>> IS MASSACHUSETTS A TOUGH PLACE FOR FEMALE ENTREPRENEURS?
A RECENT SURVEY PUT THE STATE NEW THE BOTTOM FOR WOMEN-OWNED BUSINESSES.
WE FOU PLENTY OF MOVES UNDERWAY TO CHANGE THAT PERCEPTION.
>> SAMUEL ADAMS, THE REVOLUTIONARY PRIDE BY A SIGN OF THE CITY’S TECH EVOLUTION.
>> IT IS ABOUT SUSTAINABLE CITIES, SOCIAL CITIES, AND SMART CITIES.
>> THIS GROUP TEAMED UP FOUR YEARS AGO WITH THE BOLD MISSION.
>> BRING TECHNOLOGY INTO THE PUBLIC REALM AND A WAY THAT IS USEFUL.
>> FIRST, THEY BUILT THE BENCH, MEANT TO BE A SOCIAL STOP FOR CHARGING DEVICES POWERED BY SOCIAL ENERGY, THEN CAME THE SIGN.
>> IT IS MORE LIKE A SOCIAL MEDIA PLATFORM.
>> ALSO POWERED BY THE SUN, CONTENT CAN BE CHANGED, UPLOADED LIKE A POST, PERFECT FOR PROMOTING BUSINESSES, EVENTS, OR OFFERING REAL-TIME TRANSIT INFORMATION.
THE SIGNS ARE NOW UP AND 75 U.S.
CITIES.
>> WE WANT TO BE WHERE THERE IS AN EMERGING NEIGHBORHOOD, WHERE THERE IS A NEED FOR ECONOMIC DEVELOPMENT AND TO BRING PEOPLE TOGETHER.
>> IT WAS BORN AT MIT’S MEDIA LAB, AND ONE PROFESSOR SAYS FEMALE ENTREPRENEURS TEND TO BE IMPACT-ORIENTED.
>> THEY WANT TO MAKE A DIFFERENCE.
THAT DOESN’T MEAN THEY ARE STARTING NONPROFITS.
THEY ARE FOCUSING ON PROFIT BUSINESSES.
IF YOU LOOK AT PATENTING AND INTELLECTUAL PROPERTY, BOSTON DOES WELL IN TERMS OF THE NUMBER OF FEMALE INVENTORS RELATIVE TO THE WHOLE UNITED STATES.
>> THERE ARE STILL DISPARITIES WHEN COMPARED TO THEIR MALE COUNTERPARTS.
>> THE PLACE WHERE WE SEE A GAP IS IN WOMEN STEPPING UP AND CREATING INNOVATION-DRIVEN ENTERPRISES, COMPANIES THAT HAVE SIGNIFICANT GROWTH POTENTIAL THAT CAN CREATE A LOT OF JOBS
AND HAVE A GLOBAL IMPACT.
THOSE OFTEN REQUIRE DEEP TECHNICAL SKILLS.
UNTIL QUITE RECENTLY THERE HAS NOT BEEN AS MUCH PARITY IN WOMEN TRAINING IN ENGINEERING, COMPUTER SCIENCE, AND THE LIFE SCIENCES.
WE ARE INCREASING LEASING THAT PARITY TODAY.
>> FUNDING CAN BE A REAL CHALLENGE.
JUST ONE DOLLAR OUT OF EVERY $23 IN BANK LOANS GOES TO WOMEN-OWNED BUSINESSES, AND ONLY 3% OF VENTURE CAPITAL INVESTMENT GO TO BUSINESSES LED BY WOMEN.
>> MOST OF THE PARTNERS IN VENTURE CAPITAL FUNDS HAVE BEEN MEN, SO IT IS EASY TO UNCONSCIOUSLY INVEST IN BUSINESS LEADERS WHO ARE QUITE LIKE THEM.
>> ENTER X FACTOR VENTURES THEM ALL BOSTON-BASED VC FIRM BY WOMEN FOR WOMEN.
>> IT GREW OUT OF A MOVEMENT THAT WE WERE DOING POST-ELECTION TO GET WOMEN TOGETHER TO HAVE CONVERSATIONS ABOUT THE ISSUES FACING THEM IN THEIR COMMUNITIES.
>> THE NINE FEMALE COFOUNDERS KNOW THE STRUGGLE.
THEY ARE ALL SUCCESSFUL ENTREPRENEURS, COMPANIES THEY CONSIDER MUST HAVE AT LEAST ONE FEMALE FOUNDER.
>> YOU ARE NOT JUST GETTING A CHECK.
