The future is female – Tech founders redefining the rules

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The future is female – Tech founders redefining the rules
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Worldwide, only nine percent of tech startups are founded by women, and the field of science, tech and engineering is to a large extent shaped by gender-specific disparities. At the same time, recent data has shown that women-led technology companies achieve a 35% higher return on investment that their male counterparts. This is why, now more than ever, it is paramount to invest in female-led startups and give women the necessary tools and access to succeed as entrepreneurs.
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talk is about empowering women I checked hours days beakers and I have to say we're really good because we're 50 50 so eco I have to say and then our 1st dog is called the futurists female Tech found redefining the rules I don't know a better if you know over 9 % only 9 per cent of tech startups are funded by women but recent data and just to prove that women or female let's companies achieve 35 per cent more of return on investment than their male counterparts so just saying I would like I would like to introduce to you early Steinbrueck she will be the moderator for the next she's um director of strategy and programs at Vodafone is it you and is welcome to the states it's yours it the I'm yes I would also like to welcome
on stage shower um penniless them I will work on Brenda Miriam under son I wouldn't use some shortly after we started our conversation um please I want you know I only as it was already mentioned I'm from the very from institutes and what is the what if institutes them it is a European think and eating of the firm and we explore the potential of future technologies and its impact on society and someone we tackle this problem and we actually focus on this question and it was quite striking that we
need to focus on women's participation in technology because in our view it is essential that women shape the future as well and start to get involved in and technology and and we need them in the work force of steam so we had to the idea as I'm making up an accelerator program focusing on female empowerment and technology and um we actually received 150 applications from 52 countries
and which was some quite nice because you realize it is a topic Worldwide's and there is a demand of women from all parts of the world and but before I start to talk about the program and why we did it and what we did in Berlin I would like to short so usually the view that we are have done after our 1st class after for
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the that good and we have fortunately 1 of the participants of here Brenner's he came from a gamma to be here today I'm and I would like to ask her ma'am what does he do sees the CEO of a fuzzy vision by the vision is a company that uses small by technology to improve I care and provides affordable eyeglasses to are made from recycled materials for school children elements over now what was your motivation to do this and to actually found yourself and use technology for your solution and especially because I know that work at Deloitte's and you have a secure in common so I'm probably a very good career ahead of us of fuel so what was
the reason why actually chose to to become an l will mostly for me as I was looking for the fulfillment in actually making a difference I I felt the GOP in especially health care and particularly I can't in my country and when I thought about what I could do that actually led me to start the company but leaving the job for me and knew that if I hadn't left the job I wouldn't have given of my company 100 % and I needed to give my company 100 % if I wanted to get to where I wanted to go this you have challenges as a
woman to do so what did your family or your environments and agreed to mn supported your in your in your your rate yeah lots of challenges actually before if if you're female fond of in Uganda especially in the
technology space because most of the people especially the core doesn't developers and engineers most of them male so when you come out and you have a solution and you're a woman very few people take it seriously because they think that your you should be probably doing a business in cosmetics for you know thank you which is good I am not saying it's not a good business but when you step it outside of the conventional female kind of business then they think you crazy and the the 2 probably 1 make yeah and that's something else that the inspires me as well every day to make sure that make
some inflamed is from an accelerator program that focuses on women and technology and we heard this before we
started our project from many women actually that they said that they don't like to have a project that are specifically made for women because they have this feeling that as positive discrimination you chose to do F. Lane why did you choose to introduce some new things like that and why don't you think that something like and flame is discriminating itself I think a flattened
and actually know that every didn't of land in your that my targets for before I was achieved and I applied for effluent because I so 2 things the 1st thing is that I saw it as an opportunity to learn my company is really young as we just made up and I wanted to learn to get the skills to get the teaching and learning that would get me given
