Men have said to my face (pre-Covid) it’s a good time to be a woman in the startup world… implying that women are getting handed freebies and one-ups just because of our gender. I see some men commenting online that gender has nothing to do with it and that if a business is good, it will get funded no matter who the founder is. Ideally, yes. Realistically, the numbers tell a differ- ent story. Sure, I get it. I used to have the same mindset. Make my business so good they can’t ignore me, right? Easier said than done. It’s been well docu- mented that when pitching for capital, investors tend to ask men questions about their potential gains while women about the potential for losses. I’ve seen it myself first-hand, as my co-founder Kris is a white male and will often get the initial attention and business questions from inves- tors while I stand there (again, pre-Covid) being treated like I’m invisible. Fortunately, Kris is also my life partner and my biggest ally. He is actually the one who really helped me find my voice on this issue as he began noticing so many discrepancies in the startup world first-hand. From how people treated me to my face (I’ve been asked straight up if I’m his secretary) to the investment questions directed at him compared to the questions I get asked, Kris took notice and started standing up for me in these situations, ultimately giving me the confi - dence to stand up for myself. So, if you are a person reading this, no matter your gender, and your first thought is “Just make a good business and you’ll get funded” it’s time to listen to what the women experiencing it first - hand are saying. It seems simple enough to build a great business and raise capital but those who are living it are shouting from the rooftops that their chances are not actually equal and it’s time for people to start doing more than just listening.
It’s time to start enacting change and taking women seriously. It’s time for investors (both male and female) to be more aware of the ques- tions they’re asking of each gender and if they’re looking to invest in the best companies out there, they need to let go of their unconscious gender biases and give women the same chance that men receive. I applaud the investors who have already started implementing change and I applaud those who are allies and who, like Kris, point out things when they aren’t fair even if it doesn’t affect them directly. The more voices who speak to this issue, the more people will begin to listen and isn’t that how real change begins? As an extremely competitive and driven woman, I have always believed I can do anything I set my mind to and looking for special treatment has never been part of the way I operate. It’s import- ant to remember that we’re not looking for special treatment but just a fair shot. And despite being a female founder currently raising investment when the numbers are so bleak (again, 2.3%), I am hopeful and determined that the shift is happening, that people are noticing and that women will break down these invisible
“It’s important to remember that we’re not looking for special treatment but just a fair shot.”
barriers and maybe one day, we can move that dial and get that number closer to 50%. It’s worth a (fair) shot isn’t it? By the way, if you like my ‘Girls just wanna have FUNding’ shirt and would like to help share the ‘Fair Shot’ message they are avail- able at www.acquiredshop.com. ~ Shannon Ferguson is the Co-Founder & CEO of FanSaves, a tech startup changing the spon- sorship and fan engagement industry. If you would like to discuss her journey as a female founder or her seed round, you can reach out to her directly at shannon@fansaves.com.
“I applaud the investors who have already started imple- menting change”
101 VOL 23 ISSUE 1 • SPOTLIGHT ON BUSINESS MAGAZINE
100 SPOTLIGHT ON BUSINESS MAGAZINE • VOL 23 ISSUE 1
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