Women in Tech - Renegades and Rebels

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Designed and illustrated by Jill Shargaa • Shargaa Illustration & Design • www.shargaa.com • Orlando, Florida

This report was prepared by

Leslie HielemaVice President, Orlando CenterFlorida Institue of Technology@lhielema • [email protected]

Danya Shea GlennyDirector, weVENTURE

Florida Institue of TechnologyFounder, Fervr

@danyashea • [email protected]

Special thanks to…

Necole PynnLandfall Creative

@necolepynn

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1. Setting the Stage: ................................................................2 Opening Context Why We Did This Study .................................................................. 2 Why Our Study Matters ................................................................. 3 Economic impact New products and services Innovative new business models Cultures that matter to women Realize full potential Scale with digital tech How We Studied............................................................................ 7 Who We Studied ............................................................................ 8

2. Key FindingS: .......................................................................10 Impact ....................................................................................... 10 Revenue Employees Degrees Universities Mentors Awards Their Path to Tech ....................................................................... 15 Interests & Passions are Starting Point Problem-Solving is The Prize Early and Consistent Exposure is Key Self-belief Cultivates Confidence Combine Left and Right Brain Thinking

3. Community inSightS & opportunitieS ................................21 Embrace The New Power & The New Economy Address Unconscious Gender Bias Redefine Our Conversation with Girls Prepare Women to Pursue Capital Harness Shared Leadership and Collective Intelligence Start A New Conversation

4. new initiativeS For Central Florida ..................................27

CONTENTS

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Opening Context

To make data meaningful and actionable, context is key. Here we hope to share the purpose behind initiating this study and the framework that guided us through the process. For quick reference, here are the parameters of our

research project:

Study Timeframe: 4 months, July thru October 2015

Sample Pool: 100 women owners, founders, executives and technologists

identified with 40% response rate

Region: Orange, Seminole and Brevard Counties

Company age: early-stage startup to decades in business

Company Size: 1 employee to 500 employees

Revenue Range: pre-revenue to over $65mm in annual revenue

Industries: advanced manufacturing, aerospace, civil engineering, data analytics, electronics, hardware development, IT, medical, mobile and web development, modeling and simulation, nanotech, sensors, software development, virtual reality

Why We Did This Study

Since Florida Institute of Technology launched weVENTURE Orlando in March 2015, we’ve been asked to provide many community partners, policy-makers and media sources insight into the women techpreneurs in our region.

To provide the most accurate picture possible, we knew we needed to formally address the collection of this information in a way many of us can leverage as we make Orlando and the surrounding area the #1 choice for women to start and grow companies, and participate fully in the tech boom, unto the economic benefit of all. Additionally, there was a prevailing perception at many levels of our community that “there aren’t a lot of women in tech.” Personally we know many women in tech, but weren’t sure how indicative our perspective really was of the reality of women in tech across Central Florida. We needed to do more research on the demographics of women techpreneurs across Central Florida. We are also often asked “Why does it matter to have more women in tech?” National economic studies confirm that women-owned companies may be the

SETTING THE STAGE

It seems clear that the future of American entrepreneurship and growth is in the hands of women.

— Kauffman Foundation report, 2014

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key to economic security in the years to come while local studies confirm that the technology industry is the second most important industry to our local economy. Therefore, we investigated to see if there was a compelling case to justify a community-wide imperative that we support women in tech to have greater business success while also encouraging more girls and young women to pursue futures in tech locally. National Economic Insights Favoring Women Entrepreneurs “Everyone, then, is in search of those future economic tailwinds or “shocks” that will give a boost to twenty-first-century growth in the same way that women’s labor force entry and rising educational attainment did during the twentieth century. One potential boost is a crucial economic area where women continue to be underrepresented: entrepreneurship, especially high-growth entrepreneurship.” - Kauffman, 2014

A study of U.S. Census data found that growth in women-owned businesses with more than $10 million in revenue is 47% higher than among all companies with similar revenue. A seed-stage investment firm recently reviewed its portfolio and found that companies with at least one woman founder performed 63% better, based on increase in company valuation. In another study, the Kauffman foundation found that women-led technology companies have a 35% higher return on investment. With venture funding, those companies have revenues 12% higher. Women are finding success in building high-growth, venture-funded companies.

Local Economic Insights Favoring Technology IndustryIn Central Florida, technology and science is the second-largest industry after tourism, and it is one of the fastest-

growing, mirroring national and global trends. The area’s primary industry sectors include modeling and simulation, optics and photonics, interactive entertainment tech and digital media, advanced manufacturing, information technology, aviation and aerospace, and medical technology. Learning about these companies and the entrepreneurs who are building them provides us with a closer look at a cluster of innovative businesses in our community and provides insight into the experience of the entrepreneurs who have built them. Through this information, we can see the deep impact women have on the technology industry in our region and gain a better understanding of future opportunities for our community and the world.

Why Our Study Matters

We know that it is important to have more women involved in technology and science. It is part of the national dialog and can be seen in numerous

state and local initiatives. But we need to clearly understand the reasons why it is important. By having a common understanding of these reasons, we can leverage untapped potential and implement the most impactful programs, dialogs, and policy. Technology is the thread that runs through a competitive economy, driving multiple and diverse industries and impacting myriad policy issues that are vital to commerce and communication. Technology-based industries and businesses create tremendous growth and opportunity in the U.S. economy and are essential to competing in an interconnected world. U.S.Chamber of Commerce

The potential to advance women economically may be the most exciting transformative feature of technology.

— Center for the Advancement of Women, 2010

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Six Reasons Why it is Importantto Have Women Engaged in Tech and Science 1) Economic Impact Women-owned businesses already are serious players in this nation’s economy. However, women-owned businesses continue to lag men-owned businesses in the top revenue categories. Only 3% of majority women-owned firms have revenues over $1 million compared to 6% of majority men-owned businesses. The average revenue of women-owned businesses is less than 30% of the average revenue of majority men-owned businesses. National Women’s Business Council

This means there is tremendous untapped and unrealized potential for women-owned businesses to make an even greater contribution to the nation’s economic health. One way to realize this potential is to better support women who are building businesses in industries with high revenue potential which can be found in tech and science sectors.

