THE WRAP JULY 3 – OUR WEEKLY ROUNDUP OF FUNDING NEWS
Hi and welcome to the Wrap, a quick look at the week that was, I’m Diana Dorahy.
Can you believe we’re half way through the year and what a year it’s been so far, right? Some of you will feel like it’s been the longest six months of your life others others will feel the opposite. At this point, it’s good to look back and see what you’ve achieved so far and map out what you want the rest of the year to look like.
Wouldn’t you know it, our July masterclass is all about planning your funding journey. It just went live this week. Such an important topic to get right so you can support your business growth.
This month, we’re also thrilled to have on board Gail Wong and Yosha Gupta as our Investor and Entrepreneur-in-Residence. Both women bring so much experience to the table and their advice to our members will be invaluable.
What else this week? We celebrated our first member on the podcast. Alex Lamb, founder of Lanterne Rouge joined us. It was another episode just brimming with advice including these:
- Don’t be resentful if your business is taking longer than expected and stay authentic to your vision
- Define targets clearly
- Listen to the advice you receive but take it on selectively
- Add a year to any plans as things will take longer than expected
Alex had a lot more sage advice so if you haven’t already, make sure you take a listen. It’s up on our website.
There was a great piece in Fortune this week about how coronavirus has affected female founders. And a survey in the US of 111 women-run companies found that 20% are projecting revenues increases for next year. The Startup Genome 1,000 global startups survey found 12% were experiencing the same kind of growth suggesting women-run businesses are, to some degree poised to benefit from the global crisis. Let’s see.
My story of the week this week – well, it’s a tie.
First, is an interview with Sarah Cone the founder of Social Impact Capital one of the few female-led VC firms. I’m putting the link in comments, have a read. She’s really turning the tables on the idea that impact investing can’t bring money and returns because it can.
Now, they focus on funding social impact business when they are still ideas on the back of a napkin, and getting them to the stage where they have the necessary business proof points to be funded by commercial capital. And they have an 89% hit rate. As I said, have a read.
The second is still about VCs but this time how they may be forced to innovate and adapt to this new normal. What would that look like and could it be done? Could we see a rise in equity crowdfunding or other alternative funding and investing methods as a replacement of the traditional VC funding model? Some interesting ideas.
My tip of the week this week comes from a piece entitled 52 Female Tech CEOs To Encourage and Inspire You.
Effectively it was just a list, which we’ll link to in comments, but there was one simple message. Follow and support these women. Why? Because “It’s easier to change the world if you can see someone who has already started, who is just like you”. Great advice.
Coming up next week on Next Chapter Raise, get your calendars out it’s jam packed.
The Start Me Up HK Festival kicks off on Monday. It’s a week-long event and for the first time is going virtual. This is the ultimate start up fair and tickets are free so sign up.
On Tuesday, we’ve got Next Chapter x Cartier “Ask me anything” members only call. This is everything you want to know about the Cartier Women’s Initiative 2021 programme – how to apply, eligibility plus hear from a Cartier Fellow. Remember, there’s $100k up for grabs.
Speaking of start ups, our whip smart Strategy Lead, Amanda Williams is joining Start Up Grind’s discussion panel next Tuesday comparing fundraising in Hong Kong, Europe and beyond. So, if you want to know how investments differ across regions, check it out. Details in comments.
Finally, there’s the Jumpstart start up virtual conference next Thursday. It’s a half day event with some truly epic speakers including world boxing champion, Manny Pacquiao and Changpeng Zhao from Binance, the world’s largest crypto exchange by volume.
My advice? Have a look through the various sessions on offer at these conferences and pick and choose the ones right for you and your business.
Have a great weekend and see you next time on The Wrap.