Women Entrepreneurs in Tech: Are we the Minority Because we Limit Ourselves?

As a woman entrepreneur and a woman in tech, I’m often surprised by the number of women who talk to me about how tough it is to get ahead in this world.  Let’s not pretend this isn’t an issue.  Statistically, tech companies with a female co-founder have secured only 10% of venture funding according to the CrunchBase Women in Venture Report. 

 

I’ve been blessed to have great male role models in my life that have always pushed me to do whatever it is that I want to do.  It started with my father and my two brothers who never let me back out of anything just because I was a girl.  It was quite the opposite actually.  We all played football in the yard and practiced our pitching on the mound lines that my dad painted on the driveway where he would crouch at the painted home plate that’s still on the driveway some 20 years later.  It continued in several companies where I was the only female working and not only did I have a seat at the table, it was expected that I contribute.

 

Even with all of this, sometimes there’s a voice in my head telling me that I won’t be able to do certain things.  I know other women have this too and men have it as well.  Are men better at tuning this out and going after what they want full speed ahead when they’re seeking funding?  Are they not intimidated because they know they have a better chance of securing funding?  Man or woman, getting this funding is no easy feat.  CB Insights, an organization that compiles private company data, sifted through the numbers and found that only 28% of companies exited through M&A or IPO and only 1% became the coveted “unicorns” of the industry like Airbnb or Slack.  The odds are against all of us, despite our gender.

 

However, self confidence may be part of what’s causing this.  A study out of University of California at Davis published in the Journal of Personality and Social Psychology indicated that there’s a large gap in self confidence between women and men in western industrialized countries such as the US, UK, and Australia.  Is this showing up when women are in tech startups and seeking funding?  Maybe.  Investors are like anyone else in that they can sense low self confidence and that doesn’t give them the confidence that the startup will give them a return on investment.  When people walk in and pitch with more self confidence, they instill a feeling of trust which can foster funding opportunities.

 

What can be done to improve this confidence when pitching?  It starts with knowing as much as you can about the investors so you can easily build a rapport that’s natural.  From there, the pitch should be practiced in situations as close to the real thing as possible.  The art and science of negotiation should be studied and put into practice once in conversations with investors.  Women normally don’t negotiate as well as men but armed with knowing this, again, practice can make a big difference.  Training is essential in all of this and that’s what we at Imua Services are doing.  We’re on a mission to equip and lead 1 million startups by the year 2020 including women in tech. Women’s Entrepreneurship Day is on November 19th, in partnership with the United Nations, 144 countries, and 22 universities.  Imua Services is hosting a contest giving away over $20,000 worth of training to celebrate.

 

The “We Can as Women” contest is open for entry November 1 – 30 and calls for women to share their ideas on how they can make the world a better place through medtech, biotech, and medical device innovation.  Entries require a name, email, and to finish the statement We can as women_____ such as: We can as women, stop the spread of malaria in third world countries. Selected winners will be announced on Monday, December 4th and will receive training on how to go from idea to reality starting in December.  Imua Services is requesting for people to spread the word about this contest to encourage women’s entrepreneurship, and is calling women all over the world to enter. Enter at http://imua-services.com/wecan

Latest Press Release: Imua Services Hosting Contest Giving Away Over $20,000 in Training for Medtech Startups in Honor of Women’s Entrepreneurship Day

Are you as excited as Abby the Halloween Hula Husky is to celebrate Women’s Entrepreneurship Day?  Here are the details:

Imua Services Hosting Contest Giving Away Over $20,000 in Training for Medtech Startups in Honor of Women’s Entrepreneurship Day

WASHINGTONOct. 31, 2017— Even though it’s become increasingly easier to start companies, the competition for venture funding remains fierce, and startups with co-founder females receive a mere 10% of venture capital according to the CrunchBase Women in Venture Report. Imua Services, on a mission to equip, lead, and inspire 1 million entrepreneurs and startups to solve medical challenges through new innovation by the year 2020, wants to change that.

National Women’s Entrepreneurship Day, November 19 th, is a movement in partnership with the United Nations and is celebrated in 144 countries and 22 universities. In celebration, Imua Services is promoting women in medtech entrepreneurship by hosting a contest giving away over $20,000 worth of training. Founder Meghan M. Alonso says “I work mostly with men starting companies and want to encourage more women in the medtech space to be entrepreneurial. I’m working to spearhead that through opening their eyes and changing attitudes that yes, it can be done and it can be done by YOU.” Her observations are consistent with findings of several studies that more men are leading the charge in tech startups. She thought it was a perfect opportunity to pair her efforts with that of Women’s Entrepreneurship Day and the UN.

“Even with the growing number of women venture capitalists and angel syndicates like BELLE Capital USA and Golden Seeds, there’s a shortage of women investors so the majority of the time, female founders are pitching to men. This change can start with more women getting in the game as founders,” says Alonso. The “We Can as Women” contest is open for entry November 1 – 30 and calls for women to share their ideas on how they can make the world a better place through medtech, biotech, and medical device innovation.  Entries require a name, email, and applicants to finish the statement We can as women,_____ such as: We can as women, stop the spread of malaria in third world countries.  All of these statements (minus name and email) will be made public on the Imua Services website to show the world what women want to do to change the world.  Selected winners will be announced on Monday, December 4 th and will receive training on how to go from idea to reality starting in December. Imua Services is requesting for people to spread the word about this contest to encourage women’s entrepreneurship, and is calling women all over the world to enter and use the hashtags #choosewomen and #wecan.

More about the “We Can as Women” contest and Imua Services at imua-services.com/wecan.

Latest Press Release: As Medical Device Market is Forecast at $450 Billion, Imua Services Equips the Next Generation of Startups with New Online Training

Check out our latest press release and re-launch of Invention Idea to Profitable Profit Program!

