Startup Victoria Female Founders Program Presentation
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How Startup Victoria, Melbourne is exploring and dealing with gender inequality in technology or high risk / high growth startups.
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Startup Victoria Female Founders Program Presentation
- 1. Hi, I’m Michell e
- 8. Overall, fewer than 5% of high growth startups are owned by women
- 10. 15% of Melbourne tech/startup meet up attendees are women
- 12. And successful female applicants to local star tup incubators, accelerators and VCs was mixed …
- 13. And successful female applicants to local star tup incubators, accelerators and VCs was mixed …
- 14. And successful female applicants to local star tup incubators, accelerators and VCs was mixed …
- 15. And successful female applicants to local star tup incubators, accelerators and VCs was mixed …
- 16. And successful female applicants to local star tup incubators, accelerators and VCs was mixed …
- 17. And successful female applicants to local star tup incubators, accelerators and VCs was mixed …
- 18. 95% of all venture backed startups are owned by men
- 19. Women-operated, venture-backed companie s have 12% higher revenues Companies with more equalized executive management gender distribution get 30% better results from IPO
- 20. We’re better off working together!
- 27. ① Membership ② Female Mentors ③ Research ④ Full Launch
- 32. $99 a year
- 33. ① Membership ② Female Mentors ③ Research ④ Full Launch
- 34. FEMALE PARTICIPATION RATES High growth startups All startups 5% 50%
- 35. Small Service < 5 Local
- 36. MAKE MORE AMBITIOUS CHOICES
- 37. ① Australian Centre for Entrepreneurial Research ② Australian Women Chamber of Commerce and Industry National Research Project ③ Universities ④ Successful entrepreneurs
- 38. WHAT’S OUR OFFER? To help grow numbers, confidence and success of enterprising women. • Mentoring • Mock boards • Partnering • Coaching • Involvement • Exposure • Pathways • Information • Acceptance
- 39. So what impact do we want to have?
- 40. 2 YEARS DOUBLE PARTICIPATION 5 YEARS LIFT FUNDING TO 50% 1 YEAR 50 FEMALE MEMBERS
- 41. Get involved ① Are you a founder? Become a Startup Vic Member: startupvictoria.com.au/memberships ② Want to sponsor? Want to mentor? Email michelle@startupvictoria.com.au ③ Want to be a female founder friendly business? Become a Startup Victoria business member startupvictoria.com.au/memberships
- 42. Thanks
Editor's Notes
- Michelle Bourke, Board Director at Startup Vic, Co-lead of the female founders committee with Startup Vic and also business owner. Tonight I want to talk about one of the ways Startup Victoria is fulfilling its mission to create more and better founders of high growth startups. First we need to ask…why do we want MORE founders?
- This is what Australia’s export market looked like in 2012
- And this is Irelands from the same year – this is what exports look like for a country that can’t rely on non renewable energy sources to make money. So why “more founders”? Because apart from the obvious lifestyle and achievement benefits for each individual, these founders are crucial to the future stability of Australia’s economy. So how do we start tackling this?
- Here’s one way. This is the population of Australia
- This is the tech industry – where women make up 25%
- But in the startup world its more like this
- And sometimes…it can feel a bit like this!
- Overall, fewer than 5% of high growth startups are owned by women
- Back in April, Local VC and founder of Melbourne accelerator Angelcube threw down the gauntlet – offering us at Startup Victoria a great jump start: $10k to tackle gender imbalance in startups. And given women make up half the population, then what better way for Startup Vic to help create “more founders”, than to encourage more women to give startups a go!
- So…for the next couple of months, I went to a heap of different local meetups including Silicon Beach, Lean startup Melbourne, Health Tech and I even went to Infrahack – an infrastructure hackathon put on by Nicta and the Vic Government. Overall, there was an average 15% female turnout across these different events.
- This is a photo of the Stripe launch event held by Startup Vic at NAB
- On top of that, I met with a whole heap of people to understand what was happening locally. At Angelcube which is a local accelerator for startups, Adrian had worked hard to get numbers of women up, going from 1 female founder, 2 years ago, to 4 out of 15 this year (25% participation), and 50% of the teams had female members
- At The Founders Institute which is an incubator for startups, Matt Allen has also been focused on attracting more women to the program. This year 29% of the 31 participants were women.
