Maybe. Call me an optimist, but I’ve learnt that if there is persistent noise about a topic it will force a change. I thought the Investing in Women Code was a step in the right direction but that’s just me with my lawyer hat on! Female entrepreneurs, those to whom it really matters, could do with more. I say so after reading, Sophia Mateeva’s (CEO & Co-Founder of Enty) article in the Financial Times (from 19th Aug 2019) that explains so well the everyday hustle in the entrepreneur-verse, facts that perhaps professional advisors and VCs are maybe far removed from. The FT article caught my eye because it highlighted a simple problem of hiring a meeting room which for a start-up is not only a hassle but also an expense. While I am sure male founded start-ups also have similar problems, I think the point is that in addition to the lack of funding, selling solutions to female problems to male VCs, conscious/unconscious bias, bad timing, lack of talent that will commit to working at low cost, Brexit, you name it – add expenses (where they can be avoided) are just that straw that breaks the camel's back. In Sophia's other posts on the internet, she also mentions “the second challenge is launching a product with female market.
If you go to a group of men to pitch your new product, you first have to sell them the problem, or “consumer want”, that your product is addressing. Your typical Silicon Valley white male doesn’t have to sell the problem, just their solution. With a female-focused product, you have to sell the problem, as well as the product and the scale of its appeal. Male founders of products with a female market also have this problem;” We just want to put it out there for female entrepreneurs to check out CMS' equIP programme. We are committed towards helping promising start-ups with potential to scale make it through the myriad of legal issues and offer other perks - where possible, we might have a meeting room too.
Find out more about Female Leaders: Sophia Matveeva.
The content above was originally posted on CMS DigitalBytes - CMS lawyers sharing comment and commentary on all things tech.