2) New Products and ServicesWe recognize that a diverse set of experiences, perspectives, and backgrounds is crucial to innovation and the development

of new ideas. It is crucial that women engage in devising products or services that affect areas such as health, wealth, safety, and wellbeing, to name a few. There is also opportunity to enhance and increase the products and services that address the needs of women as a market segment.

3) Innovative New Business ModelsThere is a growing trend toward transacting business on the basis of authenticity and personal passion, solving meaningful problems and creating sustainable, equitable, and profitable enterprises. Increasingly, people are choosing to do business on the basis of purpose and a vision of a better world. These types of business models are resonating with women and open the door to new types of businesses.

4) Cultures that Matter to Women One of the hottest topics in business now is culture. Companies with strong positive cultures are now the most in-demand. You can feel a company's culture because it is evident in people’s behavior, enthusiasm, and the space itself. Women are creating cultures that are inclusive, respectful of diversity and cultivate shared leadership and most important, they are creating environments that are supportive for women.

PICTURED AT RIGHT:1. Tu-Hien Le, BeauGen2. Suneera Madhani, Fattmerchant3. Rachel Baker, Servos & Simulation4. Shalyn Dever, Chatter Buzz

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We’d like to introduce you to the women who are building and managing tech companies and organizations in Central Florida. They’re solving problems on a global scale, reshaping industries, and changing what we think of as possible. Here’s a snapshot of some of the women and their companies involved in this study.

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Women represent a growth market more than twice as big as China and India combined. They control $20 trillion in global consumer spending,

own or operate between 25-33% of all private businesses,and earn an estimated $13 trillion.

— Harvard Business Review, How Women Drive Innovation and Growth, 2013

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PICTURED AT RIGHT:1. Shannon Stull Carrus, WHOISCARRUS2. Coletta Dorado, AZZLY3. Mary Spio, Next Galaxy Inc.4. Leslie Hielema, Florida Institute of Technology5. Kay Stanney, Design Interactive

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5) Realize Full Potential We have an opportunity to unlock the full potential of women in this global economy. Significant economic and personal potential can be realized by: • Starting and growing innovative companies in industry sectors with high revenue potential • Addressing the talent shortage of science and tech workers by better supporting women who want to pursue degrees and careers in these fields • Ensuring girls reach their full potential by effectively exposing them to the power of science and technology

6) Scale Through Digital TechWe are in an era where every business needs to become a digital business. Technology is a primary driver of profitability and market differentiation today. Digital technology can be used to improve internal processes and how a company grows. Companies can expand their boundaries by tapping into other digital businesses, digital customers, and digital devices around the globe. By leveraging digital technology, womenpreneurs can effectively scale their businesses like never before. PICTURED ABOVE:

1. Jennifer McKinley, IRRADIANCE GLASS2. Kirstie Chadwick, International Business Innovation Association3. Erica Jacobs, Erica Jacobs Design4. Janet Petro, NASA - Kennedy Space Center5. Melissa Kuchma, Revolution Medicine

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Businesses have access to cloud, big data, mobile and social technologies to boost efficiency or cut costs. By leveraging these technologies, businesses can

craft new business models, develop new revenue streams, or drive changes that lead to an increase in the top or bottom lines.— Harvard Business Review, The Digital Transformation of Business

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1. Define what we want to achieve and the end goals. 2. Validate goals with stakeholders and subject matters experts. 3. Identify members of the target market. 4. Take time to develop the RIGHT questions. Test questions to ensure that they elicit necessary data points. 5. Listen closely and immerse ourselves in the target market’s environment. 6. Watch carefully to see what bubbles up. Identify trends, commonalities, gaps and opportunities. 7. Develop a common and meaningful vocabulary that describes results. 8. Convene stakeholders around the opportunities and gaps that matter most to the community. 9. Together, define solutions and programs that align with market needs. 10. Ensure synergy among stakeholder’s offerings and cultivate initiatives that span the entire continuum of needs. 11. Nurture on-going collaboration, as a community, to ensure long-term economic development benefits.

To begin our research study, we needed good access to representatives of the population we wished to study. When we began to ask colleagues for referrals to women in tech we were surprised to discover an unconscious bias affecting our region: the mental picture we hold of someone in tech doesn’t connect to the actual women in tech. Society holds and subtly perpetuates an outdated and stereotypical image of a person in tech: male, antisocial, genius IQ, single minded, with low emotional intelligence. No wonder it was difficult for many of us to call to mind a woman in tech who fit this subconscious picture! So first on our list was to redefine the picture of a woman in tech in order to find the representatives we sought. We knew inherently that there is a natural blending of creativity, artistry and entrepreneurship with technology pursuits by women. Art and science are complementary rather than distinct and different. Through our study, we discovered our participants confirmed this knowledge. Their hobbies and interests as children or adults ranged from reading at the top of the list all the way to aquatic snails and Irish whistles. Each individual had their own unique interests and curiosity. There was a balance of the whole person in their daily life.

