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Message from the CEO

A design that works
When I am asked why so few women participate in [insert any of a variety of areas that apply to high growth entrepreneurship] - I am loath to answer the question. But that does not mean I am not thinking about it. It means the answers are not easily put into a tweetable sentence and I know I am going to loose my audience if I start geeking out about what I see to be the reality of the situation and the opportunities to affect change. But here in the Astia newsletter, I can take a breath and share my thoughts in the clearest terms available to me.

In fact, I have been spending quite a bit of time thinking about what I see to be the fundamental design flaws in the high growth ecosystem and how we invest the time and talents required correct these flaws. In other words - how do we redesign the ecosystem that supports entrepreneurs to better support women entrepreneurs?

Sharon Vosmek
Sharon Vosmek
CEO
What is the design flaw?

As I see it, the high growth ecosystem is burdened with a societal challenge that it has not acknowledged and therefore has not effectively addressed within its own construction. Here in the US, men and women continue to be in separate business networks (same in Europe, Asia, Africa... you get the idea). 

 

Every time someone in the high growth ecosystem asserts that it is a meritocracy, we lose an opportunity to discuss the underlying assumptions that created this ecosystem and how these assumptions must be challenged before we can achieve the lofty goal that meritocracy is. Yes, I said it, meritocracy is a goal, not a foregone conclusion.

 

First and foremost we must consider the assumption that we can all easily connect with each other - and that if you open your doors for business (as a VC, Angel, conference organizer, accelerator, network, etc) you are welcoming all equally. This is simply not that case.  

 

The truth of the matter is that men and women do not easily do business together - anywhere. We have plenty of proof. In every setting where a network is the means of access, the percentage of women who achieve access hovers well below 15% (think board rooms, executive suites, investment deals - yes, even within elite engineering teams).  

 

Why does it matter to me?

There are many reasons that this societal design flaw endures even in 2013. But for our purposes, I don't think it matters. What I think matters is that we need to acknowledge this, learn from it, and then actively address it. That is - if we want to remain competitive.  

 

At this point if you are not aware of all of the research about why inclusive environments win - you have some reading to do to catch up with the class. Trust me - it matters. [Here is a video I like if you are too busy to read.]  


What can I do?
If we want to be better - and I know we do because we are the innovators, the dream-makers, the entrepreneurs who make stuff happen - then we must intentionally do better.  

 

This means we need to get out of our comfort zones and get uncomfortable. Men - you need to add women to your business networks. Women - you must add men to your business networks. Play some tennis. Go for a beer. Share a meal (food always works for me). But do it with others who do not validate your sense of who you are - but actually challenge you. And in all you do, think about your own role in redesigning this ecosystem. If you are a conferenece organizer who cannot get women to attend - challenge the design of your conference instead of focusing on fixing the women who do not attend. If you are an investor who does not see women-led startups - challenge the network you have rather than assume women do not run backable companies.     

 

For those of you already engaged in the Astia redesign of the ecosystem - thank you! I continue to marvel at all that you do for Astia. As you have heard me say over and again - Astia is a community - of men and women - Astia is you!  

 

Cheers,

Sharon 

Astia Calendar
Astia welcomes Teresa Nelson 
Teresa Nelson will join Astia as an Executive in Residence 2013-14 working with the leadership team on special projects. 
Teresa is a Professor of Strategic Management and Entrepreneurship in the MBA program at Simmons College in Boston. She is also a member of the Astia Global Advisory Board and of the Steering Committee for the We Own It Summit.

At this year's Summit in London, she played a pivotal role in creating and managing the program of salons and One-on-One conversations and also co-launched the associated Academics Summit Conference (with Alicia Robb of the Kauffman FTeresa Nelsonoundation) which gathered scholars from Spain, Italy, China, the UK, and US to consider research on women high-growth entrepreneurs and their ventures. 

Teresa is an expert in the topic of entrepreneurship, especially around issues of growth, founding teams and high-potential organizations. She wrote her dissertation on the governance of new firms up to IPO, particularly around board formation and organizational performance and continues working in this area. Teresa is also an acknowledged intellectual leader on women high-growth entrepreneurs.

She is a member of the Scientific Committee for Women Equity for Growth (Paris) and the Women's International Center for Economic Development (Liverpool).

In announcing the appointment Teresa states, "It is an honor and a pleasure to work with the Astia team on a continuing basis. Of all the conversations and efforts on women entrepreneurs now going on globally in a variety of venues, Astia is outstanding in their approach and capabilities. I believe this is the Decade of the Woman Entrepreneur and Astia is a key player."
Astia is You! 
You are critical to the mission.

Refer a Company: Astia considers companies all year long and presents them for investment every month.

 

If you know a world-class, woman-led start-up seeking capital, expertise, and a global network make an introduction to Catherine Berman: [email protected].  

  

Qualification Criteria

  • An innovative product or offering in a high-growth sector such as Technology, Life Science, Clean Tech, or, in certain circumstances, high-growth Consumer products or services 
  • A high-growth investment opportunity - at any stage of growth 
  • An exceptional team, product, and business strategy
  • A significant market opportunity with initial customer traction or feedback
  • A defendable competitive advantage
  • At least one woman in a leadership role (at C level) and in a significant position of equity and influence
Astia Company News

Astia companies in the news and Astia members writing it!

Sponsor Spotlight
Astia is honored to announce the renewal Microsoft logoof Microsoft's support of the organization for the 10th consecutive year! Thank you for providing such a strong endorsement of the Astia mission.

"As the barriers for entrepreneurs to build and grow  companies keep falling, the paths to innovation are more varied. The profiles of entrepreneurs are increasingly diverse, and the associated needs to succeed are myriad. Microsoft support of Astia ensures that our commitment to a diverse global startup ecosystem is not only strong, but being advanced in a relevant and compelling way." - Microsoft Corporation


A gracious thank you to The Althea Foundation for their renewed support in 2013, marking their 8th year of renewal! The foundation directly supports our work with women-led companies in Europe. Founder and Chairman Alexsis de Raadt St. James has been an exceptional champion. Thank you.
Astia Angel News

Astia Angel Announces its first two investments!

 

 

The next member meeting will be held on September 26th in San Francisco. If you are interested in joining Astia Angel, contact Sharon Vosmek ([email protected]) or 415-421-5500.

 

Did you know?
  • Over 2500 hours were volunteered for Astia companies last year - that is more than 300 working days!
  • Women represent the most underused source of entrepreneurial potential in Europe

    (source: European Commission, Report on the results of public consultation on the Entrepreneurship 2020 Action Plan, 29 November 2012)

In This Issue
Astia Calendar
Astia Executive in Residence
Astia wants you!
Astia Company News
Astia Sponsor Spotlight
Astia Angel
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