What Next Gen Innovators Are Saying About Early VC Pitching
As innovative ideas burst forth in a new year and National Mentoring Month winds to a close, I can’t help but reflect on a group of extraordinary pitches I witnessed at the Girls Into VC Summit at Harvard University last quarter. Speaking on one of the panels and then happily seated in the audience enthralled by undergraduates, surgery fellows, artists and TechStar fellows pitching ideas to a panel of venture capital judges, I was blown away by their expertise and, well…their fearlessness.
It was something to behold.
Because pitching is hard and can be more daunting for young women.
According to new data from Carta, for the first time in four years the share of funding going to women-only startup teams has fallen below 3%, and the percentage of female founders launching new companies fell from 15% in 2022 to 13% in 2023.
Listening to established VC investors like Amanda Eilian, Kimmy Scotti, Nisha Dua and Rebecca Minkoff dive into this exact topic last week at a NYC Female Founders Collective event, the stats we continue to see rang true.
Yet the founders I watched bring their ideas forward at Harvard were young and, in the words of another founder Kara Goldin, undaunted. As I listened in awe, all I could think about were the questions curious Être girls would be raising their hands to ask.
Who ARE these role models and what do their companies DO?
I’m delighted to introduce you to:
Elvia Perez, a Brown University student and founder of ed-tech startup Empower U. "The Girls Into VC Summit in November was a captivating and transformative experience," she told me. "I found myself alongside truly incredible founders. I presented EmpowerU, an ed-tech platform that works to connect high school students to resources like scholarships, internships, and summer programs to help them go to college and become career-ready.For aspiring founders, my advice is simple: put yourself out there. Engage with as many people as possible; you'll be pleasantly surprised by how many people want to help you and see you succeed. Moreover, remember that where there is a will, there is a way. Don't allow a lack of network, funding, or a specific skill set to deter you from building and creating. As a non-technical founder, I bootstrapped and taught myself how to build EmpowerU. We recently launched in the Apple store - I can attest that nothing is impossible."
Luzy Guanuna, the Harvard University student launching financial literacy tool Rubi. “We are a team of young women with diverse backgrounds,” the Rubi site begins, “looking to be the change we want to see in the world…We know firsthand about the obstacles that young women face as they handle their personal finances and invest for the first time. While Rubi is just beginning, we aim to keep our leadership majority women and put our money where our mouth is.”
Manon Martin, a Parsons School of Design graduate and founder of bridal design startup Les Aimants, Martin is aiming to usher the fashion industry into a new era with ground-breaking tech. “Working with the most advanced 3D fitting technology,” her website explains, “we can create a custom fitted gown for any bride.” Continuing on LinkedIn, she states: “Our mission? To disrupt an underserved market with immense potential. We're committed to delivering your dream dress in just 8 weeks, with a guarantee of a perfect fit.” Winning 3rd place in the competition, her pitch found a match.
Marianne Weber, occupational therapist at Johns Hopkins and founder of Even Adaptive, Webber was diagnosed with multiple sclerosis while finishing her master’s degree. Realizing the difficulty that clothing, particularly foundational layers, can present for MS patients, she created Even Adaptive to ensure that dressing remains easy and confidence-building for every woman.
Then meet...
Melis Dural, a 2023 Techstars Boston fellow and founder of EKOS.AI, Dural is building a fresh platform to host virtual and in-person events, workshops, happy hours, and mentor sessions with AI-powered networking. “I started EKOS.AI to create a space where professionals could find individuals from inside and outside of their organizations,” she explains on her website, “and genuinely interact and build lasting connections with…The current model of digital networking doesn’t create a platform for connecting with these people in an effective way.” To rounds of applause, EKOS.AI won Audience Choice in the pitch competition.
Tess Koi, a surgery clinical fellow at Mass General Brigham and proud founder of PeriPeach, Koi built a perineal care company that is changing the game for new mothers. “I love pitching not only to talk about PeriPeach, but to bring awareness to what happens during birth,” Koi told me. “So many women are silently suffering with pelvic floor trauma from the immediate postpartum period to even after menopause. There's a lot of advocacy in pitching, which makes the whole process even more empowering!” This proved true as Koi took 1st place in the pitch competition.
Vienna Sparks, a Columbia University student and founder of MabLab, a biotech startup developing a 5-in-1 test strip to screen for the five deadliest lacing agents in recreational drugs. “Our team won 2nd Place at the Girls Into VC Summit," Sparks says proudly, "where we had the privilege of presenting our venture before a diverse panel of distinguished judges. Overall, the summit was a remarkable and inspiring experience that truly set the stage for shifting the narrative of female empowerment in the startup ecosystem. To aspiring female entrepreneurs who are beginning their journey, my advice is to embrace challenges with resilience and determination. Seek out the communities that serve to uplift you and carve your own path to success. The conventional path is not always the only path.”
Fun fact: I had the pleasure of meeting Vienna when I spoke with the Barnard Investment Group earlier in 2023, and was impressed by her extensive experience in the startup space even before her pitch.
Last thing…who brought all these founders together and what did they think of the pitches?
Remember Harvard sophomore Isabella Mandis, founder and CEO of Girls Into VC from this earlier newsletter? A Kleiner Perkins Fellow and recent addition to the Forbes 30 Under 30 for Boston List, Mandis’ vision continues to be “committed to bridging the gender gap by creating a robust pipeline of skilled, passionate young women equipped and ready to revolutionize the [VC] industry.”
She’s absolutely doing it.
“It was amazing to see these incredible young women take the stage with such confidence at our pitch competition!” Mandis exclaims. “Nothing makes me prouder than watching these talented entrepreneurs share their ideas with our panel of judges.”
“The energy in the room was electric – each pitch not only showcased their idea but also their sheer passion and drive,” she continues. “It was a real testament to the future for women in venture capital and startups. I'm beyond excited for what the young leaders in our community will accomplish in the future!"
I am too.
Girls can’t be what they can’t see – it’s true.
But more than that - they can’t fund what they can’t pitch.
So, to every innovative girl doodling ideas in her notebook, compiling data in her lab, or reeling from a discovery she can’t quite believe, here are some new role models.
Follow their work. DM them with a question.
And think of them when you practice your own pitch in the mirror.
They stood in the same high tops you’re wearing now, and their footsteps are ready for the next founder to follow.
It can be you.
Looking forward,
Illana
ÊXTRAS: Three more ways rising founders can learn more about pitching early in the VC space you won’t want to miss: the Girls Into VC Blog; the Girls Into VC Podcast highlighting the stories of women and diverse professionals in VC and entrepreneurship; and their views on mentorship in VC – particularly powerful on this last Monday of Mentoring Month.