WASHINGTON, Oct. 19, 2017 /PRNewswire/ — According to The International Trade Association, the global medical device, technology and equipment market is growing from $360 B to $450 B in 2018. While there’s tremendous opportunity for startups and entrepreneurs in this industry, they often fail before they get to market so there’s a great need for training.

Imua Services is meeting that need with its hallmark program that has just re-launched, Invention Idea to Profitable Product, which gets startups from idea to fundable business and the perfect pitch in 100 days in addition to introductions to investors and development partners. The focus is on building a lean startup around an idea for a medtech, biotech, or medical device product as well as how to go about raising money once the idea has been validated. The program went through beta testing, a soft launch earlier this year, and has been improved based on user feedback and input from colleagues. New features include a longer program with more content, streamlined delivery process, and lower price point.

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Save Sprout… the piglet with a broken leg!

Sprout found himself in a bad situation when his momma pig fell on him.  This is a huge problem in the farming industry.  According to Matthew Rooda, CEO of startup SwineTech says that 116 million piglets died last year because of this and his company is on a mission to make sure that number drastically decreases.  Their product Swineguard detects piglet squealing then delivers a small shock (similar to a dog collar) to the momma pig so she moves out of the way and doesn’t crush the piglets.

As for Sprout, he’s in good hands with his community of humans taking care of him at Crossfit North Reston, where his owner Melissa works out.  The crossfit community has really stepped up to rally around saving little Sprout who was almost put down from his injury.  Now, his road to recovery includes specific exercises to strengthen his muscles but could use your help.  Since you all come from a background in medical technology, what other ideas do you have that can help little Sprout?

Startup Funding landscape for MedTech and Biotech in 2017

Startup Funding landscape for MedTech and Biotech in 2017

Hey guys Hau’oli Makahiki Hou if you don’t know what that means its Happy New Year in Hawaiian and if you don’t know what IMUA means that’s a Hawaiian word that means to advance forward with passion despite rough waves so I help guide you get through rough waves of medical device Medtech and Biotech product development. You’re right where you need to be IMUA on TV is a resource for moving new medical invention to market.
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The Next Great Medical Invention Could be Yours

The Next Great Medical Invention Could Be Yours

Aloha, ad welcome back to Imua on TV where you find tips, guidance and stories to help you move your medical invention to market. So today, I wanna motivate you a little bit. I know several of you have great ideas that can really change the face of health care, that could really bring the medical industry up to speed on technology and they could really save lots of lives worldwide. I know you’re probably thinking, ‘Ugh I have a job and that would take time and energy and cost a lot of money to develop my idea toge tit on product nd on the market’.
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Porter’s 5 Forces in Medical Devices

Porter’s 5 Forces in Medical Devices

Aloha and welcome to another Imua on TV episode. If this is your first time watching, this is a great resource for you if you’re developing a medical product or if you just have an idea for one and you haven’t started. You can also check out our website, it’s imua-services.com, that’s I-M-U-A services.com. There we have more resources for you, we have a podcast, you can find all the episodes of Imua on TV and I will see you over there. So let’s dive in to our video today. So you may remember from your upper level business classes or your MBA, those Porter’s five forces. So if you haven’t had that then I’ll just tell you what that is and if you had just think of it as a reminder. This is a framework designed by Michael Porter and he is a Harvard Business School Professor. His methods are use in practically ever under graduate and MBA program. So why are they important? Will they utilize all of the different forces around your product that can pull it in different ways? Today we’re gonna be using an example of medical device and looking how this apply. So ideally what I want you to do is look at these on how they apply to your idea, your product, and development or if you already have a product on the market, this is really good. Just dive into and look at occasionally. So for our example today, we’re gonna use a shoulder implant to show you how this applies in medical devices.
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Inventor and Startup Intellectual Property Tips for Medical Products

 

Startup Intellectual Property for Medical Products

Aloha and welcome back to IMUA On TV. I’m Meghan Alonso and this is a great resource for you if you are a medical device inventor or startup company and you’re going through that product development process. You’re seeking funding, you’re looking at what it takes to get a product manufactured from the prototype that you built in your garage or your lab. If you like what we’re talking about today then you can check out more resources at imua-services.com. That’s I-M-U-A dash services dot com.

So today we’re gonna talk about five common mistakes that medical device entrepreneurs and startup companies make with their intellectual property when they’re developing products.
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5 Tips: How to Scale Up for Medical Device Manufacturing

 

How To Get Your Product Ready For Manufacturing

E Komo Mai and Aloha. Welcome to another episode of Imua on TV, the place to be to take your medical invention to market. So I’m glad you’re here with me today. I had Bill write in with a question. So Bill’s looking for some, just guidance with how to get ready for manufacturing. So he’s got his product working, he’s ready to scale it up. So Bill, I have 4 1/2 points for you. I know 4 1/2 sounds kind of funny, but we’ll get to that.
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Medical Device Marketing: The Most Important Thing

Medical Device Marketing: The Most Important Thing

Medical device marketing for startups is more than just what you learn in school.  Meghan Alonso shares her #1 tip that she consider’s the most important thing for any company and gives an example of how it worked!

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Full Transcript:
E Komo Mail and Aloha. I’m Megan Alonso of Imua Services and welcome to Imau on TV. If this is your first time watching Imua Services offers medical device start up companies, entrepreneurs and inventors tips and tricks to get their product to market. Today I just want to remind you of something we’ve covered on the podcast, we’ve covered on the blog and I saw an example of it today so I just wanted to jump on here real quick. I’m not even in the studio, I’m in my hotel in Washington, D.C.
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