Why Smarter Cities Need More Women Entrepreneurs

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AppId is over the quota
What puts women off starting up a technology business - and what can we do to change the situation?  

It’s surprising, because whenever I attend technology-focused events or awards, as a mentor or as an observer, my mind is always fizzing with the possibilities for days afterwards. At these events, you really do get a feel for the way that smart technology changes our lives for the better.

Sadly, research backs up what I have seen at the everywoman and other awards 
However, things are starting to change.  I’m again acting as a mentor to technology entrepreneurs at the IBM SmartCamp KickStart in London on October 5. This accelerator aims to help entrepreneurs including women from the UK and Ireland to nurture their early stage firm to next stage growth and success.  

At the event, entrepreneurs put their company’s business forward for scrutiny by a panel of technology experts, venture capitalists and IBM’s technology leaders.  The winning entrant is then nurtured over an entire twelve month period - accessing global networking circles, technology support and, potentially gaining access to next stage funding.  Past winners have included an analytics system for mobile applications and pricing software for retailers.

This year, the programme, with its tie-in to IBM Smarter Cities Summits addressing urban sustainability issues, is particularly seeking ideas to help build more intelligent infrastructures for our cities, contributing to more sustainable living.  

As a judge, you are particularly looking for the reason why the entrepreneur set up the business; did they see a particular market niche? Are they on a mission to change the way things are done?  I’m very interested too in how our start-up CEOs got their business off the page.  Too often, people forget that for every start-up that is successful, there are quite a few failures.  The founder’s passion for their invention or idea is as big an indicator of the overall resilience of the business as a clear market niche or well-researched business plan.  

The mentoring process sees the judges challenge the start-up’s business model. That’s when entrepreneurs start reaching out for ideas and advice and get support from their mentors.  It’s fascinating to watch this process: even the cleverest, most creative people always need input and ways to maintain that brand and the entrepreneurial spirit that drives it.  

IBM SmartCamp KickStart isn’t the only technology programme for young start-ups. However, this event – influenced by the Smarter Cities agenda – is focused on using technology to address issues such as sustainability and smarter use of the planet’s resources – and do so over the longer term.  

As a result, the programme combines both insight from business leaders with financial support.  Together with the judges’ expert advice, the event also opens the door to longer term financial support for winners: since November 2010, programme finalists have raised more than £30 million in VC funding between them.   

Events like this act as a vital catalyst for early stage businesses.  If there is a fault with some start-ups that I see, it’s the owners not really taking the risk, accelerating the product launch or getting expert help to drive the business forward.  

IBM SmartCamp KickStart naturally wants innovations from the UK and Ireland’s sharpest young companies but I believe it also offers the opportunity to women entrepreneurs to redress the gender imbalance in business start-ups. After all, from working with thousands of female entrepreneurs over the last few years, I know that women are just as practical about and interested in saving the planet as men.  

Entry to IBM SmartCamp KickStart is open until September 14. Details at:
http://ibm.co/eUTEVg

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Karen Gill MBE is a Co-Founder of everywoman.

I would like to offer you a free copy of The Navigator, which is a practical guide that focuses on the challenges women encounter in their business life. It brings together thought leadership from everywoman experts, and anecdotal business experience from everywomanClub members.

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Ten Years of Exceptional Female Entrepreneurs Celebrated

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With over 3000 nominations and more than 130 winners and finalists recognised – the NatWest everywoman Awards have achieved in the past ten years exactly what they set out to do – uncover talented women of all ages overcoming obstacles, and platform them as entrepreneurial ambassadors. Every year in December, around 300 people join together at The Dorchester Hotel to celebrate female entrepreneurs who are breaking the mould and creating hugely successful businesses. This year was no exception to rule – we were joined by a group of truly inspiring female entrepreneurs – but, with more reason to celebrate - a decade anniversary.

We had the delight of hearing the stories of so many successful women – from Kate Mosse, founder of the Women Prize for Fiction, who took home the Spirit of everywoman Award, a thriving woman in the arts, to Amanda Wakeley OBE, one of the truly great British designers, who graciously accepted the Ambassador Award.  Our NatWest everywoman Award went to Liz Doogan Hobbs MBE of Liz Hobbs Group, an organisation which provides music concerts after sporting events – revolutionising the industry. Turning over an impressive £7m annually, Liz accepted the award with the thanks of her team – “you’re only as good as the people around you”, she explained.

There were so many other incredible winners on the day, from Julie Deane of The Cambridge Satchel, who set up her company to fund education for her children, to Elli Chapman from Culture Works East, who suffers from Hypermobility Syndrome, yet still managed to establish herself as an incredibly successful female entrepreneur. As well as the 2012 winners and finalists, the room was filled with so many other inspirational women who had taken home awards from the past ten years.