mileage that otherwise would have may be achieved in the then could achieve in a short period and immediately after inflation and everything we've learned now we actually saw an opening a new store and and it's barely been a month since they left as secondly women we have a especially for all speak a lot about in Africa we have a little bit of an impostor syndrome somehow we don't feel like we're good enough even when you have the skills and you have the knowledge and still don't feel good enough you always think that you play 2nd soul Outline for this program and being part of all these other women that you are actually doing amazing things a 1 of the people had been commissioned by Forbes and such in the party 1 of the participants in the court and the people like that for me to give me a lot of emotional strength and motivation to actually keep doing what what I'm doing and that was the 2nd thing the reason that I applied for it I modulations on
your own opening and 1 month and I would turn out miriam miriam is the founder and managing director of ratepaying and say you have been a very successful entrepreneur for several years now and M. what's even more striking is that you are very active in in being a mental for women as well and you really active and different initiatives cyclamen digital and
before I asked a question why you think that mentoring is importan I would like to also ask you what was your motivation and back density actually found a company and do it yourself so my motivation was not so much about the women's thing so I never saw any women being role models that I could adapt so it just was not there no I was working in this in a very Nietzsche environments and payments however said that before Fintech was founded as I was working there since many years that started working in this style in the early 2000 so I grew up with an industry that was totally new and I was doing the almost always work together with men but I never felt like that I at that you know I don't belong to them I always felt really accepted and didn't have this feeling that they don't like me but we grew up together with a certain topic so actually and for me it was more or less that I really saw this gap that I really really wanted to do I really saw something that I had so much that the energy to in this in this of certain feel that I really I want to change something there and I really saw something that I so I want to do exactly this this is what I want to do as a job and I think they have and you get this when you find something that you really burn for I think and it's easier than to go through all these difficult things in and
in mining sector question would be because you are such mentor and you also agreed after 5 minutes to come here on stage to talk with us about women empowerment and why do you think role models and mentoring is some portend for fulfillment opponents on well the thing is in leadership you see many leaders to adjust men most of the time you
see men and when you don't see people that you might you know that you don't even you never think maybe as a woman that you can achieve this well I think this is 1 thing of finding a business that you have a vision that you can achieve it as well and when you see Maltese women that are maybe not mean they're not all super-smart and they they I mean I cannot program I'm I'm working in text but I'm not a programmer and I never thought I need to know everything always I just love the idea of new technologies and I think when you see people that are that are maybe a similar to new where you have a good idea but you are not able to do everything by yourself you might find reasons that you want to do it as well this is something I you know I said to you it might IP was your walking around the public I mean I'm a little bit older now already but you know when I was in my twenties there was not something like this and there was not even you never talked about women empowerment of women role models all my role models at that time were not the women it was more or less the people that I worked with us all my explores he was my role model to be on this because I always thought you know this guy he founded several companies and he was really he was really great guy what he was not smarter than me to be honest in his books that was always my thinking and I and then I realize that you know if you can do with it why am I not able to do that and I think the more people that you see that that they stand for something that you want to be and I think that it's easier to maybe find ideas in to maybe find companies whatever or do what you love me when you are
at home here implement several new tech networks and during evening hours
at room and you are woman I is still faced with serotypes scientists stills challenges that you would like to overcome or a default baby in 2017 you would have already done this time in the past
this for their stereotypes everywhere I mean you view them but it's sometimes also I have to admit that sometimes the women it's still people sometimes when they had to then that puts them themselves too much into stereotypes and think that to speak out lot of what they want to be and what they want to have an and I mean this stereotypes it's not only in the industry is also in our school so we have to change our that's the attitudes to have several things sometimes so also how we want to be as a women do as a woman and a woman how do we I don't know how how how it's our the way how we want to act sigh also this morning and spoke to the set this 3rd little team that I been buildings and like programming apps for and 3rd grade and they want to really get rid of the stereotypes of Hudsucker secrete idea because when you really get girls into this that there's not a big difference between the boys and girls and you really have to get rid of this generative at an early age and education is something I would I would really pledge for him at the end it's