HOW We Studied

We took an entrepreneurial approach to this study. Our goal was to understand women in tech in the region and then develop the appropriate response to their needs. This response may be in the form of a community initiative,

entrepreneurial programs, or even a new area for discussion. The end goal of the study is to identify how we, as a community, could be the most impactful to the success of women in tech and science. We utilized a structured approach developed by Leslie Hielema to conduct this study which included principles from lean startup and new product development processes and applied them to civic development. The steps to this approach include:

It is through this type of “immersive and objective listening” that we are able to clearly identify root issues and most importantly, launch targeted initiatives that will resonate best with the market and propel us all to success.—Leslie Hielema,Florida Institute of Technology

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In addition to collecting economic data, we wanted to hear the stories of the women building technology companies in our community. We wanted to learn more about how they approached science and engineering and how their interest grew. We wanted to find the points in their lives when they struggled with their choice of industry, as we hear so many women do, and how they were able to overcome those challenges. We try to partly tell this story in their own voices – we’ve includes quotes from many of the women we spoke to. In interviews and surveys, we asked women about their approach to business, their creative pursuits, and their opinions on how we can reach more girls and women to get them interested in careers in science and technology. We think this information has implications for everyone working in tech, men and women, and gives us great insight into the mind of an entrepreneur. Here’s what we found out about who these women are and how they’ve accomplished so much.

PICTURED AT RIGHT:1. Elizabeth Burch, DIGNITAS Technologies2. Carol Cox, InterMedia Solutions3. Beverly Seay, SAIC and UCF4. Diana LaTour, LFE Capital5. Carol Ann Dykes, UCF Business Incubator

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WHO We Studied

We identified over 100 women who are building or leading tech companies and organizations and our list keeps growing. The types of companies these women are building include aerospace, civil engineering services, data analytics, electronics, hardware development, IT, medical, manufacturing, mobile and web development, modeling & simulation,

nanotech, sensors, software development, and virtual reality. We also interviewed women who have run tech companies but are now supporting other entrepreneurs in areas such as funding or business accelerators.

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How We Define a Technology EntrepreneurFor this study, we needed to define “technology entrepreneur.” We identified two categories: 1. An entrepreneur who starts and manages a company that offers products or services based on innovative scientific discoveries and principles. Typically, the entrepreneur has acquired deep scientific knowledge through study, education or experience. Through this knowledge, they have personally created a product or service that is successful in the marketplace. An example is Dr. Kay Stanney, who is an industrial engineer and President and Founder of Design Interactive which optimizes human-machine interfaces.

2. An entrepreneur who starts and manages a company that highly leverages technology such as digital technology. This person may or may not have studied this technology, but they are able to apply technology in innovative ways that provide a unique value proposition or competitive advantage for their business. An example is Suneera Mudhani, founder of Fattmerchant which provides merchants with credit card processing.


I can honestly say

that I was never a

conformist. I didn't

follow the “norm” and

I certainly made sure

that I received all the

facts before I made any

decision. There were

many times I refused to

do things just because

they were the “popular”

things to do.— Jennifer Dickerson, EnRep

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”PICTURED ABOVE:1. Carol Craig, Craig Technologies2. Carolyn Capern, CT Social, LLC3. Elizabeth Caffera, Cloud 3C4. Amy Jantzer, Echo Interaction Group5. Dasha Moore, Solodev6. Asia Hall, Neon Cowboys

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KEY FINDINGS

We wanted to understand the impact of these women from both an economic and civic perspective. It was important to create a snapshot of their companies and background. From this picture, we can gain deeper

insights into the people making a difference in our community and the world. In this study, we explored:

• Revenues • Employees • Funding • Professional, civic and social engagement • Degrees and universities • Mentors and role models • Awards

Revenue

When we analyzed revenues from the survey respondents, it equated to over $150M in revenue. This does not include a few outliers that were several hundred million in revenue.

Revenue ranges were collected across various ranges.

Under $250K = 36%$251K to $500K = 4%$501K to $1M = 25%

$1 to $5 M = 14%over $5M = 14%over $20 M = 7%


weVENTURE clients working on their

business model canvas.

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Number of Employees

When we looked at both full time, part-time and contract employees, these companies employed over 1,500 people. The larger organizations that were outliers were omitted so that they did not skew this total number. Here is the breakdown of employee ranges.

1 employee .................................... 13%2 to 20 employees .......................... 58%21 to 50 employees .......................... 7%51 to 100 employees ...................... 13%101 to 500 employees ...................... 6%500+ .................................................. 3%

Degrees

We looked at the educational background of these women and all had a college degree. It was interesting to see that 50% had technology or science degrees and 50% had degrees in finance, business, economic or arts.

50% Technology or Science Bachelor’s degree 70% of those had Masters degree

50% Finance / Business / Arts 24% Finance / Economics / Business Bachelor degree 26% Arts / Education degree 35% of those have Masters degree

Universities

We examined the universities and colleges that these women attended. Almost half of the women had advanced degrees.

100% attended college and received a degree 32% attended college in Florida47% attended college outside of Florida 21% attended colleges both in Florida and outside of Florida 47% had a Masters degree or a PhD

Sources of Funding

We explored how they funded the start and growth oftheir companies. Since some of the entrepreneurssurveyed were at pre-revenue or early revenue, theymay pursue outside capital at a later time, so thesenumbers represent a current snapshot at thispoint in time.

ORGANIC GROWTHRevenue and personalsavings to fund growth

63%63%

FRIENDS AND FAMILYLoans from familyand friends

6%6%

EXTERNAL SOURCESFunding from banks,angel investors, and venture capital firms

EXTERNAL SOURCESFunding from banks,angel investors, and venture capital firms

33%33%


Athena NextGen

Athena PowerLink

Association of US Army

Brevard County Schools

Business Executives Network

Business and Professional Women’s Foundation

CANVS

CareerSource Central Florida

Center for Advanced Entrepreneurship at Rollins

Central Florida Navy League

Chamber of Commerce, East Orlando & Oviedo

Citrus Club Young Executives

Committee Member

Camaraderie Foundation Mentor

Camaraderie PTSD

Coalition for the Homeless

Compassionate Hearts

Crooms Academy of IT

BAC

The Central Florida Partnership

Child Rescue Network

Dodge Ball for Charity

Early Learning Leaders

Executive Association of Greater Orlando

FireStarter

First United Methodist Church Oviedo

Florida Chamber of Commerce

Florida Citrus Sports Bowl Scout and Chair of Military Affairs Committee

Foundation for OCPS

Girl Scouts

Habitat for Humanity

Heroes Commons (Homes for Vets)

