Astia October Newsletter


Sharon Vosmek, CEO Astia Message from the CEO Why high-growth entrepreneurship? Why women entrepreneurs? Not a week passes now when I am not asked to answer some variation on the above two questions. The simple answer to both - jobs and innovation. A report prepared by the Ewing Marion Kauffman Foundation recently found that all net new jobs created in the US in the last 30 years have been created by high-growth start-ups less than 5 years old. And further, research from Babson College found that if women high-growth entrepreneurs had the same access to capital as their male counterparts, we would see 6 million new jobs created within 5 years - 2 million of those within year one. This is the jobs recovery we all seek. Add to this the fact that we have women at the ready: women are nearly half the PhDs, more than half the college graduates and half the MBAs. It seems a logical missed-opportunity if women are not fully participating (for whatever the many reasons) in high-growth entrepreneurship. It's about jobs. Regarding innovation, there is an abundant body of research that demonstrates that innovation and group intelligence are directly correlated to the number of women on the team. Scott Page, University of Michigan and IBM both published work proving this and are great examples to represent the body of evidence. IBM's findings were that group intelligence is directly correlated to three things: 1) The group member's ability to read each others expressions 2) The evenness of the conversational participation 3) The greater proportion of women And further, the researchers postulate that numbers 1 and 3 are closely linked. It's about innovation. This month, the conversation has become even more charged with thought leaders at the Kauffman Foundation calling for the funding of programs for women entrepreneurs as a means of growing the economy. The Report, authored by Lesa Mitchell, argues that "Not-for-profit initiatives advancing opportunities for high-growth women entrepreneurs need greater funding and skin in the game from women executives, philanthropy leaders, and industry. We need to expand programs like Astia, NewMe, Founder Fridays, Women 2.0, Kauffman FastTrac, and myriad other not-for-profits focused on providing education and networks for high-growth women entrepreneurs." If you are thinking about heeding this call to action, you should know that a tax-deductible (in the US) investment in Astia allows the organization to: • Inspire a new generation of women entrepreneurs who will drive innovation, generate new jobs and create wealth. • Enable women to participate more fully in the acceleration of innovation in high-tech, clean tech, life sciences and other high-growth businesses (and sectors where women remain sorely under-represented). • Leverage the Astia track record of a 60% funding success rate for member companies. • Further advance the cause of entrepreneurship through education, mentoring, infrastructure, resources for the benefit of women entrepreneurs. • Promote women’s entrepreneurship globally via the Astia worldwide network. I hope to see many of you next week at the Astia entrepreneur program here in San Francisco. We have lots going on and many ways to get you engaged - including as an investor in this much needed work! Astia is a community - Astia is you! Cheers, Sharon Vosmek Chief Executive Officer Back to top Astia Welcomes Fall 2011 Cohort The Astia Community is pleased to welcome 35 new companies to the portfolio: AboutOne.com - Joanne Lang AboutOne is an online family management system that auto-magically stores and manages what matters most: memories and household information. Autitouch BV - Freena Eijffinger Autitouch BV develops applications on Microsoft Surface and Windows 7 that support diagnostics and treatment for children with Autism worldwide. Ayotle - Gisele Belliot Ayotle is an IT services company that allows users to create and animate an online avatar during web chats using a simple web cam. Bia Sport, Inc. - Cheryl Kellond Bia is a lifestyle brand that delivers true athletic beauty by combining style and technology into training tools to propel the 45M women who share a passion for swim, bike, run, and tri. Biomiga Diagnostics - Vuong Trieu Biomiga Diagnostics is a diagnostic device company that is developing rapid point of care tests so patients can be treated with the correct drug at the correct dose. BizeeBee - Poornima Vijayashanker BizeeBee is a web-based service that helps local membership based businesses track sales and retain customers. Owners add members, take attendance and record purchases then BizeeBee does the rest. Brio Device - Hannah Hensel Brio Device develops medical devices using technology to simplify difficult airway management procedures for emergency medical responders. Buyosphere - Tara Hunt Buyosphere allows users to bookmark and share products found on the web, using the social media to leverage consumers' knowledge base. Donation Pay - Angelina Strosahl DonationPay offers the most customized, comprehensive, affordable online donation management and merchant account tools for nonprofit organizations. EarthTechling - Patricia Marchetti EathTechling is a high growth, consumer-focused, green tech news website targeted to "light green" consumers. Electron Vault - Linda Maepa ElectronVault zeroes out the development cost and technology risk associated with the design and manufacture of advanced energy storage systems. Encore Path, Inc. - Kris Appel Encore Path sells a clinically proven device that helps stroke and TBI survivors