SwissFinTechLadies entered the market to reach three goals
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We are introducing the 3 main goals for the SwissFinTechLadies
Karen Wendt is investment banker by profession, fintech investor by passion, mentor and coach by nature and president oft he SwissFinTechLadies, Canton Zug.
SwissFinTechLadies entered the market to reach three goals
1.Get more females into the fintech, blockchain and crypto space as women mean business
Engage them, reduce fears about the technologies and motivate women to enter the space, transporting curiosity and passion to co-create with the ones that are active in these industries already. While some might see the industry as male dominated, the same was true about investment banking 20 years ago. Now we see more women entering the industry and providing added value to it. A recent study conducted by the Boston Consulting Group found that women generate more revenue with fewer resources. Other studies show that women are good at systems thinking. They constantly analyse the leverage points and have a philosophy of growth. Women acquire and use these skills to feed their families.
Women are usually very interested in. increasing productivity, they are risk-aware not risk adverse and they want to have a sustainable business model which means the model shall be financially sustainable, environmental and socially sustainable and apply good governance practices.
Women bring their values with them when they enter an industry. Values are different from emotions. Emotions normally are very short lived, driven by your limbic system, the dinosaur part in our brain, where the fight or flight reflexes are engaged. . Values help to drive decisions and solve dilemma situations; they are normally engrained in our cultural heritage. While emotions can be quite hot, values are based on reflection and therefore engage the neurocortex in your brain. They feel cooler than emotions and they reduce risks. Therefore many impact investors not only do a financial and market due diligence, but they add leadership and team due diligence as they know that having different perspectives on a problem not only helps to create better problem- solving, but also allow for starting from the desired end point, therefore allowing solution creation which goes beyond problem solving. Based on the nature of mothering women are very capable of engaging in anti fragility. Anti fragility is more than just resilience the ability to recover from mistakes. It anticipates possible undesirable developments and creates business models that are crisis-proof and lucrative. The "female factor" is the key to a balanced business model. Especially in a crisis, it is important that the management takes in as many perspectives as possible in order to develop a resilient position, to overcome the crisis and even to become anti-fragile.
2. Make female role models visible and encourage women to enter the fintech space
What women need to enter the fintech and blockchain space are female role models. Studies shows that women are underrepresented in management positions in banking, technology, blockchain and fintech. So where is the female factor in the blockchain?
Since women, compared to men, have only recently entered the business and investment phase, the heads are full of male examples of successful entrepreneurs and investors: Mark Zuckerberg, Steve Jobs, Bill Gates, Warren Buffet and George Soros.
Of course there are very successful female investors - but how many people have really ever heard of Abigail Johnson or Deborah A. Farrington? This lack of female figures, which comes to mind among successful investors and entrepreneurs, not only affects investment decisions. It also influences career decisions. Due to the observed lack of female participation, SwissFinTechLadies was born. The idea is to create a female ecosystem that makes successful women visible. SFTL educates, initiates and innovates to inspire women to enter the industry, and facilitates collaboration in the areas of finance, blockchain and fintech
3. Close the Female Investment Gap, the Female Entrepreneurship Gap and the Female Funding Gap
Women need to create and engage, leaning back and sit and wait fort he regulator is not an option. When women invest, they have their say and they have an investor impact. Too many women are not yet investing. Many do not even know the differences between philanthropy, saving and investing, let alone secondary and private markets knowledge. Many just do not know where to start or get victim of the many gender washing investment opportunities that are visible in the market and philantropy at best. A sound angel investor education for females based on cohort based learning helps female investors to start safely, be supported by SwissFinTechLadies and their investment cohorts.
IN addition our Venture Capital for Diversity format (VC4Diversity) tackles the female funding gap. It also creates visibility for female role models. With VC4Diversity start-ups with fat least one female co-founder can pitch in front of our VC 4Diversity committee, the best ones get further exposure to other more international investors.
Women must also do their homework. Increase their investment and increase their personal visibility. Both are the main activity areas of the SwissFinTechLadies. We are an integrative network that invites men to create and work together with us based on an ambassador role. Become an ambassador and support the female factor in fintech, blockchain and crypto. We at SwissFinTechLadies believe that we are stronger together. Let us take responsibility together for an anti-fragile future.
.... read more about investors impact next week
Karen Wendt
President of SwissFinTechLadies