13.04.14 digi women jean-o'sullivan

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13.04.14 digi women jean-o'sullivan

  1. 1. Female Entrepreneurship
  2. 2. Is there a Problem/Opportunity ?• International Studies suggest that Female Entrepreneurs are lagging significantly behind their male counterparts.• Ireland reflects the international trend; Early stage entrepreneurial activity among men is more than twice that of females. Country Ratio of men to Ratio of men to women women early stage established owner entrepreneurs managers Ireland 2.5:1 2.2:1 Australia 1.5:1 2.1:1 UK 1.8:1 2.0:1 United States 1.4:1 1.7:1 OCED average 1.8:1 2.2:1 EU – 15 average 1.9:1 2.2:1
  3. 3. HPSU Female Entrepreneurs• Within the Enterprise Ireland remit the level of female participation is significantly lower than male. Year HPSU Female Approvals Entrepreneurs 2012 97 8 2011 93 7 2010 80 9 (2 in one company) 2009 73 9 (2 in one company) 2008 71 5*Female Promoter or Female Co-Founders/Managers at time of investment.
  4. 4. Competitive Start Fund Year Applicants Female Approvals Female 2011/ 2012 724 9% 85 8%The Competitive Start Fund is an early stage seed fund whereby the promoterreceives €50,000 investment from Enterprise Ireland and is matched by €5,000investment from the start up company. Prior to the Women In Business Initiativethe female applicants for this fund where less than 10% the awareness campaignhas boosted the applicant number to 30% in 2013. Evidence that awareness andtargetted campaigns for women do work.*Female Promoter or Female Co-Founders/Managers at time of investment.
  5. 5. What Sectors typically apply for and receive support? Food 3% Engineering 5% Electronics 7% Software 25%Cleantech 12% Lifesciences Internet, Media, 17% games 31% HPSUs per year
  6. 6. Background of Promoters Other 5% Serial Promoter Indigenous 16% 37% 3rd Level 10% MNC 32%Most HPSU Entrepreneurs were managers in Indigenous Companies orMultinationals. The Women in Business initiative focus’s on allsegments above with a key focus on women in management positions.
  7. 7. Challenges facing Female Entrepreneurs based on International Studies• Risk Averse – Concern about raising Investment• Lower ambition• Lack of knowledge in information technology and business skills• Self Confidence in own skills• Networking• Few Role Models
  8. 8. How is Enterprise Ireland RespondingEnterprise Ireland launched two financial products in 2012 specifically focused on female led early stage start up companies. • Competitive Feasibility Fund for Female Entrepreneurs  120+ applications received good sectoral spread  20 feasibilty grants awarded • Competitive Start Fund for Female Entrepreneurs  80+ applications received good sectoral spread  10 equity investments of 50K awarded• Resulted in an additional 30 females becoming EI clients and accessing supports.
  9. 9. 2013 – A Twelve Month ReviewWhat works?• Working in tandem with accelerator programmes. Launchpad @ndrc, propellor @ dcuryanacademy, new frontiers@Enterprise Ireland and wira@telefonica 02• Liaising with Networks in the technology area /Technology events (women have highlighted at all stages their need for a technology focused support to bridge their lack of academic tech knowledge.• Participating and creating awareness at female led events• Awareness campaigns• Supporting Female Entrepreneur awards• Further female only financial supports
  10. 10. 2013 – A Twelve Month ReviewWhat works?• Working in tandem with accelerator programmes. Launchpad @ndrc, propellor @ dcuryanacademy, new frontiers@Enterprise Ireland and wira@telefonica 02• Liaising with Networks in the technology area /Technology events (women have highlighted at all stages their need for a technology focused support to bridge their lack of academic tech knowledge.• Participating and creating awareness at female led events• Awareness campaigns• Supporting Female Entrepreneur awards• Further female only financial supports

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