use: **what we say is just as important as how we say it. **For this reason, the language and representation used in Santander X Explorer (our glossary for inclusive entrepreneurship is a powerful example) align with these principles:

• Systematic review of inclusive language. It is not enough to rely on generic masculine forms; we also use neutral terms (“people”, “students”, “those who”, etc.), as well as verbs and frameworks that avoid defaulting to the masculine.

• Conscious visual representation: women are present in charts, illustrations, materials and communications. This is not the exception, it is the norm (take a look at our Instagram** **to see for yourself).

• A balanced Expert Pool: the individuals answering Explorers’ questions in Q&A sessions are evenly split, with a 50/50 ratio of women and men.

• TalkX (where entrepreneurs with significant experience share their journeys live on our social channels, inspiring participants and demonstrating that other models of entrepreneurship are possible) features more visible and diverse female role models.

A Safe Environment for Women-Led Projects

These changes would mean little without providing a safe environment for all participants — supported by a consistent culture.

• At Santander X Explorer, there is an explicit Code of Conduct that prioritises the programme as a safe space and sets clear boundaries regarding acceptable behaviour.

• We also combine symbolic and practical actions: 19 November (Women’s Entrepreneurship Day), International Women’s Day (8 March)… We go beyond blog posts or social media content. We provide context, foster conversations and amplify the visibility of other women entrepreneurs, who consistently highlight the power of community.

Through these practices we reduce invisible friction, one of the major causes of women leaving entrepreneurship.

A Non-Competitive Pedagogical Design

The Explorer methodology is built around the following principles:

• Recognition is not given to those who “sell themselves” the most, but to those who cooperate the most.

• The weekly rhythm and emphasis on process and learning reduce penalties for less aggressive profiles, while fostering consistency (rather than one-off “big moments”).

• The focus is on doing, testing and reflecting, not on “convincing others”.

Other Pillars that Support Women’s Entrepreneurship

Our observation of the dynamics within Santander X Explorer has also led us to adopt additional measures:

1. Placing strong emphasis on mentoring,** feedback and peer conversations.** The community provides reinforcement and support that are irreplaceable.

2. **Reducing the centrality of competitive pitching **as the core axis of the programme.

3. Encouraging a **diversity of project types: **Explorer is not limited to purely “tech” or hyper-scalable start-ups. Services, cultural projects, education, care-related initiatives and social impact ventures all have a place. This broadens the number of people who feel that entrepreneurship is a genuine path to building the life they want.

4. Legitimising doubt and learning. The programme does not require participants to have everything figured out from day one. In fact, **not knowing, changing direction, reformulating and pivoting are normalised. **This strongly resonates with female career paths, which are often socialised around prudence rather than performative certainty. Would you like to be one of them? Pre-register here for the next programme. We look forward to welcoming you to a safe environment where the community will always be there for you.