During yesterday's second annual NMTC-WIT Luncheon, a reporter in the audience asked the panelists if things were getting any better for women.
In an article published this year in Forbes, Geri Stengel predicted that 2014 would be the breakout year for women entrepreneurs. "While the number is still small -- nearly 20 percent of angels in 2012 invested in women-led businesses -- the percentage grew more than 40 percent from the previous year, according to the Center of Venture Research, which studies early-stage equity financing for high-growth ventures.
Even venture capitalists have increased their support of women-led companies. It's still paltry, but the percentage of VC deals going to women-led businesses was 13 percent in the first half of 2013. That's nearly a 20 percent jump over 2012, according to Pitchbook, a venture-capital research firm." Encouraging statistics that point to better opportunities ahead. But the real question is, as individuals, do we see new possibilities or more of the same status quo?
The answers from the luncheon's diverse panel of men and women, including our own COO at APPCityLife, varied from some panelists seeing no change at all to a few answers that, yes, things have changed. As a female CEO, I am well aware of New York Time's annual report that of the top 200 highest paid chief executive officers, only two are women. I've also seen first-hand at least one venture capital door close because of gender. I could easily see the glass as 87 percent to 95 percent empty (the percentage of venture capital currently funneled into male-founded companies in the U.S.).
I choose to see it differently. In my experience over the past year, I've seen both significant and subtle changes that make me believe there is more respect, opportunities, and equality for women founders than ever before. Despite a few fairly disheartening experiences with investors, I've also found passionate support from others.
Our company raised almost $500,000 in angel and family fund investments over the past twelve months, and we've been selected as one of only ten New Mexico companies invited to pitch for a larger round of investment at the upcoming Deal Stream Summit.
Because of our focus on solving problems in the civic space, I've had the incredible privilege of being invited to meet with leaders from around the globe and participate in discussions about civic innovation. And I have yet to find an instance where my gender created any barrier of entry into any office when I've reached out to civic leaders - even in some of the biggest urban centers in the US.
But more than anything else, the topics of discussion at the luncheon were a strong indicator to me of just how far we've come as a community in New Mexico. Last year's luncheon opened with the very uncomfortable topic of the jerk tech apps pitched from the stage of TechCrunch Disrupt. Almost the entire hour of conversation last year was focused on the unfairness, the bias, and the simmering anger of those who'd been passed over, ignored, and not taken seriously simply because of their gender. This year's luncheon definitely covered some of the same challenges -- the funding disadvantage, the challenge at being taken seriously -- but what inspired me most was the questions that had to do with the real meat of running a business. Those questions were new. Topics ranged from the value of having Non Disclosure Agreements and Employment Contracts to implementing sales channels for international businesses. Instead of simply focusing on the problems women face, the panelists were able to share valuable insight and knowledge that were real takeaways for the rest of the crowd.
Perhaps the only reason we were able to focus on questions about business and expertise this year is because we did address the more uncomfortable topics in the past year. But I, for one, am heartened by the notion that as women, perhaps we've come to the place were the conversation can begin to change from how do we let women in at all to how do we help more women grow international, high growth companies.
It's certainly what I and my cofounders have set out to do, and I am inspired by the growing support and opportunities making that more and more possible.