recover their arm movement, even years after the stroke or injury. Fertility Planit - Karin Thayer Fertility Planit is a social network for people worldwide wanting to create a family and for services that support them. First Aid Beverages, Inc. - Mary Page Platerink First Aid Beverages develops 2oz OTC therapeutic shots to treat tens of millions of Americans daily for common ailments such as headaches. GENOGEN - Pat Walicke GENOGEN is a San Francisco Bay Area company developing products that activate resident stem cells to stimulate local areas of regeneration of skin. Gibi Technologies - Synette Tom Gibi is developing the 1st location-based social network for pets with pet location services as our foundation. Gibi is the 1st foursquare for pets. Intelligent Dialogue Systems - Pilar Manchon Intelligent Dialogue Systems helps clients increase revenue and reduce costs while providing outstanding customer care through 24/7 human-like avatar customer service. Kahnoodle - Zuhairah Scott Washington Kahnoodle is a mobile utility that helps busy couples build and maintain awesome relationships by keeping track of offline interactions. Lextine Software - Marie-France Nelson Lextine Software's first application, Jussle, allows your calendar to read your emails and attachments and populate with important dates. Local Orbit - Erika Block Local Orbit is a web platform that makes it easy for restaurants, institutions and consumers to buy food directly from local farmers. Med3 Dermaceuticals - Barbara Morrison Med3 is a line of skin care products that provide full spectrum sun protection with hydrating ingredients in products such as moisturizers, facial cleansers and collagen products. The Megawatt Hour - Deirdre Lord The Megawatt Hour reduces businesses' energy costs by providing access to data and market information. Transactions are simple; decisions are hard. The MWh.com is a subscription service tailored to small, medium and large energy consumers. It will be the equivalent of Mint.com for comm/industrial buyers of retail electricity and gas. With this service, clients can evaluate price offerings and compare them to market prices for the first time; they can track, benchmark and forecast energy usage and spend. The MWh provides clients with actionable information, analysis and guidance. Myrio - Ivana Marsic Myrio is a multimedia software solution that increases customer attention and satisfaction for vertically integrated retailers. NetAdventures, Inc. - Cara Greco NetAdventures connects companies targeting the $142 billion dollar gay travel market with gay and lesbian travelers who use the site to plan vacations. New Equity Business - Chinwe Onyeagoro New Equity Business is a small business financing matching and referral site that transforms the way millions of small businesses are capitalized. Ollie Me - Teresa Long Ollie Me is a social media site for teens that focuses on project and interest based interaction between users to create more meaningful on and offline friendships. Orbis Biosciences - Maria Flynn Orbis Biosciences provides controlled-release delivery technology to companies looking to reinvent products. Using Precision Particle Fabrication, Orbis improves products to provide desired delivery rates. Personally Cool, Inc. - Hugh Brownstone Personally Cool is creating a product for effective, discreet and safe heat relief for the millions of women suffering from menopausal hot flashes. Px Healthcare - Anne Bruinvels Px HealthCare delivers vital online tools empowering people to access quality, personalized health care support. Radish Systems - Theresa Szczurek Radish 2.0 develops, sells, and supports ChoiceView - a patent-pending Communications as a Service (CaaS) technology platform, which is improving the way businesses communicate with smart mobile device users by allowing visual information to be shared during a phone call. Scribble Press - Anna Barber Scribble Press is the first multi-channel publishing platform for kids, with a mission of inspiring and celebrating creativity in children 5-12. Slick Flick - Maria Constantinescu Slick Flick is a mobile app that allows users to upload photos and add text to virtually storyboard and distribute their material. Sylvatex Biofuels LLC - Virginia Klausmeier Sylvatex Biofuels will commercialize our patented microemulsion technology, which significantly reduces air pollution through a clever, efficient use of renewable resources. This renewable fuel will be compatible with existing diesel engines, distribution infrastructure, and other emission-reduction technologies. To-Go Ware - Stephanie Bernstein To-Go Ware is the brand leader in sustainable foodware, with products that provide a solution, tell a great story and are enjoyable to use. Back to top Astia News Astia CEO Sharon Vosmek to be Honored as "Community Service Innovator" During 53rd Annual TechAmerica David Packard Medal of Achievement and Innovator Awards, October 11, 2011 Read more here. Astia named as organization to support: "Support Women Running Growth Businesses," by Karen E. Klein, Bloomberg Businessweek, Sept. 30, 2011 Read more here. Astia named as key organization: "Best Cities For Women In Business," by Meghan Casserly, Forbes, Sept. 29, 2011 Read more here. Astia CEO, Sharon Vosmek, named NOWLeader Read more here. Astia named as key organization to support by Kauffman Report: "Untapped potential holds promise to grow US Economy" Read more here. Astia named as key to job creation: "Women-Led Startups Are The Key To New Job Creation: Report," by E.B. Boyd, Sept. 28, 2011 Read more here. Astia named in: "Organizations can help women run the show," by Susan Smith Hendrickson, San Francisco Business Times, September 23, 2011 Read more here. Astia named in: "Herman Trend Alert: High Growth Women Entrepreneurs Poised to Transform Economies" Sept. 15, 2011 Read more here. Astia, CEO interviewed: "Female entrepreneurs represent the the power of an untapped market," by: Joyce Slaton, Special to The Examiner, Sept 15, 2011 Read more here.		