- Rohan, who does an amazing job of running the University of Melbourne Accelerator Program, had 10% of female founder applicants, but unfortunately none made it through to the program this year
- Aurelius Digital has somewhere between 25 and 33% females pitching at their quarterly event
- Scale Investors are specifically focussed on female founders and so 100% of their applicants and recipients are women
- Although in general its lower. 1 out Adventure Capital’s 10 backed startups are women founders – that’s 10%
- In fact that’s still double the international average! Generally, 95% of all venture back startups are owned by men. And THIS is where we come to the “better founders” part of Startup Victoria’s mission. How can women help achieve that bit?
- Maths doesn’t lie. Women-operated, venture-backed companies have 12% higher revenues and Companies with more equalized gender distribution in executive management get 30% better results from IPO So put simply…
- We’re better off working together!
- In fact, I mapped out the entire local pathway from the point people decide they want to be an entrepreneur through to getting funding and growing and despite a few gaps you can see in red there, women get a fair bit of attention which is great. But why do we have this separation at the moment?
- To find out, I went along to a number of female only meetups too and the women who attended those were different to the ones I met at the male centric meetups. They told me they didn’t go to the meetups that attracted more men because… They didn’t drink beer They felt intimidated by all the guys And Tthey sometimes got hit on by guys
- But most of all, they just didn’t really feel confident about themselves or their business ideas...
- So from there, the Startup Victoria female founders committee was formed – full of women who own their own businesses, have successful startups, women in the process of launching startups, women who organise meetups and startup events for other women, women who work for startups, women who fund other women’s startups! We took information from our own experience, international research and research gathered locally through my conversations to find the most effective way to have a real impact. Tonight, the team is going to talk with you about two of the major initiatives we’re launching this evening, the first one will be funded with the generous donation from Adrian Stone. I’d like to now introduce Marina Paronetto, founder of powerhouse HQ, organiser of multiple Startup Weekend hackathons, designer and co-lead of the female founders committee.
- Here to There
- Up to $30,000 worth of discounts and freebies for your startup with love from a whole heap of OTHER startups.
- 25% off all workshops and events we run. We’re running an awesome conference later this year with some amazing speakers including Justin Kan - Partner at Ycombinator, cofounder of Twitch.tv that recently sold to Amazon Tracey Chou - senior engineer at Pinterest, and the woman who single-handledy pushed the tech giants to disclose their diversity statistics Cameron Adams - co-founder of Canva, formerly interface designer at Google Morten Lund - original investor in Skype, co-founder or investor in over 100 high tech startups Joyce Kim - founding member of Stellar.org, entrepreneur and VC at MIT Labs
- Access to mentors including the Startup Victoria board
- And amazing mentors available especially to women as you wish to apply for certain programs to help give you the confidence boost to take the plunge! Rohan, to talk about any applications to the MAP accelerator program Sylvia, who won the latest Startup Melbourne Weekend to chat about being a first timer at a hackathon Victoria, who won the last SheHacks Hackathon to also chat about checking out hackathons Laura McKenzie, the CEO of Scale Investors, to chat about VC investment in your startup if you’re ready to take that step Tessa Court, the CEO of tech startup, Intelligence Bank, if you’re already running a successful startup and you’re ready to take it to the next level with the Springboard program Ian Basser former Ceo of Chandler McLeod and now managing director of private equity investor consultants Figaro Partners And women graduates from AngelCube
- Startup Victoria Membership only costs $99, all you have to do is head to startupvictoria.com.au to get a membership and when you sign up, pop in your email address so one of our team can give you a call after you join to personally say hello.
- I’d like to now introduce Tristonne Forbes a Startup Vic female founders committee and founder of Business Imagineering consulting who has worked with many, many startups across her time in business to chat about the next steps in continuing to build Startup Vic’s program for women.
- So the last question we have to ask is…what impact do we want to have? I’d like to share our goals with you and I’m really hoping that many of you will join Startup Victoria and help us achieve them together.
- NEXT 12 MONTHS: Double the number of women founder participants in accelerators/incubators (or get on in where a program currently has none). Double the total number of women founders who receive funding across all other VC funding sources. NEXT 5 YEARS: Lift the funding of women entrepreneurs to 50% (10% of total in year 2, 20% in year 3, 35% in year 4, 50% in year 5) 50 female premium paid by June 2015 with a 70% retention rate