Re:Gender works to end gender inequity and discrimination against girls and women by exposing root causes and advancing research-informed action. Working with multiple sectors and disciplines, we are shaping a world that demands fairness across difference.
Women now control more than half the spending power in the U.S. So why is venture capital—the engine that powers innovation—so cold to their ideas? A panel of women entrepreneurs addressed the problem at the summit.
“One of the biggest problems is that there are just no women in the rooms where the decisions are being made,” said Susan Lyne, CEO of Gilt Groupe. “It’s simple calculus," said Lyne, who formerly ran Martha Stewart's OmniLiving Media and is now readying Gilt, a flash sale intenet site, for an IPO. “If you have a room filled with men, the ideas they’re going to want to finance are the ideas that appeal to men.”
Candace Browning, head of global research for Bank of America, called such thinking “completely out of touch with the reality.” A report she recently released advised clients to invest in businesses that harness the purchasing power of the 30- to 39-year-old women and women in the 60-plus age bracket. “That is where the growth really is."
Amanda Steinberg, CEO of DailyWorth, a firm that aims to be a Kiplinger's for women, said she had raised $3 million to finance her efforts, $2 million of which came from women who had never before invested in a start-up.