In This Issue Message from the CEO Astia News Client News Sponsor Spotlight Market Spotlight Astia Event to Watch Become an Astia Sponsor Join the Astia Community Support this important work Become an Astia donor! Astia is a 501(c)3 charitable organization and its work is supported by individuals, corporations and foundations. >>Click here or send your check to Astia: 833 Market Street, Suite 605, San Francisco CA 94103 Join the Astia Challenge Grant! Already Astia community members have donated over $70,000 in the hopes that you will help match their gift. To ensure your donation counts towards the match, email Sharon Vosmek. If you would like to donate stock, please contact Catherine Berman. Astia Blog Notes Join our ongoing discussions at Astia Notes You can now follow Astia on Twitter: Sharon Vosmek \| AstiaSF \| AstiaEurope \| AstiaNYC \| AstiaIndia Astia Sponsors Become an Astia Sponsor Astia Investor Advisory Council JOIN Astia's Investor Advisory Council Alloy Ventures Alsop-Louie Partners Andreessen Horowitz AOL Ventures Asset Management Company Azure Capital Band of Angels CalPERS Citi Ventures Draper Fisher Jurvetson (DFJ) Eghosa Omoigui Garage Technology Venture General Mills Ventures Golden Seeds Illuminate Ventures Incito Ventures Mohr Davidow Next World Capital Olympus Venture Capital Opus Capital Palomar Ventures Prolog Ventures Rose Tech Ventures StarVest Partners TiE Angels XG Ventures How to Get Connected Silicon Valley siliconvalley@astia.org New York nyc@astia.org Europe europe@astia.org India india@astia.org
Back to top Client News Improve Digital wins the Deloitte Rising Star Award 2011. The company provides technology to help premium web publishers generate more revenues from online advertising. Read more here! Sports Endeavors, Inc announces acquisition of Vivo Girls Sports, Inc. vivoGS is a thriving online community and resource for teenagers and young female athletes who share a passion for sports. The acquisition will enhance Sports Endeavor's recent launch of HERosport, the female brand extension of SOCCER.COM. "Half the young athletes in this country are girls. vivoGS has done an excellent job tapping into what they need and want in order to play their sports and to communicate with each other. This brings an influential, very sophisticated audience into the SOCCER.COM community," says Brendan Moylan, Sports Endeavors, Inc. co- Founder and COO. Read more here Back to top Sponsor Spotlight: ideaSpace Enterprise Accelerator UK-based ideaSpace funds Astia! The ideaSpace Enterprise Accelerator (iEA) is pleased to announce its Funding Programme projects for 2011-12. Each year iEA issues an open call for proposals from potential partners to create projects that contribute to iEA's mission, to foster an inspiring culture and enabling environment for innovations with potential global impact, and contribute to the economic development of the east of England. Astia was selected as one of four organizations who will deliver programs to entrepreneurs. Read more here>> Back to top Astia Market Spotlight: 2Q 2011 Life Sciences VC Market Trends US venture capital funding for the life sciences sector, which includes biotechnology and medical devices, leapt 37% during the second quarter of 2011, according to the MoneyTree Report from PricewaterhouseCoopers (PwC) and the National Venture Capital Association (NVCA). Venture capitalists invested $2.1 billion in 206 life sciences deals, delivering the seventh-best quarter since the MoneyTree Report began collecting data in 1995. Average deal size increased to $10.1 million, the fourth-highest quarterly average deal size of the last 16 years. Despite the quarter's strong performance, dollars invested in life sciences declined 3% when compared with the same quarter of 2010. Deal volume also decreased year over year by an even greater margin of 21%. Compared with the first quarter of 2011, deal volume looked more posi-tive, showing an increase of 12%. Back to top Event to Watch Astia Entrepreneur Program for 2011 Cohort October 10-14, 2011 The Program is open to all Astia Clients and Astia Advisors Location: Mon - Thur: Microsoft Offices, 835 Market Street, 7th Floor, San Francisco Fri: The Offices of Reed Smith, 101 Second Street, 18th Floor, San Francisco Designed by entrepreneurs for entrepreneurs, this week-long, intensive program is the on-ramp to the Astia ecosystem. The program enhances the entrepreneurs' ability to grow her businesses, attract funding, and build meaningful business relationships to achieve both. Through candid discussions led by investors, industry leaders and seasoned entrepreneurs, the program increases participants' understanding of the fundamental challenges of succeeding in high-growth markets, the current state of investment, as well as what it takes to succeed in a high-growth enterprise. A rigorous multi-day boot camp is followed by a comprehensive two-month program of personalized coaching from experienced professionals and the opportunity to start benefi ting from the global ecosystem of angels, VCs, corporations, and entrepreneurs that is Astia. Back to top
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