“Accelerating Angels,” an investment group led by women, has been established to foster the growth of female-owned businesses in central Ohio. The move comes in response to less than 2% of venture capital funding being allocated to female-led businesses. Emphasizing the disparity, these local women are stepping up to encourage the enhancement of diverse business leadership.
The group, co-founded by veteran angel investor Cindi Englefield, has highlighted its first two funding recipients, signaling their ambition to promote the often-underestimated field of female entrepreneurship. The initiative aims to rectify the longstanding gender imbalance in investment opportunities and give female entrepreneurs a platform to prosper.
Layered within the funding assistance, the group provides mentorship and guidance, viewing these relationships as partnerships that need more than just capital to thrive. The first recipient is a software platform named Measurement Resources Company that uses data to measure the success and impact of various programs, fostering social reform and growth.
In addition to the software platform, other beneficiaries include a meeting and event management company, a software development firm, a green startup promoting sustainability, and a healthcare organization committed to improving the affordability of medical treatments.
Boosting female-led enterprises in Ohio
These beneficiaries highlight a diverse selection of businesses being supported and underscore the importance of various industries contributing to the economy.
Through these investments, female-led ventures have been noted by Englefield to generate 35% higher returns and provide accelerated exit for investors. Similarly, these ventures display strong leadership, a knack for innovation, heightened governance discipline, and resilience, elements that are attractive to investors. The varied perspectives brought about by increased diversity in the team also enhance the adaptive capability of the organisation.
Accelerating Angels is not merely a funding body, but also champions gender equity in the business world. The initiative offers more than just financial backing, but also the chance for female entrepreneurs to prove their worth in their respective industries. Beneficiaries express gratitude, noting that the program’s success will enrich the stature of female investors, thereby strengthening the course and extending its reach, thus creating a cycle of empowerment and prosperity.