History Center Valencia College

Human Factors and Ergonomics, CAI

IOA Run

National Center for Simulation

Northland Church

MACF

Melbourne Chamber of Commerce

Melbourne Regional Tech Council

Mentor at UCF for WISE program

Member of NDIA

Metropolitan Business Association of Orlando Member

Mills50 Business Association

Mission United

NAEYC

NBIA

Orange County Regional Board of Director

Orlando Crime Stopper Board Director

Orlando, Inc. Board of Directors

Orlando Sports Foundation (raising funds to fight breast cancer)

Orlando Tech Association (OTA)

Orlando Tech Meetup

CureBowl

Project Management Institute

Project Management Professional

Rotary Club of Orlando Foundation

Board Center for Advanced Entrepreneurship at Rollins Board of Directors

Rotary Club of Orlando

Rucksack for Wounded Warrior

Samaritan Resource Center

SBRN of Central Florida Steering Committee

Seminole County Democratic Executive Committee

Small Business Development Council

South East Regional Internet Society

Space Coast EDC’s Innovation Council

Starter Studio

Startup Florida

STEM Alliance

Summit Church Youth Ministries

Society of Women Engineers

UCF

UCF Incubator

UCP of Central Florida

University Club Board of Directors and head of Charitable Works Committee

weVENTURE

Winter Park Tech

Women Business Enterprise Council

Women in Defense

Women’s Chamber of Commerce

Women Impacting Public Policy

USWCC-U.S.

Professional, Civic and Social EngagementAll of the survey respondents were involved at a local, state, or national level in multiple professional, civic or social organizations. Here is a listing of more than 70 organizations:

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It’s time to start reframing the conversation around women in tech in terms of potential.

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PICTURED ABOVE:1.Alison Wildblood (McKillop), CAMCAD2. Dr. Isabel Perry, 21st Century Safety3. Susan Scrupski, Big Mountain Data4. Lydia Chicles, BOLD! Technologies

Mentors

Mentors and role models play an important role in success.We asked women who was most influential in their lives. The results are below.

36%Parent

19%Teacher

26%Employer

6%Role

Model13%None

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AwardsMany of the women have received recognition for their hard work and contribution to their communities. These awards have come at the local, state, and national level, and from a wide range of organizations.

ADDY Awards

Athena PowerLink

AUSA Award for Excellence 2014

AUSA Third Region Merit Award 2010

Baggage Screener Award

Best Company To Work For

Creativity International Awards

Don Quijote Award

Emmy Awards

Fast Company Most Influential Woman in Tech

FIPA

Florida Citrus Sports Chairperson of the Year 2012

Florida Companies to Watch

Florida Trend Magazine

2011 Gartner Selected as Cool Vendor

Nominated for Girl Scout Women of Distinction

Graphic Design USA Awards (GDUSA)

GrowFL

IACC Entrepreneur of the Year

Inc. 500

Inc. 5000

International Hot Rod Association

IT Florida Board

Jeb Bush

Lake Eola Heights Neighbor of the Year 2013

Maker Award

Modeling and SIM Magazine Award

NASA’s Small Business of the Year

NAWBO Award

OBJ Women of Year

Public Service Award

Rotary Club

SBA Women Business of the Year

Stevie Award

40 under 40 OBJ

TELLY Awards

Top M&S Companies for OBJ

Top Simulation Company OBJ

Venture Forum

W3 Awards

Women of Distinction

Women Who Mean Business OBJ

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PICTURED AT RIGHT:1. JoAnn Newman, Orlando Science Center2. Karen G. Connors, Quality Project Control3. Linda Rolf, Quest Technology Group and Quwho4. Angela Alban, SIMETRI, Inc.5. Kathy Chiu, The FAN Fund

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Their Path to TechWe wanted to understand how and why they become involved with technology or science. This is what we heard.

Interests and Passion is the Starting PointIn most cases, the path to science or tech did not start from the technology itself, but began with a personal interest such as:

• Entrepreneurship • Curiosity about how things worked • Desire to solve a meaningful problem • Enjoyment of games or puzzles • Desire to invent something new • Desire to make a difference in the world

I would read through encyclopedias or books about greatest inventions like the telephone, automobile, golf clubs, boats, etc. I also took a great interest in sports and learned about the strategy and science behind the analytics and probabilities to strategize games. Tu-Hien Le, BeauGen

Elaine Larsen not only runs the company and races jet dragsters, but she also is developing a comic book where the superhero is “Blaze.” This effort is intended to inspire and empower, especially girls to be their own superhero.

Blaze builds the cars, propels them to go faster and knows where she wants to go. If we want to girls interested in engineering we need to make it look cool, fun and visually appealing. Elaine Larsen, President, Larsen Motorsports

Software development is a field where we can make a big difference in the world. Angela works in the defense industry and feels she makes a difference by improving and saving the lives of soldiers through modeling and simulation products. Angela Alban, Simetri

My strongest memory of wanting to create things was a typical hot summer in Orlando when I was about 8 years old. My best friend and I were playing outside, bored and wondering what to do. When she asked the question “what do you want to do,” my answer was very simply “I want to invent something.” Linda Rolf, Quest Technology Group and Quwho

Leila said “I never really had a passion for science or math, rather my passion was to make a difference in the world; which I believe to be the meaning of engineering.” Though her first degree was in communications, Leila chose engineering because it was “practical, solid, marketable and believed obtaining an engineering degree, would make others see her as smart. Her statement for girls: science is the


language necessary to make a difference in people’s lives. Leila Nodarse, Terracon (Nodarse and Associates, Inc. was acquired by Terracon in 2011).

