From the entrepreneur’s corner (20): To be frank, women are making it happen
As time passes by, more and more women entrepreneurs are rising and the opportunities available for all women keep appearing at higher and higher rates. They have the power and belief that they can find a way to change or turn things around, are resilient and can make you want to wake up every day and work even harder.
Bucharest’s concentration of venture-funded female founders does not set the city apart, when comparing to the rest of Europe, but things are moving. We’ve all noticed the cases of those experienced in venture capital, private equity and startup operations investing in and pushing the companies with diverse founders and boards. They believe in themselves and work(ed) hard to make their dreams come true. Their networks include other innovative women, and must notice their efforts in promoting women and entrepreneurship.
To witness a stronger increase in number of female founders securing funding, as well as the number of female managers promoted to the top of their firms, there is a need of quality mentorship programs and the meeting opportunities that “breathe life” into venture deals. The incubators and accelerators that match women with the resources and mentorship required to secure seed funding, for example, and build self-sustainable startups are now spreading all around.
“Women are often marginalized from the founding community because it’s expensive to start a business, and if you’re already on the back foot through barriers like the gender pay gap, then you can’t solve the gender funding gap,” said Katie Palencsar, principal venture studio lead of the Female Innovators Lab (according to a PitchBook analysis you can read here.)
The major cities of Romania have now „pipelines” of endeavoring females that discover entrepreneurship. They want to work in tech, life science and healthcare, bio food and supplements, beauty and fashion, e-commerce, media and others, or are already working there. They’re accustomed to the grueling hours often required to get a startup ahead, and their leadership skills are a certitude. It’s not the purpose of this post to put names and faces in the spotlight, but definitely the Romanians must have noticed the recent valuable female-founded companies’ news that generated omnimedia traffic.
The greater percentage of female-founded startups getting funding in cities like Bucharest, Cluj, Iasi or Timisoara compared to other local cities is one piece of the puzzle. The venture scene is poised to grow, although the road ahead won’t be easy, the more we all must survive in the chaos and uncertainty generated daily by the politicians. It will need more female investors and founders to pave the way for the next era. “The biggest challenge is that anyone committed to this issue needs to have a long-term view,” says Palencsar. “It’s a long game. It’s not about committing to an initiative for a year and paying lip service. It goes beyond that.”
“Dear optimist, pessimist, and realist — while you guys were busy arguing about the glass of wine, I drank it! Sincerely, the opportunist!” (Lori Greiner, inventor, entrepreneur and TV personality)
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