YOU ARE GETTING AN AMAZING NETWORK OF WOMEN WHO SCALE COMPANIES TO 100 EMPLOYEES AND MILLIONS OF DOLLARS OF CAPITAL TO HELP TRAIN YOU ON HOW HERE IS HOW YOU CAN DO IT.
>> SOMETHING APPEALING TO THIS PERSON, WHO HAS BEEN TALKING TO X FACTOR.
>> JUST AS BUILDING SOURCES OF FINANCING IS CREATING FEMALE ECOSYSTEMS THAT WILL ALLOW PEOPLE TO COLLABORATE AND HELP EACH OTHER.
>> SHE LAUNCHED AN ARTISAN WINE COMPANY WITH HER HUSBAND.
>> IT IS ALREADY HARD TO RAISE MONEY AT A FEMALE-LED COMPANY, THEN LAYER ON TOP OF THAT THAT I AM A FEMALE LEADER IN A VICE INDUSTRY, IT HAS BEEN A LEARNING CURVE.
>> THEY PRIDE THEIR SELVES ON QUALITY, SUSTAINABILITY, AND AFFORDABILITY.
ALTERNATIVE PACKAGING, JUST KEGS, BOXES, AND CANS.
THE GOAL IS TO BECOME A LEGACY WINE BRAND FOR THE MILLENNIAL GENERATION.
>> THIS IS THE FIRST GENERATION DRINKING MORE WINE THAN BEER IN THEIR HOMES.
>> THEIR WINE IS SOLD ONLINE, RETAILERS, AND RESTAURANTS.
>> WE ARE AT MULTIPLE LOCATIONS THROUGHOUT THE COMMONWEALTH.
>> THANK YOU.
>> THE WIND BY THE GLASS IS THE LAST UNBRANDED SPACE AT A BAR.
WHEN YOU ORDER A BEER, YOU ORDER A HARPOON, SAMUEL ADAMS, BY THE BRAND.
>> I’VE NEVER HAD ONE.
I WILL GIVE IT A TRY.
CHEERS.
THAT IS REALLY GOOD.
SHE FEELS LOCAL INVESTORS OFTEN FAVOR TECH AND BIOTECH COMPANIES , BUT SAYS THERE IS BIG PROFIT POTENTIAL ELSEWHERE.
>> WOMEN ARE MORE LIKELY TO FOUND COMPANIES THAT ADDRESS PROBLEMS THEY ENCOUNTER IN THEIR EVERYDAY LIVES.
THAT IS OFTEN PHYSICAL PRODUCTS.
THE OPPORTUNITY FOR FINANCIAL PAYOFF IS LARGE, BUT IT WILL TAKE BOSTON TO REFRAME WHAT THEY THINK OF SUCCESS AND WHAT THEY ARE LOOKING FOR IN COMPANIES.
>> PROFESSOR MURRAY SAYS BOLD IDEA SHOULD BE ENCOURAGED EARLY ON.
>> THIS IS ABOUT NURTURING YOUNG WOMEN TO BELIEVE THEY ARE EQUALLY CAPABLE OF TAKING THE RISK OF BEING AUDACIOUS AND THAT IT IS FINE TO ASK FOR MONEY AND FIND TO HIRE PEOPLE AND FIRE
PEOPLE.
THESE ARE NOT THINGS THAT HAVE BEEN TRADITIONALLY BEEN QUITE AS COMFORTABLE, I THINK, FOR MANY YOUNG WOMEN AS THEY ARE FOR YOUNG MEN.
I THINK THAT IS REALLY CHANGING.
>> PROFESSOR MURRAY SAYS STRONG FEMALE ROLE MODELS ARE VERY IMPORTANT.
WOMEN LIKE KATIE, RECENTLY NAMED CEO OF MIT’S NEW VENTURE FUND CALLED THE ENGINE.
SINCE X FACTOR VENTURES LAUNCHED, THEY HAVE FUNDED 17 COUNTRIES OUT OF 800 WHO HAVE REACHED OUT FOR CONSIDERATION.
ANOTHER RESOURCE FOR WOMEN-LED STARTUPS, A LOCAL INITIATIVE OF THE FIRST CROWDFUNDING PLATFORM FOR WOMEN-BUT BUSINESSES.
GEORGE LEWIS USED TO BE IN FINANCE.
NOW HE IS IN THE FEED BUSINESS.
>> THE ONLY REMAINING FEED MILL IN EASTERN MASSACHUSETTS.
>> WHY HE MADE THAT CHANGE WHEN