When you can apply passion to any problem, you’re going to stick to it longer. When you care about what you’re working on, it makes a huge difference. Letting people have their own voice, their own passions, and celebrating the diversity of opinion and experience, and empowering their solutions is so important. Shannon Landin, Codecraft Lab

Problem-Solving is the Prize 100% of the women we spoke to express their passion for problem-solving. They like being able to identify a meaningful problem, examine it from various angles, acquire the resources needed to solve the problem and then find a solution. This was how they defined their day, the core of what they do as

entrepreneurs and executives. For them, their sense of success at having solved a tough problem increased their sense of enjoyment and satisfaction. Small or large, you feel like you’re making a difference if that problem is getting solved. Shalyn Dever, Chatter Buzz

Shalyn has grown her company to several million in revenue with 80% of her workforce being women. She has her degrees in Electrical Engineering and an MBA. She defines smart as the ability to understand a situation and solve the problem. It is about taking the time to find the best solution and using your street smarts to find the right resources. Women are great problem solvers and that’s what an engineer needs. Shalyn Dever, Chatter Buzz Media

Early and Consistent Exposure is the Key

Dad was an entrepreneur. Mom bought me a chemistry set and told me I could do anything. I believed her. Jennifer McKinley

This has been reflected as a national trend. In a study of 100 women tech founders in Silicon Valley, it was found that over half of the women had a parent who was an entrepreneur.

Mary discovered her passion at five when she had fun with her dad doing math puzzles. She discovered her career path in the Air Force when an engineer told her that she was good at fixing things. The perception that she would be stuck in a lab for endless hours as an engineer made this career unappealing. But she found a passion for satellites and space and went back to college to study electrical engineering, graduating first in her class. Mary thought that the ability to send satellites to space seemed like a radical power to have and calls her degree her “Jedi Power.” She has multiple patents in digital cinema technology. Mary would tell young women that just as you can train the muscles in your body, you can be good at engineering. Mary Spio, Founder & CEO, Next Galaxy Corp.

Parents or early role models were key to influencing curiosity or an interest in science or technology.

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Mary A. Spio, president and CEO of Next Galaxy,demonstrates the company’s flagship application - CEEK, a fully immersive social VR hub for accessing entertainment, education, and branded experiences.


Self-Belief Cultivates Confidence The women interviewed had strong awareness of their own intelligence and capability. They demonstrated courage and conviction. The ventured down new and unfamiliar paths, moved gracefully around obstacles, derived strength from opposition, and resourcefully sought knowledge and know-how. These women are renegades and rebels. They had a strong belief that they could accomplish what they set out to do. There was an underlying foundation of belief that they were worthy of success and achievement. They believed they were part of something bigger than themselves. Girls assess their mathematical abilities lower than do boys with similar mathematical achievements. At the same time, girls hold themselves to a higher standard than boys do in subjects like math, believing that they have to be exceptional to succeed in “male” fields. By emphasizing that girls and boys achieve equally well in math and science, parents and teachers can encourage girls to assess their skills more accurately. Why So Few? Women in Science, Technology, Engineering and Math, AAUW, 2010 We observed that these women had a continuous path of progressive accomplishments that were key to the development of their self-belief and self-confidence.

I believe confidence comes from a sense of control over outcomes. Carol Craig, Craig Technologies

Early and Consistent Exposure is the Key

Early, prolonged, and consistent exposures to science or technology conceptsand ideas from a young age seemed to be a common thread in the storieswe heard. Parents or early role models were key to influencing curiosity or aninterest in science or technology. Parents that encouraged children to reachfor their dreams with the knowledge that hard work was a part of the processwas another common theme.

Supportive parent that told them they could achieve what they wanted by working hard.

Parent was abusiness owneror entrepreneur.

28%28%

Had a family memberwho was an engineeror scientist.

Had a family memberwho was an engineeror scientist.

25%25%

38%38%

Did not havea strong role model when they were young.

13%13%

Of those with a technologydegree, had a family memberwho was in science or tech.

Of those with a technologydegree, had a family memberwho was in science or tech.

70%70%


Affirmation that someone has done a good job gives the person the fortitude to step outside a comfort zone and experiment with unfamiliar behaviors and new ways of exercising leadership. An absence of affirmation, however, diminishes self-confidence and discourages him or her from seeking developmental opportunities or experimenting. Women Rising: The Unseen Barriers Harvard Business Review, 2013

Angela said she was raised to be comfortable in own skin and had mentors that had her back. This gave her courage and the opportunities along the way that fed her confidence. Angela Alban, Simetri

I taught for sixteen years, and in general, most girls have less confidence and less faith in their intelligence. Whether it’s how we’re raised or society, there is a challenge there in terms of how much we believe in ourselves. Kay Stanney, Design Interactive

Providing girls with the early and consistent exposure to technology combined with the experience of progressive accomplishments would be a strong approach to cultivating confidence and self-worth needed to pursue futures in technology and science.

Combine Left and Right Brain Thinking

These women seemed to naturally combine right brain and left brain thinking. If you ascribe to this theory, the right side of the brain is best at expressive and creative tasks and the left brain involves logic, language, and analytical thinking. They echo a type of modern day renaissance approach whereby they acquired profound knowledge or proficiency in more than one field. They value intellect, creativity and emotional IQ equally. For them, technology is not just about math and science, but incorporates skills like logic, problem-solving, design thinking, communication and collaboration. Growing up I built treehouses and tinkered. I was always building and creating different things. That’s what I like about engineering. You get to create. And in our field, you not only get to create, you get to design. I grew up around a lot of

artists and painting. Engineering allows you to mix design and creativity. It allowed me to do the kind of building and creating that I’ve been doing since I was a little girl. Kay Stanney, Design Interactive

We know that the future requires diverse skill sets. Our degrees should reflect that understanding. At the college level, we need degrees that inspire women with both the creative and the scientific aspect of technology. When discussing college degree choices, many would have entertained the idea of dual degrees or minors that expanded on their diverse interests. Combining Engineering with Entrepreneurship or Computer Science with Fashion would have been an intriguing option. Supporting multidisciplinary interests and skills is important. For example, Lehigh University in Pennsylvania has an engineering section on its website that reads, “College should be about the arts AND the sciences, not the arts OR the sciences.” The university offers an integrated degree in engineering, arts, and sciences for “modern renaissance thinkers.” These programs are designed to prepare students for careers in health/biotechnology, information/communication technologies, environmental/energy engineering, advanced materials/nanotechnology, and design/manufacturing.

