Over eight years ago, we created Indiegogo to give everyone with a passion an equal shot at success. Too often were ideas going unborn because they lacked access to funding, because the gatekeepers that control finance had made the decision that those ideas weren’t worthy. Not because they were bad ideas, and not for lack of a hardworking team, but because of unconscious biases that affected the decision-making process. Unconscious biases usually based on gender, race, or class. Women are getting turned down for investment opportunities despite the fact that a study from Babson College found that women-led venture-backed companies earn 12% more revenue than male-led companies. Only 2.7% of venture-backed companies from 2011 to 2013 had female CEOs.
We created a completely open platform by removing the gatekeepers so that the crowd can decide what gets funded if they think an idea is good, because nothing else should matter. Seeing women break into business by using Indiegogo is inspiring, but there is still much to be done. We’ve always been committed to improving diversity in entrepreneurship because we believe that the world is better when more ideas are given the opportunity to succeed, and this year we’re launching key initiatives to encourage even more. At this year’s Sundance Film Festival we hosted an event with Ava Duvernay’s Array Films to brainstorm ways to increase diversity in filmmaking. Today, on International Women’s Day, we’re launching a year-long effort to encourage more women to share their great ideas with the Indiegogo community, and the world. With partners like Dell Women’s Entrepreneur Network, Girls in Tech US, Girls in Tech UK, Trep Life, Blooming Founders, and Lipstick & Politics. We’re offering campaigns led by women that qualify the chance for one-on-one consultations with our crowdfunding campaign strategists, and participate in other opportunities that we’ll announce throughout the year.
Today, women business owners in the U.S. get less than three percent of venture funding and that presents a problem in creating the 600 million new jobs we need to employ the eligible workforce in the next decade. The rise of crowdfunding is leveling the playing field for women’s access to capital, which is why Dell is partnering with Indiegogo to enhance its women-run crowdfunding campaigns.
Elizabeth Gore, Dell Entrepreneur-in-Residence
It’s no secret that women still face a multitude of challenges when it comes to representation in leadership. As of 2015, there are 9.4 million women owned businesses, yet support and career advancement is negligible. Lipstick & Politics is excited to partner with Indiegogo and support women in entrepreneurship through their initiative.
Mira Veda, Founder and Editor-in-Chief of Lipstick & Politics.
Indiegogo Supports Women Entrepreneurs
We’ve found that the same women who are turned down by VC after VC are responsible for 47% of successful Indiegogo campaigns. A recent study from the Haas Business School at UC Berkeley showed that women may actually raise more money than men do in crowdfunding, simply because of the more inclusive and positive language they use. Women are better at articulating that see their contributors as an integral part of their teams, rather than simply as donors.
Blooming Founders is thrilled to partner with Indiegogo to support female entrepreneurship in the UK. Indiegogo has been a real game changer in early stage finance. Now, women get a fair chance and more access to investors, both men and women who, in contrary to established funding institutions, are willing to back a woman-led business idea. Hopefully, more successful campaigns led by women will empower other women to consider crowdfunding as an avenue of fundraising.
Lu Li, Founder and CEO of Blooming Founders
One of our many amazing stories of campaigns that have changed the course of women’s businesses is Emmy’s Organics. The team needed a small loan simply to redesign their packaging to bring their products to grocery store shelves – and the banks said no. They raised $15,326 on Indiegogo and are now found in popular retail stores around the US. They are just one example of the many campaigns run by women that have brought their ideas to life on Indiegogo.
We’re incredibly excited to be a part of Indiegogo’s initiative to support and encourage women entrepreneurs. Every Indiegogo campaign involves a leap of faith, taking a risk, betting on yourself – and that’s what Trep Life is all about. We’re looking forward to telling stories that are launched from this initiative.
Malachi Leopold, Co-Founder and CEO of Trep Life
We believe in you, and we believe that you have the power to do something great. If you’re ready to get going, start a campaign now. Or if you’re still thinking about it, sign up here for tips from the Indiegogo team.