ENTREPRENEUR GROUP EYES VENTURE CAPITAL

A LEADING networking community has announced plans for a venture capital raise to develop its first app.

The League of Extraordinary Women plans to connect female entrepreneurs with likeminded women anywhere in the world through a new technology platform.

Previously The League has only operated in Australia through networking events including its annual Run The World conference.

The League CEO and co-founder Sheryl Thai says the plans have been in motion for about six months now.

"In 7 days, we will be flying over to New York, Colorado, San Francisco and Los Angeles to embark on a journey that will catapult The League to the next level," Thai said earlier today.

"We have never built an app before, nor have we raised venture capital, but similar to anyone else embarking on a new business idea, we had a dream."

She says the platform will be dedicated to facilitating 'real connections' that make the journey to the top less lonely.

"We have seen firsthand over the last four years how The League has inspired new business startups, facilitated collaborations, created incredible friendships and inspired the next generation of female entrepreneurs," she says.

"We have launched in 9 cities around Australia, showcased over 80-plus female entrepreneur speakers, run conferences with over 3000 women attending, created a community of over 10,000.

"With only a handful of sponsors that believed in us - shout out to the Wade Institute - we have been bootstrapping along.

"There was a point that we, the co-founders, had invested all the spare money we had to keep The League alive. Admittedly, we almost had to shut up shop because we didn't know how we could afford to keep funding this organisation."

Thai is urging her followers to help out should they deem the cause worthy by joining The League 'for less than a coffee a week', following her US tour on social media or 'investing' by attending the upcoming Social Media Masterclass or Run The World conference in Melbourne.

The League of Extraordinary Women was started by Thai, Sarah Riegelhuth, Liz Atkinson and Marie de Vera in Melbourne in 2011, a group of entrepreneur friends who would meet 'over cupcakes and coffee' and discuss the challenges of running a business.

Thai is the creator of Cupcake Central, which she started after losing her job as an IT consultant in 2009.

Read more about The League of Extraordinary Women.