Donna Mackinzie had a dual interest in finance and computer science. She received her degree in accounting but had a natural interest in computers. She went to work in accounting after graduating, but what she really liked was problem solving and developing software application for businesses. Because of this dual expertise, she has been instrumental in securing venture capital for tech ventures such as IZEA and Channel Intelligence and has built relationships with investment firms such as DFJ in Silicon Valley, DFJ Gotham, Village Ventures, Inflection, Internet Capital Group, Noro-Moseley, and Lovett Miller. Donna Mackinzie, Starter Studio


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PICTURED AT RIGHT:1.Jennifer Dickerson, EnRep, Inc.2. Helene Abrams, eprentise LLC3. Marnie Forestieri, Little Explorers Academy and the STEM Squad4. Elaine Larsen, Larsen Motorsports5. Donna MacKenzie, Starter Studio6. Susie Glasgow, Kegman, Inc.7. Laine Powell, Collegiate Pathways8. Bree Goldstein, UpDog

theFACeS OF teCh

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COMMUNITY INSIGHTS AND OPPORTUNITIES

Embrace The New Power & The New Economy:A Fourth Wave of Capitalism Emerging

The way we do business is changing. We’re entering a new wave of capitalism that will be based on a purpose-driven enterprise model emphasizing global connectedness, authenticity and a more personal business model. This shift

will shake up our business culture and require new skill sets of our business leaders. This new wave resonates with womenpreneurs, which has resulted in innovative products and services, unique business models, and empowering workplaces. A recent article in the Harvard Business Review examines the skills sets required by this new economy: the ability to continually learn, communication skills, a developed worldview, an entrepreneurial mindset, ethics, initiative, interpersonal skills, problem-solving ability, teamwork, and vision, among other skills, will determine who succeeds as businesses grow to meet the demands of evolving industries. Throughout our study, we noticed strong, inclusive cultures, vibrant communities of people who were comfortable with each other, supported in their interests and pursuits, and honored as individuals with their own personalities. The environment was often casual, comfortable, but clearly professional. Most importantly, perhaps, was that through all of our conversations, the women we spoke to often referred back to the contributions of their team members. They emphasize the importance of giving each person the freedom to express themselves, to experiment without judgement, to make mistakes, and to learn from them. They emphasized the ability to listen and learn about each individual, to let them speak for themselves. In business we talk about teamwork, building the right team and chemistry. Every single person has something special, something they’re going to bring to the table. When a new employee or intern walks in here, I look at them and I see the outside covering. But I say “now tell me about you” because I find the little nuances of what they do or know so interesting. Those are the things that are going to bring a spark to the project. Elaine Larsen, Larsen Motorsports

The women we spoke to often reffered back to the contributions of their team members…they emphasized the ability to listen and learn about each individual, to let them speak for themselves.

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• I had experienced a male with less credentials making more money than me in the same job. Unfortunately, my efforts to resolve that were not met and I ended up changing companies since I felt I was not valued.

• I had hired 2 executives who had no respect for any of my female employees and of my values of an equal and diverse workplace. It lead me to terminate them in order to firm my commitment to an equal and diverse workplace.

• I came in as a partner. I was one of three. I went to my first partner meeting, and in my bag I got a box of cigars and a necktie.

• I’ve encountered salary issues and workplace harassment. It’s still affecting me and I don’t think we ever really get over toxic work environments.

• Many years ago during a performance review I was told that I should just get married and let my husband support me. While I had met or exceeded the expectations for my position, the larger raises needed to go to men because they had families to support. I was a divorced single mother working full time and attending college full time.

• While my male peers went to business dinners, basketball games, I was left in the basement to continue with software updates.

• I was told by my male peers at university, “You won’t last when it gets too technical.”

• I overheard the statement “Do we really want to take something away from man and give it to a woman?

• I would make suggestions about business that were dismissed. I had to hire men to say those same words to be accepted.

“My math teacher said “let me tell you in terms you

understand – shopping.”

”

Kay, an engineer, has grown her company to 80 employees with over $8M in revenue. She believes success begets success and hires super smart people and gives them free rein to do what they want. She has employed at least 50 women with tech and science degrees. Kay Stanney, Design Interactive, Inc.

“Through this study, and our work with hundreds of weVENTURE Orlando clients, it is clear that talented Central Florida womenpreneurs are highly motivated to bring commercially viable products to market in ways that are enriching to team members, for a greater good that satisfies a deep sense of purpose and/or positive societal, economic or environmental impact. Embracing the new power and the new economy is part of what can make our region the #1 choice for women to start and grow their companies, unto the benefit of all.” Danya Shea Glenny

Address Unconscious Gender Bias

There have been some challenges on the path to success. 90% of women surveyed felt that they had experienced negative gender bias. Gender bias could be defined as unfair or unequal difference in treatment because of someone’s sex. Subconscious bias can have a negative effect on a person’s decision making abilities and self-confidence. It can limit the effectiveness of business relationships, fund raising, and team dynamics. Researchers asked people of both sexes to watch pitch videos. Some of the videos were narrated by a man, others by a woman. 68 percent of the people who watched the videos said they’d fund the man, compared with only 32 percent who said they’d fund the woman. Those watching the videos--men and women alike- considered the pitches from the men more “persuasive,” “fact-based,” and “logical” than the pitches from the women. Even though, word for word, the scripts were exactly the same. National Academy of Sciences (2014 Study)

The first step is developing an understanding of what bias looks like today, and where it comes from. Here are some specific examples fromour study:



According to a Silicon Valley study, 33 percent of female tech entrepreneurs reported facing “dismissive attitudes” from their colleagues and 15 percent said their abilities had been questioned. Women in Silicon Valley report overt biases in hiring and promotion processes in many software technology and investment companies.