all about money and I we have here is that he sees a business angels so she also has an investor perspective but also works as a business
adviser so she also knows what's going on in companies as well and the question to you and I that some investors
perspective what do you think do female farmers or investors have to change because we talk with lots of women out there is that they have the final pitch and they have a very good business case but at the end the guy gets the money so what do you think is a problem I think there is a need to evolve from the investor side as well as on the female founders just pitched differently now think about it this way the PC model in a sense is is broken and over 90 per cent of all the scene models nowadays or she said invest into companies a looking for the proverbial unicorn now most female founders they're not in it for the exit there had to solve a problem so it's a completely different mind-set now there are investors out there who are looking for exactly these types of investment opportunities and I think it's a matchmaker problem I don't think the money is missing it's really just a match-making problem between the 2 different types of set up you you're looking for what about the VC
boards most of VC boards have male investor's sitting in the sports and men women are still missing do you think it will everything will be changed when there are more women sitting in the board or is there some a utopia of I and I don't think it makes a
difference it's going to be a tiny bit of a difference maybe but don't mind set in itself has to change men as well as women have to change the mind-set of family officers so far more long-term thinking so they're probably to write up of investors however there very risk-averse so the whole industry in itself really has to change of does
it does it over all make a difference I don't think it can hurt that's for sure and will be enough but not probably not so on there are a couple of like the the most Founders Fund town there's Rising Tide which is fine young women core investing the into projects in the US and in Europe there's things happening in on on on that front so I believe we're going in the right direction and we just have to and to hold the investment community to make it go faster and do you think that the women in our because we also talk of lots of women
and they said they just prevent differently which is 1 2 and which you want % differently because we want to you know focus on different things and make sure that as he said changing and impact is 1 of the most essential parts of our business model and you think that women have to adapt to the investors meaning they have to present themselves differently to have to prepare for the pictures differently do you think that they have to you know sell them differently the did the ideas differently than men do war the I believe that the on the sea and private equity model as I said before hand is a broken system because the success
rates are just not there over 90 % of the investments that they do fail so do you really wanna play a game where you know all that the games already rig the question really years on get yes if you wanna play in that game you have to change you have to adapt to what the want means you have to think big which on women do but you have to be over promise basically that's why you have to do have over promising is just not in most of the female trace some promoters can men can also have some promoters but if you over promise you probably knew how this huge hockey stick it high risk business then you probably get some money now if you don't wanna do that if you wanna stay true to yourself then I think about it think about it that way it's a partner you're going to have these investors for 5 to 10 years in your company do you really wanna have people in the company that's in that way that really wanna have too high risk high scalable kind of business or are you looking for partners may be more on in the business angel area which are looking for growth and potential exerts afterwards but was less risk potentially having dividends in between as I said that the whole system is changing the business angels system is changing I was co-investment schemes now and I'm seeing a lot more B sees on were not only at the hockey stick picture looking for steady growth so I think if you are on the lookout for money and just give it a tiny bit more time but things are changing towards more sustainable businesses the
good before we open up some questions for the audience the because I saw that there are many women in this room so I would love to maybe also give them the opportunity to ask questions to our penniless I would them ask each 1 of you to just say 1 word how you would describe women in tech actually at this actual dates from what is your opinion about women
attacked and I just 1 word potential it there is no up-and-coming the future the future very did so are there any questions from
the audience because some as I said there was some and so many women out there but also man of course are allowed to ask questions today yeah on Cape and you I'm idemitsu baby I'm from Nepal I have a question to bend a if I can't have them properly K
on yeah I think it's not easy to start business for women actually in the developing country space early and then I'm just wondering to nor is there any policy incentives from Governments are and will number 1 and then number 2 all what is the source
linear must know the support you get to stack of and continue your bitterness thank you if you think you and
