P&G Ventures has joined forces with The Riveter to launch Open for Business: Women Building the Future, a free event series that chiefly aims to bridge the gender funding gap. These virtual events will provide female entrepreneurs with resources, insights and inspiration to help them overcome any obstacles standing in the way of growing their businesses. A group of over 20 seasoned start-up executives at XFactor Ventures will join the series. Above all, these executives will provide expertise, experience and meaningful feedback.
The COVID-19 pandemic had undeniably brought unthinkable economic uncertainty to the country. However, one surprising bright spot was the record amount of venture funding for U.S. startups. This amount was specifically $143 billion in 2020, up 12 percent from the previous year. But that good fortune was not shared evenly, according to Crunchbase. In that same year, funding to venture-backed companies founded solely by female entrepreneurs dropped 22 percent. In summary, this represents $1 billion in lost funding.
A community of experts
This month-long series of conversations will bring together experts and stakeholders from different sectors of the entrepreneurial landscape, including:
- Venture capital investors
- Female founders of technologically superior fast-moving consumer goods
- Accelerator leaders
- University and federal labs
Addressing the funding gap and advancing careers
The series includes four main events:
- The Big Idea [took place Thursday, June 17 at 4:00 pm ET] featured female founders who have successfully scaled their own consumer product businesses. Founders shared advice and takeaways from their personal experiences.
- How We Scaled [Thursday, June 24 at 4:00 pm ET] will chiefly focus on sharing stories from individuals and entities that foster networks, funding and ideas. We are thrilled to partner with Clubhouse’s incredible Women Founders Club for this audio-only discussion. It will be led by Liana Fricker of Inspiration Space and Katherine Lynn of Nextsteps.
- Speed Mentoring [Wednesday, June 30 at 4:00 pm ET] will give attendees the chance to connect with experienced mentors who can help them advance their entrepreneurial journey. We are excited to partner with XFactor Ventures for this event. XFactor Ventures is a venture capital fund led by female founders across the world.
- Start-Up Showcase [Thursday, July 8 at 7:00 pm ET] will close out the month of programming and give four female founders the chance to showcase their fast-moving consumer goods innovations while sharing their ideas with mentors and an audience of peers and potential investors.
Shining a light on gender barriers
“P&G believes in equality for everyone. Having representation in the startup space is not only the right thing to do, but it’s good for business,” said Betsy Bluestone, Senior Director of Global Scouting and Partnerships for P&G Ventures. “We are proud to be teaming up with The Riveter on this series to support and encourage female founders. The disparity of resources available to women-led businesses can seem insurmountable, but we hope these kinds of conversations bring us one step closer to a more level playing field.”
“At the Riveter we partner with those who share our goals of bringing awareness to and breaking down the barriers women in the workforce face every day,” said Amy Nelson, founder of The Riveter. “We are so excited to be partnering with P&G Ventures for this project, because we believe these events will bring women together to help each other succeed.”
Join the event series
Additional panelists, judges and other featured participants will be shared as they are confirmed.
This series will be shared across The Riveter’s platform, which includes their website and newsletter. Register for the series here. For updates on these events and more, follow P&G Ventures on Twitter and LinkedIn. You can also follow The Riveter on Twitter and LinkedIn.
About P&G Ventures
P&G Ventures is an early-stage startup studio within P&G that creates new brands and businesses by partnering with entrepreneurs, visionaries and startups—with customized partnerships, unique to them, to deliver a win-win, and create products, brands and businesses that solve consumer needs in new categories for P&G.
About Procter and Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks® and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.
About The Riveter
The Riveter is an online community and media company sharing stories, skills and tools for women working to advance their lives and careers. The Riveter’s newsletter reaches hundreds of thousands across the world and focuses on the amazing work women are doing in emerging and traditional industries. The community works together to champion and elevate the conversation about diversity, equity, and inclusion in work and in business.
Read more about the funding gap and how it affects women and minorities.