Unconscious biases are created and reinforced by our environments and experiences. Our mind is constantly processing information, oftentimes without our conscious awareness. When we are moving fast or lack all the data, our unconscious biases fill in the gaps, influencing everything from product decisions to our interactions with coworkers. Google Ventures Research

In Harvard Business Review “Women Rising: The Unseen Barriers” found that CEOs who make gender diversity a priority, by setting aspirational goals for the proportion of women in leadership roles, insisting on diverse slates of candidates for senior positions, and developing mentoring and training programs, are frustrated. They and their companies spend time, money, and good intentions on efforts to build a more robust pipeline of upwardly mobile women, and then not much happens. Organizations inadvertently undermine this process when they advise women to proactively seek leadership roles without also addressing policies and practices that communicate a mismatch between how women are seen and the qualities and experiences people tend to associate with leaders. The problem with these leaders’ approaches is that they don’t address the often fragile process of coming to see oneself. One way to mitigate subconscious bias is to set well-defined metrics for interviews, hiring processes, and performance reviews. Some companies, including major technology companies that have had difficulty recruiting and retaining female talent, have implemented new internal systems for assessing skills and performance using metrics in an attempt to eliminate personal bias. Ensuring that we are doing the necessary leg-work to identify candidates for Board of Director positions, speaker opportunities, award programs and participation in community initiatives is another step forward.

“The Central Florida tech community is starting to take an honest look at the lack of gender diversity of expert panelists, guest speakers and subject matter experts. At weVENTURE

we are getting more requests for referrals to insightful women leading influential organizations in various industries for local events. To truly see an unbiased representation of women thought leaders, we need to keep up the intentional work and of seeking out and inviting more women on stage at our local tech events.” Danya Shea Glenny

Redefine Our Conversation with Girls

We asked, “As a nation, do we do a good job encouraging girls to consider futures in science or technology?” 70% of our respondents said no, we could do a better job.

It is imperative to redefine what careers in science and technology means to women. No longer should we view science and technology in the stereotypical manner geek culture perpetuates. Today’s girl desires to balance multiple interests. Science and technology is no longer antisocial or an unusual career choice for women. The people-oriented and socially beneficial aspects will attract women, as it does in the medical and social sciences. A meaningful career embracing creativity, passion and problem solving contributes to the dissolution of stereotypes. Leslie Hielema

Programming class in high school got Elizabeth excited about how computers worked. To encourage girls, she would show them fulfilling and challenging careers and their associated salaries, stressing the importance of being self-sufficient as a woman. Elizabeth Burch, Dignitas Technologies

Bev Seay, who has her degrees in computer science, grew SAIC from 12 employees to 2,500 and $640M in revenue. Talking to girls about “simulation” and the ability to create virtual worlds would be a good place to start. This would be appealing to girls since they can interact with female avatars, solve meaningful problems in creative ways, understand the outcomes of decisions and be part of a diverse, inclusive group. Simulation is a tool to experiment and is part of everything we do. Bev Seay, former Senior VP, SAIC (Science Applications International Corporation)


“In high school I thought I would be a linguist. Then I realized that there are so many languages within the field of computer science that are beautiful, and even if you go to another country, they’re going to understand the computer science languages because they’re in the field. I found something really magical about that.” Asia Hall, Neon Cowboys

Carol Craig discovered her passion in 7th grade in a computer science class. That first computer class hooked Carol on writing code while her curiosity was fostered by her mother. Solving problems by writing code was tangible and fulfilling. To get a girl in science or technology, it’s all about nurturing passion. She said “I was never shot down, I was always encouraged. It’s all about role models in every aspect of a girl’s life.” Carol Craig, Craig Technologies

Prepare Women to Pursue Capital

Preparing women to access bank loans, working capital, angel investments or venture capital funding will open up new opportunities for business growth. Studies from the National Women’s Business Council indicate:

• If women-owned or -led companies were able to access more outside capital, they would be more likely to survive and grow because firms that use more outside capital have higher survival rates and revenues.

• Undercapitalization limits enterprise growth by constraining business investments in key assets such as equipment, employees, or inventory necessary for growth; the business does not have the funds it needs to meet market demands.

• On average, men start their business with nearly twice as much capital as women.

• Women received only 2% of total funding from outside equity, compared to 18% for men.

“Envisioning a creative, meaningful, passionate and problem-solving career is compelling to many girls as they seek to imagine their futures. The horizon of possibilities expands enormously when a young girl sees a woman she can relate to solving a compelling problem using technology. We can model new possibilities for our girls, and we must change the language used with our girls if we wish to give them unrestricted access to the economies of the near future.” Leslie Hielema

Women account for only 4.4% of the total dollar value of conventional small business loans. In other words, just $1 of every $23 in conventional small business loans goes to women-owned businesses.

— Committee on Small Business & Entrepreneurship Report, July 2014

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Helene taught herself to code when computers were new on the scene. Larry Ellison, founder of Oracle, pursued and personally recruited Helene because of her expertise in databases and accounting. She has founded multiple companies and she had to meet with 77 Venture Capital firms, before she eventually received $25M in venture funding. Helene Abrams, eprentise

“Adequate funding at launch and growth phases is important for speed to market, gaining market share, acquiring talent or competition, and for opening new markets. Giving womenpreneurs equal access to all the funding options allows them the opportunity to compete based on merit in the marketplace, ultimately giving us all better choices that align with the changing value sets of conscious consumer behavior.” Danya Shea Glenny

Harness Shared Leadershipand Collective Intelligence

The practice of shared leadership and collective intelligence was apparent within the companies.

Shared Leadership: The practice of bringing out the greatest capacity in everyone by empowering each individual to be responsible for and engaged in the success of the whole.

