It's no surprise that more funding for women entrepreneurs coincides with an increase in the number of women angel investors.
In 2004, there were about 225,000 angel investors in the United States, and 5 percent of them -- about 11,000 -- were women. Fast forward to 2016, the latest year for which data is available, and you'll see an incredible change. There were approximately 300,000 self-described angel investors in the U.S. that year, and 26 percent of them -- about 78,000 -- were women. In the span of a dozen years, women stepped up in unprecedented numbers to become investors. The seven-fold increase in their ranks coincides with another upswing: a growing number of funded women entrepreneurs.
The media mogul and Weight Watchers spokeswoman set a new record as the first black female entrepreneur on the Bloomberg Billionaires Index.
That’s the power of Oprah.
The media mogul hit another record-breaking career milestone on Monday, as her $4 billion fortune made her the first African American female entrepreneur on the Bloomberg Billionaires Index, a daily ranking of the 500 richest people in the world.
Winfrey, 64, comes in at No. 494, just behind entrepreneur Mark Cuban and business magnate and former politician Ross Perot. The queen of media’s fortune has increased $427 million this year alone thanks to her stake in Weight Watchers, a natural extension of her personal brand of self-improvement. Winfrey bought stock in the weight loss company in 2015 for $43.5 million, when she agreed to serve as a spokesperson for the company. Her investment has grown to more than $400 million since then. WW’s share price more than doubled, closing at a record $100.37 on Monday; a major comeback since Winfrey joined the brand three years ago.
SEE ALSO: Oprah takes a bigger bite out of the food industry
The savvy businesswoman and philanthropist has made the majority of her fortune from ownership of the Oprah Winfrey Show, her iconic talk show which aired on CBS for 25 years. Winfrey also founded her own cable network, OWN (The Oprah Winfrey Network), in 2011. And more recently, she signed a multi-year, $1 billion dollar deal with Apple to serve as a host for its new original programing.
“Together, Winfrey and Apple will create original programs that embrace her incomparable ability to connect with audiences around the world,” Apple said in a press release.
The tech giant has not yet unveiled specifics regarding the new collaboration with Winfrey, such as whether the video series will fold into iTunes or on a new platform.
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Entrepreneur Kisha Mays is on a mission to create as many millionaires as she can from female-run businesses.
The founder and CEO of Just Fearless, her business-development consultancy helps women entrepreneurs scale up and expand into international markets.
To do this Mays is often on the move all over the world. Based in Hong Kong and Los Angeles, she travels about eight months out of the year making connections and working on projects across the globe from Europe to Asia and beyond.
The author of “From Failure to Fearless: Still Completely Flawed BUT Thriving Fearlessly,” Mays has a goal of helping 1 million women entrepreneurs generate at least $1 million in annual revenue by Dec. 31, 2025.
Kisha Mays told Moguldom just how she plans on achieving this goal.
Moguldom: How can you help 1 million women entrepreneurs to earn at least $1 million in annual revenue?
Kisha Mays: I plan to accomplish this through global partnerships that will expand our reach, through my Angel Fund to support and invest in female founders, and through the creation of a grassroots movement that is happening now. Thanks in part to the movements like #MeToo and #TimesUp, women are showing that they will do what is necessary to see change and they are doing it fearlessly. The time is now. You must be the change you want to see and that is exactly what I am doing. Rather than focus on the negative, I would rather focus on the positive and make an impact to change the course of where we are heading.
Moguldom: Why did you want to do this?
Kisha Mays: I built my business working with women around the world, but I knew that by continuing going business-to-business, it would take a very long time to create change. I also knew if there were more women in power we would not see the division, poverty, and the like that we currently see in this world. In order to make that happen, we need more female-founded and -operated profitable businesses which will change families, communities, cities, countries, and generations. With more profitable businesses, jobs are created, poverty can be eliminated, and we can support women running for political office. They need not only our votes, but also our financial contributions which is a lot easier when you when you can eliminate the financial challenges in life.
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Humera Malik is founder and CEO of Toronto-based industrial AI company Canvass Analytics. She is also on the jury of the Women In Cleantech Challenge, which is accepting applications until July 13 at www.womenincleantech.ca.
It is often said, but bears repeating, that women are significantly underrepresented in the innovation economy, with one recent report finding that only 5 per cent of Canadian technology companies have a solo female founder or chief executive.
Such representation is similar – and arguably worse – when the focus is on the clean-technology sector. Where women do have a presence, they typically occupy junior roles in marketing, communications or finance, not senior roles in engineering or in the C-Suite.
The federal government recently recognized that this gender gap, particularly in areas of innovation, is inhibiting economic growth by leaving skilled talent on the table. It’s also limiting diversity of perspective, which research shows is essential to building economic resilience. The 2018 budget highlighted the need to boost the percentage of female-owned companies in the technology sector by providing more women the opportunities they need to succeed, while also removing barriers holding some back. At the same time, the last two federal budgets identified the growth of Canada’s cleantech sector as a national priority.
It stands to reason that getting more female innovators to build and run companies that are tackling some of the world’s biggest environmental and climate challenges presents a great opportunity for the country.
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Business experts said that the most challenging tasks, which women entrepreneurs face, is raising capital. In fact, many women entrepreneurs reported that lack of seed money in their bank accounts often became the factor that slows their business down. Some entrepreneurs begin considering crowdfunding as a solution to raise capital. Again, holding successful crowdfunding for women entrepreneurs is not a simple tasks.
Crowdfunding for Women Entrepreneurs Becomes More Popular
Statistics show that women entrepreneur takes advantage of crowdfunding more and more to solve the problems with limited capital in business. A data presented on a popular crowdfunding site – Indiegogo – shows that 47% of the successful crowdfunding campaigns are run by women.