{"id":41252,"date":"2023-10-20T15:12:41","date_gmt":"2023-10-20T15:12:41","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/australias-leading-female-founders-on-the-biggest-challenges-they-face-in-a-male-dominated-industry-it-takes-a-village-to-keep-you-sane-as-an-entrepreneur-startupsmart\/"},"modified":"2023-10-20T15:12:41","modified_gmt":"2023-10-20T15:12:41","slug":"australias-leading-female-founders-on-the-biggest-challenges-they-face-in-a-male-dominated-industry-it-takes-a-village-to-keep-you-sane-as-an-entrepreneur-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/australias-leading-female-founders-on-the-biggest-challenges-they-face-in-a-male-dominated-industry-it-takes-a-village-to-keep-you-sane-as-an-entrepreneur-startupsmart\/","title":{"rendered":"Australia’s leading female founders on the biggest challenges they face in a male-dominated industry: \u201cIt takes a village to keep you sane as an entrepreneur\u201d – StartupSmart"},"content":{"rendered":"
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Access to funding and breaking into “boys’ club” investor circles are the biggest challenges Australia\u2019s leading female tech entrepreneurs face.<\/p>\n

Scrunch CEO and co-founder Danielle Lewis, who left a male dominant corporate sector to launch a startup, was shocked at the sheer lack of women in the ecosystem.<\/p>\n

\u201cThis brought plenty of awkward networking events, rude comments and knock-backs, however, I never lost my stride and pushed through to find a passionate group of supporters for our startup,\u201d Lewis tells StartupSmart.<\/em><\/p>\n

Over the past five years, Lewis says there have been some promising shifts, with more women-led VC funds like Atlanta Daniel\u2019s Signal Ventures<\/a>, and a growing number of female-focused tech and startup networking events<\/a>.<\/p>\n

\u201cIt’s exciting to be a part of,\u201d she says.<\/p>\n

But the funding issue is echoed across a prominent group of tech leaders who will be speaking at the upcoming Creative3 conference in Brisbane.<\/p>\n

Access to funding is the biggest challenge That StartupShow<\/em><\/a> producer Anna Reeves faced.<\/p>\n

\u201cIn Australia, currently only 5% of female founders of tech-based startups are funded, so my immediate question is: why?\u201d Reeves tells StartupSmart.<\/em><\/p>\n

Stringr CEO Lindsay Stewart says it boils down to how people in society relate with one another.<\/p>\n

\u201cOne of my favorite professors, Ethan Mollick at The Wharton School, has done research on women entrepreneurs and funding of startups,\u201d Stewart tells StartupSmart.<\/p>\n

\u201cHe\u2019s found women statistically have more successful startups, however, funding of them through traditional VCs is vastly lower than their male counterparts.<\/p>\n

\u201cUpon a cursory look, you could call that misogyny, however, I believe it\u2019s more an issue of how we relate to others. Men relate to other men better because all male investors were once or are young men.\u201d<\/p>\n

Stashd founder and CEO Jessica Wilson experienced the problem of relating first hand when she launched her app at the age of 22.<\/p>\n

\u201cIt was very black and white when it came to people’s interactions with me at networking events and I would be the only woman or one of three maximum at events,\u201d Wilson tells StartupSmart. <\/em><\/p>\n

\u201cPeople would either see the value and the vision or they wouldn’t. I definitely got mistaken for an intern as opposed to the CEO in the early days but this only made me more driven.\u201d<\/p>\n

Stewart says investors can play an important role in turning the statistics around.<\/p>\n

\u201cFoster those who have great business ideas and make sure they stay in the game long enough so they can become silver ladies making investment decisions,\u201d she says.<\/p>\n

Technology Will Save co-founder Bethan Koby says the lack of women among tech and VC circles doesn\u2019t mean there aren\u2019t talented ones out there.<\/p>\n

\u201cFind them,\u201d Koby tells StartupSmart.<\/em><\/p>\n

Wilson adds that female founders should not be depicted as a handicap.<\/p>\n

\u201cThe way we change that is by setting examples,\u201d says Wilson.<\/p>\n

\u201cWe need female founders to rise up and be the example, and the only way we can do that is by supporting them, investing in them, and celebrating their successes.\u201d<\/p>\n

These prominent Australian entrepreneurs share four key tips for new female entrepreneurs with big ideas.<\/p>\n

1. Just do it<\/h3>\n

To women entering the entrepreneurial game, Reeves says they should move forward and be tenacious.<\/p>\n

\u201cTenacity is what keeps you going that bit further everyday in the face of many challenges,\u201d she says.<\/p>\n

If she could go back in time, Lewis says she would tell her younger self to start something sooner.<\/p>\n

\u201cEverything is a process and an opportunity to learn. What will be, will be and if you work hard, the success will follow,\u201d she says.<\/p>\n

2. Outline what you want<\/h3>\n

To ensure you keep moving forward, Stewart recommends making a list.<\/p>\n

\u201cStartups have their tough days, but if you are willing to write down the five things that are critical and work on them each day, you will build something,\u201d she says.<\/p>\n

3. Get what you want<\/h3>\n

Learning to negotiate is a critical skill<\/a>.<\/p>\n

\u201cSome may think it\u2019s not lady-like, but remember anything said with kindness that\u2019s reasonable, well, is reasonable,\u201d Stewart says.<\/p>\n

4. Build a team to run with you<\/h3>\n

\u201cGet a partner or co-founder, working at it alone is really tough and most investors won\u2019t take you seriously,\u201d Stewart says.<\/p>\n

A solid network of support on top of that can go a long way.<\/p>\n

\u201cIt\u2019s okay to ask for help on occasion, which I am really bad at,\u201d Reeves says.<\/p>\n

\u201cWhether it\u2019s asking for advice, support, or even emotional support \u2013 it takes a village to keep you sane as an entrepreneur.<\/p>\n

\u201cIt\u2019s also important to respect the time of people who may help you and acknowledge your gratitude.\u201d<\/p>\n

Follow StartupSmart on<\/em> Facebook,<\/em> Twitter, LinkedIn and SoundCloud.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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