By Angie Chang (Co-Founder & Editor-in-Chief, Women 2.0) From New York City, ConsumerBell Founder & CEO Ellie Cachette along with JumpThru Founder & CEO Deborah Jackson talk with Diana Williams of ABC 7 about women entrepreneurs, finding funding and the ecosystem for women entrepreneurs.
When asked about venture-funded startups, Deborah Jackson said:
"The statistics will show you that women do not raise as much money as men raise. I suspect that's because part of the product that the women tend to create is the products that women understand, and people tend to invest in things they understand. Many companies founded by women have amazing products and women understand them and women are willing to fund them - but that's not necessarily a broader group of investors."
Investors are usually men, Ellie Cachette agreed and continued to state:
"Numbers don't lie, so luckily we've gotten better at communicating the market that we're dealing with, and that's something that we had to learn as well. Because we were super passionate about our product but at the end of the day for investment, you need to show how big the market is..."
Deborah Jackson said the biggest needs for women looking to start companies are "mentors and other women who have started companies... capital and exposure."
On the topic of mentors, ConsumerBell CEO Ellie Cachette said:
"What's really remarkable and we always forget - New York is the home of Wall Street - and you have these amazing talented women who have been working for decades in a financial system.
So for a young passionate product-driven entrepreneur like myself, getting matched up with these women that can help with the business side - that's the gold mine for me as a female entrepreneur in New York is having access to these mentors - to these great women."
Watch the full Diana Williams interview with Ellie Cachette and Deborah Gage video on ABC 7 below:
About the guest blogger: Angie Chang co-founded Women 2.0 in 2006 with Shaherose Charania. She currently serves as Editor-In-Chief of Women 2.0 and is working to mainstream women in entrepreneurship. Previously, Angie held roles in product management, web UI design, and entrepreneurship. In 2008, Angie launched Bay Area Girl Geek Dinners, asking that guys come as the "+1" for once. Angie holds a B.A. in English and Social Welfare from UC Berkeley. Follow her on Twitter at @thisgirlangie.