Collective Intelligence: Group intelligence that emerges from the collaboration and collective efforts of many individuals.

“If you have come here to help me, you are wasting your time. But if you have come because your liberation is bound up with mine, then let us work together.” Australian Aboriginal artist, activist, and educator

In a recent article “The Paradigm Shift to Shared Leadership” in Conscious Company magazine, it stated that when we reorient ourselves to shared leadership, we naturally rise together and open toward each other. As leadership adapts to meet the needs of the times, it simultaneously shapes how we see our problems, our solutions, and ourselves. We are at the beginning of a paradigm shift from top-down, positional leadership to more systemic and collaborative ways of leading, generated from the wisdom that our humanity, equality, wholeness, and collective intelligence matter first and foremost.

As individuals and as a community, we inherently know that if “you do better, we all do better.” By embracing the philosophy of “a rising tide lifts all boats” in all that we do, we empower and activate a community to achieve great things. Leslie Hielema

Within the companies these women established, there was the concept of collective intelligence baked into their culture. Sharing intellectual and relationship capital was part of their personal and business philosophy. Most were involved with some form of mentoring or advising, sharing their knowledge and connections with those inside and outside their companies.

Tech 'preneurs camp for high school students developing business and tech savvy young women.



“First hand, I’ve seen weVENTURE clients consistently prefer to learn in group settings in order to speed their growth through the collective intelligence of their peers. The learning environments we facilitate rapidly evolve into problem-solving situations where the experiential knowledge attendees gain becomes greater than the course material or exercises could have intended.” Danya Shea Glenny

Start a New Conversation

There is a renewed conversation about equality in the workplace and about workplaces adapting to the “whole” person. The way we work and why we work is shifting. Cooperative business models, crowdsourcing and the democratization of information are examples of a shift toward collective intelligence and shared power. In this new era, leaders need to cultivate mutual trust, compassion and respect. The hierarchical model won’t work in this era of shared leadership.

“Women are building innovative high growth companies, shaping industries, and impacting our global economy. With this influence, we are reshaping the conversation about entrepreneurship, business models and supportive cultures. Through collaborative leadership, women are able to cultivate the genius of the group. We are redefining what it means to be successful as women. We understand that our career paths are not linear, but multidimensional and circuitous. We embrace both grace and grit as part of the process.” Leslie Hielema

“In 2015 there is already a new conversation underway across our nation and the globe about what success is for women and the way women do work. We invite you to an elevated dialogue around the opportunities and possibilities before us to build a future for our region that enriches the lives of ourselves and our neighbors, and that expresses our unique contribution to the global economy.” Danya Shea Glenny

SBA's InnovateHER Pitch Competition hosted by weVENTURE at Microsoft, Judges Diana LaTour, Dayle Moore and Michael Judith select Frances Titus of EarthLove Tea Company as Regional Winner.

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NEW INITIATIVES

In response to the research findings, community partners, weVENTURE, and Florida Institute of Technology, together, are launching three new initiatives.

weLEAD

In order to harness the power of collective intelligence, we launched weLEAD, a collaborative ecosystem for businesswomen and womenpreneurs. It symbolizes the characteristics of the new economy and new power and is intended to improve access to capital and address unconscious gender bias. The weLEAD website provides an easy-to-navigate ecosystem where one can find the right resource at the right time. It is a place where everyone can contribute their relational capital to the ecosystem, a “big door” where we can better connect with one another and a central hub that lists all of the resources we have found to be beneficial for growth as leaders and entrepreneurs. Resources include:

(1) Associations and Organizations

(2) Advisors and Mentors

(3) Meet-ups and Events

(4) Leadership Development

(5) Global Initiatives

(6) Leveraging Tech

(7) Awards and Recognition

(8) Start-ups and Entrepreneurs

(9) Policy and Politics

The ever-changing ecosystem is organic, holistic and dynamic, creating a collective support system that is continuously evolving. Special thanks to Appleton Creative for creating the weLEAD website.

To access weLEAD, go to weLEADOrlando.comContact: Leslie Hielema at [email protected].



Girls Who Code

In response to the need to redefine the conversation with our girls regarding futures in technology and science, we are launching the national program Girls Who Code. Since beginning in 2012, Girls Who Code to date has served over 3,860 girls in 29 states. The vision of Girls Who Code is to reach gender parity in computing fields based on the fact that more girls exposed to computer science at a young age will lead to more women in technology and engineering fields. Together with leading educators, engineers, and entrepreneurs, Girls Who Code has developed a new model for computer science education, pairing intensive instruction in robotics, web design, and mobile development with high-touch mentorship and exposure led by the industry’s top female engineers and entrepreneurs. The U.S. Department of Labor projects that by 2020, there will be 1.4 million computer specialist job openings. To reach gender parity by 2020, women must fill half of these positions, or 700,000 computing jobs. Anecdotal data tells us that an average of 30% of those students with exposure to computer science will continue in the field. This means that 4.6M adolescent girls will require some form of exposure to computer science education to realize gender parity in 2020.

With support from public and private partners and Girls Who Code, together, we can educate, inspire, and equip high school girls with the skills and resources to pursue opportunities in computing field. By equipping girls with 21st century tools for innovation and social change, we can ensure the economic prosperity for women, families and communities across the globe.

Information is available at weVENTURE.org Contact: Leslie Hielema at [email protected].

Women Who Drive Award Series

We want to recognize women who drive elements of the new conversation around entrepreneurship and technology. This new award series will showcase women who embody the new power and the new economy. This may be through revenue growth, innovative business models, accessing capital, or harnessing shared leadership and collective intelligence. The premier award program “Women Who Drive” will be held in Orlando in 2016.

For more information, go to weVENTURE.org. Contact: Shea Glenny at [email protected].

weVENTURE clients and coaches focused on business

innovation and growth.

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For more information about weVENTURE, please visit weventure.org

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Women in Tech - Renegades and Rebels