With speakers such as the Minister of Equalities, Jo Swinson and Dame Mary Perkins, patron of the awards and Founder of Specsavers – it wasn’t only the winners and finalists that left a lasting impression on the guests. Dame Mary Perkins made her entrance with none other than James Bond – an entrance as grand as one would expect from a woman who has established one of the UKs most successful businesses – Specsavers, more than 45 years ago. Jo Swinson was another inspirational speaker – expressing her strong desire to improve gender equality in organisations around the UK and establish equal pay across both men and women. Olivia Sterns, one of Bloomberg’s leading reporters, was the compere and another fine example of a woman excelling in her role in the media.

What the Awards have done, and continue to do, for the UK economy is, in my eyes, exceptional. The day, although incredibly lavish and wonderful, doesn’t stop at The Dorchester - it goes way further than that. With the help of a little bit of word of mouth and the beauty of social media, the day has the capacity to encourage other females to follow their dreams, just like the winners and finalists. Only by showcasing these successful female entrepreneurs as role models will other women then feel inspired to create their own businesses.  By encouraging females around the UK to start businesses of their own; the UK economy will grow and thrive – something that is an absolute necessity today, and for the future.

Watch the ten year anniversary showreel of the NatWest everywoman Awards >>

View the winners of the 2012 NatWest everywoman Awards >>

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Barriers to Female Entrepreneurs: FSB and everywoman Roundtable Discussion

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AppId is over the quota

everywoman and the Federation of Small Businesses (FSB) hosted a roundtable discussion in Parliament on Monday 26 November. As part of the FSB Real-Life Entrepreneur campaign everywoman have been working together with the FSB to look at the barriers facing female entrepreneurs - issues that make it harder for women to set up a business or discourage them from growing their business. In the UK alone, 150,000 additional start-ups would be created per year if women started businesses at the same rate as men.

Hosted by Jenny Willott MP and attended by Stephen Lloyd MP, Chi Onwurah MP, Lorely Burt MP, Baroness Howe of Idlicote, Lord Cotter and Maxine Mawhinney, BBC the focus of the discusson was ‘Barriers to female entrepreneurship’. Talking about their own personal experiences as women business owners were several everywomanClub members, as the voice of women in business from a variety of sectors, including:

Lorraine Heggessey - Executive Chair, Boom Pictures (ex CEO of Talkback Thames and ex BBC Controller) - Media sectorAnnette Nabavi - Partner, AHV Associates LLP - Technology sectorCamilla Shaughnessy - CEO & Founder, Eventful stays - Travel & TourismAnne Walker MBE - CEO, International Dance Supplies Ltd - Retail sectorFollowing an introduction by Jenny Willott MP and Mike Cherry, National Policy Chairman, FSB, everywoman founders Maxine Benson MBE and Karen Gill MBE briefly shared some of their experiences in setting up a business. They also shared their focus on making the issue come alive – the theory is often spoken about but real life stories are what we need at this stage – role models of women who have achieved success in setting up their own businesses. The debate was then over to all participants – all agreeing that there is much to be done concerning the image and stereotypes of entrepreneurs through the media. We need to change the aspirations of girls and ensure that they see entrepreneurship as an option, but not just in the ‘reality tv’ sense – it has to be realistic.   

The question was raised as to why entrepreneurship is so much more respected in the US. This applies for both men and women, but there does seem a real difference in attitudes between the US and UK. In the US, it was felt there is a real sense of the intrinsic business value of procuring from women led businesses. In addition to this the attitude in the US seems to celebrate entrepreneurs – across the board – interestingly, even when the businesses fail.

The reasons for women starting businesses were discussed – often this does tend to be aligned to having children – this is both an enabler and a motivator. Women who need greater flexibility due to having children are perhaps more likely to consider the freedom of entrepreneurship. There is however a caveat to this – without sufficient funds they struggle to pay for childcare, and running a successful business whilst providing childcare is near impossible. Our four representatives shared their experiences in setting up businesses in the early stages, all agreeing just how hard it is at the start. A common theme was that without enough funds to sustain the business, it is all too easy for women to give up. Successful businesses take time to grow and the risk is that women simply aren’t getting to that stage as they do not have the funds to take them through the difficult early stages.

All agreed that female role models are essential – to see other women who have been in same position is incredibly valuable in inspiring and encouraging others to see it through. The issue of obtaining funding was also discussed – all agreed that it is key that women portray themselves as confident and willing to take risks when pitching – all traits essential to be a successful entrepreneur. What is vital is ensuring that advice is available – for both men and women –  to those wishing to set up their own businesses, and that they know where to go for this information.

As the debate came to a close a key issue was also discussed – that of education. Careers advice invariably doesn’t focus on entrepreneurship and, crucially, does not come from those who are best to provide it, i.e successful local business owners. Without this, younger people will fail to consider the option of setting up their own business. There are however initiatives that are helping this, including amongst others, everywoman’s Modern Muse programme.

This brought the session to a close with all agreeing that a campaign, supported by government is necessary to raise awareness of women owned businesses. Increasing awareness through the media, and through successful role models will inspire other women to consider entrepreneurship as a career path. But the key is to ensure that this awareness and access to information is there - without this, many women (and men) will never give it a try, to the detriment of the wider economy.

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