A Necessary Network Effect

By YeeLing Chang

Women are leading next-generation consumer brands, and for good reason

Female consumer brands are rising in popularity, so it’s only right for the number of female founders to follow suit. This much-welcomed trend will only pick up pace over the next few years, as the market size is estimated to be worth US$50 billion by 2025. In 2019, there was just over $100 million in venture capital funding for startups founded by women.  

With this growth comes the need to provide female entrepreneurs with networks for support and knowledge-sharing. Some examples include clubs like The WW Club and Allbright, and co-working spaces for women, such as The Wing and Blooming Founders. But for these initiatives to have a real impact, female entrepreneurs must have access to funding. 

Plum Alley is an organization that supports early-stage companies founded by women, and is pioneering a membership-driven investing model that encourages women to enter the investment world. It’s no surprise that more women are entering the male-dominated industry, as the data speaks for itself: companies with more women in leadership positions perform better financially. For instance, Pax Ellevate Global Women’s Leadership Fund saw returns at 7.41%, outperforming the MSCI World Index’s return of 6.60% [for the one-year, three-year, and five-year periods ending June 30, 2019].

Female entrepreneurs are often motivated to create a product or service when they have personally experienced a pain-point they want to solve or a need that has not been met. These market gaps are usually a result of the fact that many consumer products or services are created with the male consumer in mind.

In the lifestyle space, a great example is Away. Founded in 2015 by Jen Rubio and Steph Korey, the idea for the company came about after Rubio’s suitcase broke, leaving a trail of her clothes at the airport. Shopping for a new suitcase led her to realize that luggage was being marketed in an outdated way. Looking to reinvent the space, the founders set out to build a direct-to-consumer company that offers high-quality and well-designed luggage. Having raised over US$156 million as of 2019, Away is one of the highest-funded female-backed startups today.

We are also seeing many startups addressing health and wellness for women. Recognizing that men and women are biologically different, the founders of Seed developed a female synbiotic (a combination of prebiotics and probiotics). The female version has 24 strains of good bacteria versus 20 strains for men, wherein the additional four strains have anti-inflammatory properties to relieve period cramps, antioxidants to boost skin health, and folate strains to support fertility. In the wellness space, Care/of and Ritual are examples of supplement startups creating vitamins for women. We are seeing growing numbers of birth control, fertility, menopausal, and emotional health startups as well, such as FloHealth and Genneve–to name just two. 

The overarching similarities among all these up-and-coming female-led startups are the founders’ desire for flexibility in time management, combining business with a social mission, and finding work that is enjoyable and meaningful. Lifelong-learning aside, female founders are very much driven by the feeling that one’s opportunities for personal development are limitless. 

As a result, during networking events for women, the conversations are rarely about understanding how to start a business. They are more about meeting and talking to other inspirational women who have been successful in their field and learning from their experiences. Finding a network of support is vital, as it gives one the confidence to reach higher.

About the Author

YeeLing is Content Director at CAREhER, the only bilingual platform that takes a comprehensive approach to personal and professional development for women. CAREhER offers personal branding and coaching, and resources for learning, such as interviews with successful women. She is also an entrepreneur with over 12 years of experience in the F&B industry.

careher.net

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Mercedes-Benz Launches the New Luxurious CLE Cabriolet

Mercedes-Benz has launched the CLE Cabriolet, building on its heritage of creating four-seater convertible vehicles. This new addition is characterized by its expressive design, advanced technology, and high-quality features, ensuring an enhanced driving experience. The model, which evolves from the CLE Coupé, stands out with its traditional fabric acoustic soft top and distinct high-quality details, making it uniquely positioned in the market. Designed to offer dynamic performance alongside exceptional daily comfort, the CLE Cabriolet supports year-round open-air enjoyment.

4 Companies Reusing Coffee Husk for Eco-Friendly Innovations

A daily cup of coffee is more than just a morning ritual—it’s a powerhouse of energy and health benefits. Beyond keeping you alert, coffee supports brain health, maintains liver function and may even lower the risk of depression. However, the journey of coffee from plantation to mug involves an energy-intensive process that produces significant waste, particularly coffee husks.

Fort Worth Hosts New LG Electronics Facility for EV Charger Assembly

LG Electronics has initiated its first U.S. production facility for electric vehicle (EV) charging stations in Fort Worth, Texas, aiming to bolster the national EV charging infrastructure and generate employment opportunities. The facility’s inauguration was marked by an event attended by Fort Worth Mayor Mattie Parker and LG executives Alec Jang, H.K. Suh and Nicolas Min. This development is part of LG’s strategy to expand its presence in the EV charger market by providing high-quality charging solutions and services.

KPMG Introduces “The Road to Leadership” along with Harvard Business School

KPMG in India and Harvard Business School Publishing Corporation (HBSPC) have announced a collaboration to launch “The Road to Leadership”, a program designed to empower mid-level managers with the skills and insights needed to ascend to leadership roles. This collaboration brings together HBSPC’s rich legacy in leadership education and KPMG’s deep industry experience, offering participants a unique blend of theoretical knowledge and practical insights tailored for the Indian context.

What Are the Negative Impacts of AI on the Film Industry?

The arrival of artificial intelligence (AI) in filmmaking is changing the game, introducing endless possibilities into an industry known for its creativity. Hollywood, known for its glitz and glamour, is already on board, using AI to pick out potential hits through script analysis and predictive analytics. This allows filmmakers to make data-informed decisions on which scripts might win the audience’s hearts.