Rose Levy, 646-660-8641, email@example.com, Goldin Solutions
Barbara Pruitt, 816-932-1288, firstname.lastname@example.org, Kauffman Foundation
Kauffman unveils latest sketchbook video at We Own It Summit, a meeting aimed at increasing women's participation in high-growth entrepreneurship
(NEW YORK) June 28, 2012 – Women face greater challenges than men in getting financing for their companies, which is one of the reasons why this untapped population is not scaling businesses. The underlying causes for those challenges are spelled out in the latest Kauffman Foundation sketchbook video narrated by Alicia Robb, a Kauffman senior research fellow and one of the authors of A Rising Tide, a new book that delves into the topic of financing strategies of women-owned firms.
"You hear a lot about the number of women-owned businesses growing faster than firms overall, but that's really just a reflection of the lower base," Robb says in the video. "If you look at revenues or employment or payroll, [women-owned firms] are not growing faster than male-owned businesses; they are actually growing slower."
The video debuted today at the We Own It Summit in New York before some 200 entrepreneurs, investors, academics, government and media representatives, and non-profit and industry leaders who gathered to create a roadmap for increasing women's participation in high-growth entrepreneurship. In the video, Robb calls for finding ways to get more women into the networks that will open doors to capital.
"The data highlighted in this video tell the back story about what's limiting women from building scalable firms," said Lesa Mitchell, Kauffman vice president of Innovation and Networks. "We are at this Summit to write the future narrative for how to encourage women to overcome the barriers to high-growth markets. Our nation's economic growth depends on it. That's why we are calling this the Decade of the Woman Entrepreneur."
Launched in 2009, the We Own It Summit is an alliance of more than 70 organizations from around the globe committed to increasing women's participation in high-growth entrepreneurship. The group's goals for the next decade are to:
- Increase the number of women high-growth entrepreneurs;
- Increase likelihood of success of business at the growth stage;
- Increase the number of women investors; and
- Increase the number of women on boards.