I'll talk about again that we don't really have a policy for business women but said that all indications system of when we when girls get to university level the gets an extra 1 . 5 point that gets
them an an advantage over the boys to encourage them to get a degree soul that's as far as of the policy supports women but when it comes to business it's a level field women men it's the same and secondly emotional support and it's actually really important social emotional and what I usually do they normally I stay within the company of other women that I see are actually the there are ahead of me all I really what had to get there when you when you when you're in that kind of company you realize that you are actually faced the same challenges it no way and everything cuts across and you support each other so I think that wherever we at every woman as supports the other then I know that 1 day we'll get to a point where it's no longer a question of is it female is it Milford founded so yeah but I think and the and all my name is Martin
marching cough after the head of the digital media women we also thinking about how we can raise the number of women in in in in in intact and I was on a panel discussion on and off Mr. the week before last week with an government official and I asked the question why aren't there any
diversity criteria on the government side to then they found start ups why do they support a system where 9 out of 10 startups the answer was that's what I wanted to you don't 1 and you don't want more success failing failings part of the system and it's not possible to involve any criteria of diversity how should it be done I wish I could have given the answer I maybe you have an answer for me for the next panel actually
know that the German accelerator being funded from them Ministry of Economy and them they just had an event and there were only made of start-ups and presenting themselves for example I think if you have some pumping money spending to
2 private start-ups I think you should make sure that you also from seaman's start ups and even you know make it the cold to beginning if you say OK maybe we just and I want to have top 10 sort of sum of 10 make we have to make sure that these 3 of them have female founders and I think it will be on my journey but I think it also um ministries have to start you know to think how we can proceed but this and and have to change maybe their day-to-day selection procedures and I'm I'm not saying that by mfrow quote out but I think that maybe we have to think about or rethink our selection process and these things it
says 1 point at is certain the I was working with all us already know I know you and I mean we do S. Lane does but I don't know any other initiative at the moment maybe I can add to stir uh
attached so I'm I'm from Luxembourg originally and the Ministry of Economy have the same type of program now we are discussing with them right now to to
on gets some quotas involved for the programs that they have specifically and I however what they wanted 1st was an incubation of program for women because they said they cannot have quotas if there's not enough on the final from the beginning so I think that's really important to make sure that we have that final full but not doesn't have to be 50 50 but at least 60 40 and that way you can really put some pressure on the government as well to get that even if it's not put button naturally it's quarter are naturally doesn't really matter but we have to get some more diversity into these programs I agree I
think we have 1 more question or what time for 1 more question for that high and my name is mary I'm originally from a construction company and we had a lot of questions about how female founders are supposed to be so supported that may be a question what can we do ourselves so for example I do have an idea I do have an idea what I want to do but as you said
earlier I do not have the skills for it I work intact but I'm not a programmer I'm not an AI specialists where do I actually find the people to work with before even starting to raise money just to get a prototype for example it's difficult as Stewart's good if you have good networks and
minimum my examples I was in the industry had a good networks I got to know people I got to know people that know how to program that had some further ideas that Yang construction and don't if there is some and observe some Twitter groups of people that you could might connect I'm also there's also like the digital that they're like tag ladies so more and more like a
thing networks also forming on certain topics and I and I don't know I'm not so much into construction I cannot tell you uh if there is some that work there but this helps often connect the people that do work and technology the problem this Mike thank you I the problem is that in construct the
network on digitalization itself is very wary small and the female quota in digitalization or in constructing evil is even smaller but when you do it together with the man I means also but if you have layout time men were into the the
the get out to to they have really but we can
also meet after was because I think we were running out of time I get this little signing on so may we you can come weights of 2 minutes and we just year and and will discuss further how we can actually help you to get so that the bid networks and I would like
to thank everybody on this panel for their time and also for flying in from Luxembourg grammar Annals for common from land and thank you for the audience and as I said we hear don't for while so if you have further questions the purchase any time we would love to discuss further things that you think is so much
at Miami