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Wednesday, January 19, 2011
Women entrepreneurs look at the positive side of being in the minority
By Lynette F. Cornell
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It’s the same old story: There still are very few female founders of tech startups. According to a research report from the New York-based VC industry tracker CB Insights, only 27 percent of startup founders in Massachusetts are female, which is actually a pretty high rate considering the national average is only 8 percent.
On one side of the argument is the claim that the females are there, but they are just being ignored. On the other side is the contingent arguing that not many females start companies. The available data on the subject doesn’t paint a clear picture of what exactly is the case, but according to some local female startup founders, there is definitely a shift in the gender ratios in the New England startup scene.
We talked to seven female founders from five area startups about how they view the climate for female founders. The overall sentiment was that being a female in a mostly male space isn’t actually a bad thing, but rather, it can be a point to leverage, both in front of investors and in the business community at large. While female founders may be few, they are making their presence known.
Her Campus LLC
Internet media targeted at female college students
Founded: 2009, Cambridge
“I’ve definitely witnessed an increase in the number of women entrepreneurs, writers and experts in the tech space in the last few years. It’s a much needed shift, and one that rides on the heels of generally increased interest in science and technology in female students. However, I still think there’s a long way to go in achieving equal gender participation and contribution in the tech startups world. It’s important to break the stereotype that tech, engineering, and computer science are only for men, from the bottom up as well as from the top down.”
— Annie Wang, CTO
“I love being a female entrepreneur — especially in the male dominated tech space. At events such as networking receptions and startup showcases, we stand out simply because of our gender. It gets people’s attention and makes them want to talk to us. People are always curious as to what type of startup three women are running.”
— Windsor Hanger, President
“I think the tech startup climate is outwardly very accepting and supportive of female-owned businesses and purports to encourage them. Often this is actually the case. However, we still encounter some people who think that any business that is run by women and is doing something ‘girly’ like we are must be just silly and ditzy and could not actually be a really high potential business opportunity or be run effectively.”
— Stephanie Kaplan, CEO and editor-in-chief
Daily Grommet Inc.
Online marketplace for innovative consumer goods
Founded: 2008, Lexington
“There are some distinct advantages. It is easy to stand out and get noticed. Life experience as a woman helps. I see that particular edge every day from the female-founded companies submitting themselves at Daily Grommet. Since women control 85 percent of the consumer spend, including technology, these women have great insights for market-moving business and product opportunities. Given that consumer is 65 percent of the economy, that is a huge advantage for women. One huge con is that the investing community is almost exclusively male. Investing is such a risky business, and it’s logical to me that men or women would feel more confident taking risks with people who are subconsciously familiar and remind them of themselves.”
— Jules Pieri, CEO
The Naughty Nutritionist
E-commerce site for algae-based energy supplements
Founded: 2010, Boston
“In general, entrepreneurs tend to create companies that solve problems they have had or that they see as causing problems in the world/market. In either case, it is their passion and their curiosity that drives them to find a solution and then to get it used in the market. That being said, women tend to experience the world differently. So in many cases, the companies that we create often solve problems that men don’t have or are not aware of.”
“The pro of being a women entrepreneur here in New England is that there is an unlimited number of people and organizations you can get intellectual feedback from on ideas; but when it comes to funding a consumer product/company or taking it to the national market, most entrepreneurs need to go to New York or Los Angeles or even Chicago — which is unfortunate not only for the entrepreneur but also for New England. We have so many young, vibrant, clever and creative people who come to Boston to attend college, but if we don’t create or offer them more consumer-oriented companies to work at upon graduation, I feel we will lose their vibrancy and creativity.”
— Catharine Arnston, CEO
Fashion Playtes Inc.
Website for pre-teen girls to design custom clothing
Founded: 2008, Salem
“I’m a ‘glass is half-full’ person and tend to focus on the positives of being a female entrepreneur in New England. First off, I can honestly say that I’m going to be much more memorable going in to pitch our business to a potential investor, especially when I walk in with my co-founder and team (our senior team is 80 percent women) because we stand out from the pack. We’re pitching a fashion-based, consumer business and we’re almost all women! How’s that for differentiation? I’ve been fortunate to have great success basing our business out of New England in terms of financing, sourcing talented labor and finding strategic partners. I think developing a strong network in New England is about putting in the time to building those relationships and, having worked in this area almost 20 years, it’s paid off.”
— Sarah McIlroy, CEO
Pixability Inc.
Video editing services for business marketing campaigns
Founded: 2008, Cambridge
“Overall, I feel incredibly lucky to be a female entrepreneur in New England. I came to the U.S. four years ago from Europe. In my native Germany, female technology entrepreneurs are such a rarity that it’s almost considered a curiosity. I often tell people that Boston is entrepreneurial ‘Disneyland’ for me — not just as a female, but as an entrepreneur in general. The entrepreneurial lifestyle is a much more accepted way to live than in my home country, and the community of entrepreneurs is much larger.”
“I believe that female technology company founders will become more common in the future as the rates of females with technical degrees increases. 58 percent of all bachelor’s and 61 percent of all master’s degrees in the U.S. are awarded to women. The Boston area is the education capital of the United States and therefore women’s educational advantage will translate into a proportionally higher percentage of female-led technology startups in this area compared to other regions of the country.”
— Bettina Hein, CEO
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