The 2017 edition of Startup Scaleup, an all-day expertise sharing and networking event for small businesses and entrepreneurs, has added a new panel. The latter has a provocative name- Battling the Bro Culture: Being a Woman in the Startup world. Startup Scaleup has been organized by JumpStart. The meeting is being organized to assist women to manage the competition to acquire credibility, investors, and allies. The event has already become popular in social media and has garnered an impressive number of page views and likes.
Fighting gender bias
According to Amy Martin, the senior partner, Marketing, JumpStart, the event will examine the real nature of gender bias. Ways will also be explored to tackle such biases. Ideas will also be found and possibly funded by a number of investors. The same has been written on Startup Scaleup website.
Yvonne Campos, a panelist, and Next Act Fund LLC president said that the 'bro culture' represents the extremities of behavior which was always present. Her Next Act Fund provides finance specifically for women entrepreneurs. She pointed out that women have difficulty when it comes to change. She said that since they cannot break in, they craft a parallel universe. Funding is done by their own sources. One of the 200 angel investors to attend the meeting is Janet Makepeace. She is the founder of JAR Leadership Coaching. The 200 angel investors are clubbed together to create a network named Pipeline Angels. This network puts investment money only in women entrepreneurs and non-binary sex who identify themselves as women. She pointed out that female investors need many elements other than money. They also require human capital and social capital to ensure their success.
Male domination and funding
According to Cathy Belk, the JumpStart president, only about three percent of venture capital funding gets raised by women CEOs. In money terms, it is a measly $1.5 billion out of the $50.8 billion industry. This number was crunched from a database of almost 7,000 companies from 2011 to 2013. It is found that 89 percent of investment decision makers at the helm of 72 Venture Capital entities are males. It is found that all-male teams are four times as much as more likely to acquire capital funding compared to those who have women on the executive team. JumpStart will reach out and welcome every kind of company and help them to prosper.