A new coalition in Virginia, represented by Kate Byrne and the film “Show Her The Money,” seeks to address the fact that less than two percent of venture capital funding is allocated to women-led businesses, promoting angel investing and women’s empowerment in entrepreneurship. The coalition will host a Women’s Summit during the TomTom Festival, aiming to inspire and educate female investors and founders.
A new initiative in Virginia aims to tackle the alarming statistic that less than two percent of venture capital funding is allocated to female-founded enterprises. The recently released film, “Show Her The Money,” highlights this disparity, illustrating the systemic barriers that women face within the venture capital domain. One participant notes, “If you think about all the technology companies that we know about today, they were all funded by venture capitalists early on. Historically women have been shut out of the venture capital world. It has been on purpose. Money is power, and this is a very lucrative industry. Someone needs to do something about this.” Kate Byrne, a Virginia-based advocate for change, echoes this sentiment. She reflects on the lost potential for innovation: “Think of the ideas and the products and more importantly the solutions to some of the world’s biggest problems that we’re missing out on.” Byrne’s upbringing in Northern California, against the backdrop of significant technological advancements, equipped her with a strong financial acumen, a mindset she emphasizes is crucial for success in entrepreneurship. Her mother instilled the belief that financial independence provides the freedom to make choices: “She just drilled in my head – Katie, volunteering is lovely, but make money, because money gives you choices.” Byrne also champions the role of angel investors who prioritize purpose-driven investments that foster positive environmental and social impacts. She asserts, “More often than not they do have a purpose-driven aspect to them … Why would you not take care of people, planet which will eventually give you profit?” In Virginia, Byrne is among a growing network of angel investors contributing to a more inclusive entrepreneurial ecosystem. Notable organizations include Citrine Angel in Northern Virginia, Sandbox in Richmond, and the Charlottesville Angel Network, among others. In response to the pressing need for female representation in investment, Byrne co-founded the coalition “Ascending Angels.” This group aims to cultivate knowledge among female angel investors and founders, facilitating a supportive environment for sharing ideas and learning. She remarks, “People feel safe or comfortable asking a dumb question or admitting they don’t know. Everybody is very open and supportive.” The upcoming TomTom Festival, scheduled for April 16-20 in Charlottesville, will host an Ascending Angels Women’s Summit, featuring screenings of “Show Her The Money” and subsequent panel discussions. The event will be held in Charlottesville’s CODE Building, offering free admission via Eventbrite.com. Overall, these collective efforts highlight the pressing need to not only uplift women within the venture capital space but also to harness their untapped potential to drive innovation and social change.
The venture capital landscape has historically been characterized by significant gender disparities, with a minuscule percentage of funding directed towards enterprises founded by women. This lack of access not only stifles female entrepreneurs but also limits the overall diversity of ideas and solutions within important sectors. The film “Show Her The Money” aims to bring attention to these issues by spotlighting the systemic barriers faced by women in gaining venture capital funding. Kate Byrne’s advocacy illustrates a broader movement to rectify these inequalities through establishing supportive networks for female investors and entrepreneurs in Virginia.
The efforts outlined in this article underscore the vital need to address gender disparity in venture capital funding. Innovations like “Show Her The Money” and initiatives from organizations such as Ascending Angels represent crucial steps towards empowering female entrepreneurs and investors. As these efforts gain momentum, they not only seek to elevate women’s voices within the financial sector but also strive to unlock a wealth of untapped potential that can lead to transformative societal benefits.
Original Source: www.wvtf.org
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