2. Special Considerations For (Women)
Navigating the Venture Industry
• Intro to Portland Ten
• Disclaimer
• Venture Industry Basics
• Performance Standards & Tips for Success
• Special Issues for Women
3. Intro: Portland Ten
Entrepreneur development organization with the mission to get 10 Portland
companies to $1MM within 18 months.
40 alumni, 6 cycles of 2 bootcamps (Portland Ten, Six Week Sprint), 25
Community Partners & Sponsors , 5 advisors, 5 staff, 10 volunteers, started
Feb 2009.
Profile client: ShopIgniter, $3MM of venture capital within 6 months of
graduating, exceeded $1MM in revenue within 12 months. Initial team of 3,
now 18+. 2 additional companies on track to hit $1MM within 6 months.
Partners with PDC, NedSpace, OEN, Voyager Capital, Willamette University,
Mercy Corps NW, Perkins & Company, Davis, Wright Tremaine, Silicon Valley
Bank, Startup Weekend, Civic Apps, FundingUniverse, and many more.
Grant by Portland Development Commission: $35,000, May 2010.
4. Intro: Carolynn Duncan
Founded Portland Ten to create 10 high-growth startups in the
state of Oregon, the first of which just reached $1M in revenue
(ShopIgniter).
Managed 40+ Portland startups in the past 18 months, met &
advised more than 300 startups in the tech, startup, &
angel/venture capital networks in Seattle, Portland, southeast
Idaho, and Salt Lake City region in the past 5 years.
Launched, co-launched, or assisted in 5 early stage venture
development projects: FundingUniverse Northwest, EPIC
Venture Fund-- a Draper Fischer Jurvetsen affiliate fund, Eastern
Idaho Entrepreneurial Center in partnership with Idaho National
Laboratory, Hundred Dollar Business, Provo Labs Seed Fund.
6. What We Do
We find and develop high performance entrepreneurs
and startup teams in the $0 to $1,000,000 revenue range.
• High growth ventures: (have potential to raise angel or
venture capital, hit $20MM-$100MM)
• Lifestyle businesses: ($300,000-$5,000,000 annually)
• Sole proprietorship/small businesses: $40,000-
$300,000
7. When TEDx Portland asked me to speak about
working in the “male-dominated venture
industry”, I thought…
Is the work I do really male dominated?
So when I was going through photos of Portland
Ten for this presentation, here’s what I found—
8.
9.
10.
11.
12.
13.
14.
15.
16.
17. Disclaimer
So from the photos, you can see that I am an
“expert” at being a woman working in a high
profile, male-oriented industry…
That said, for this presentation-- I’m not a feminist, I
don’t have an agenda that prefers women’s rights
over men’s or vice versa, and I may say things that
are not politically sensitive, but are true from my
experiences in VC and norms within the industry,
whether right or wrong.
18. Disclaimer- part 2
I also “speak man”, which means that I
understand some of the driving characteristics
and culture of men, and can communicate with
them effectively, as well as translate “man” for
women, and hope to shed some light on those
dynamics within this industry.
19. As a whole, the venture industry is:
Hierarchical
Status-Oriented
Power & Control
Performance & Metrics
Competition & Achievement
Success & Failure
Drive & Ego
Here are three examples…
23. Performance Standards for
Venture-Fundable Startups
• Be in the top 2-5% of startups
• $500K-$2MM in revenue
• Strong team of 3-8
• 1-2 year operating history
• Stable client base
• Prior experience in industry, startup
• Brand name clients, MBA/engineering schools,
high-profile projects
24. Qualifications for
Investment Professionals
• Be in the top 2-5% of professionals
• Prior experience building startup teams
• Strong reputation, network, credibility
• 5-10 years industry experience in tech, life
science, clean teach
• Significant operational or financial experience
• Have been mentored, socialized, and introduced
into the investment community by a respected
VC firm or professional
25. Ultimately, no matter what your gender is, if you
want to be successful, you must be able to
navigate through those hierarchies.
The best way to do this, is to focus on your own
performance as a professional, and convert your
potential into value add for the organizations
you work at, and the industry overall.
26. Tips for Success
• Find a respected mentor who will open doors for
you in the industry.
• Focus on your performance, network, and
increasing your credibility, not the baggage or
negative cultural dynamics within the industry.
• Be a high performer and compete based on
intellect, professionalism, and accomplishments.
27. Special Considerations for Women
That said, there are some issues specific to women:
• Male-female relationship dynamics
• Asserting your credibility & gaining respect
• Perception of gender-specific roles
• Appearance
• Attraction in the workplace
• Management of stress & emotions
• Treating yourself & others as equals– letting go of any
issues with men or women
28. The Dark Side
• Being asked, “How old are you?” “Are you old enough to be
doing the work you’re doing?”
• Being asked, “Do you want to get drinks?” “Do you have a
boyfriend?” “Why would any startup work with you?”
• Public humiliation, exclusion from social circles if/when you
accidentally offend someone’s ego
• Categorization into secretarial roles
• Authority figures automatically speaking to men at the table
first
• Not knowing what to wear sometimes, not know how to
blend in-- standing out…. always. Constant scrutinization of
your appearance, performance, right to be in the room.
29. Advantages of Being A Woman
• Automatic standing out in the industry
• The ability to perceive & persuade, relationship strengths
• A unique perspective on the industry
• Detachment from ego, power, hierarchy– ability to go around it
• Nurturing from other women leaders in the industry, support from
men who want to see women gain traction in the industry
• Learning to assert yourself across genders, power structures
• Opportunities to influence policy and open doors for women in
the future
• Extra benefits & respect for being a minority and still “making it”
30. My hope for today is that you’ll have a better
understanding of some underlying dynamics in
the venture industry, which may be generated
by it being a largely male-oriented workplace, or
may be attributable to other reasons, such as it
being an environment that brokers in power and
status.
And ultimately, that if you are interested in
working in or securing venture capital, that you
will be empowered to be successful in the
industry by focusing on your performance, not
the issues.
31. For more information, contact
Carolynn Duncan
Director, Portland Ten
cduncan@portlandten.com
www.portlandten.com
www.twitter.com/portlandten
