• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Footnote

Footnote.co

Showcasing research with the power to change our world

  • Facebook
  • Twitter
Footnote
  • About
  • Contributors
  • Partner With Us
  • Press
  • Projects
  • Academia
  • Business
  • Education
  • Government
  • Health
  • International
  • Science
  • Society
  • Technology
Pitch Like A Girl

The Real Reason Women Entrepreneurs Have a Harder Time Raising Money

Lakshmi Balachandra, Babson CollegeOctober 31, 2018November 28, 2018
women at a business meeting
Sections
  • Business
  • Society
  • Technology
Topics
  • Angel Investors
  • Gender
  • Startup Funding
  • Startups
  • Stereotypes
  • Women Founders
  • Women in Business

“I would not be caught dead in a pink suit now,” says Susan Perry, the founder of SpeechMED, a startup that translates complex medical information into language patients can understand.

Clothing is just one of the issues Perry has reconsidered when it comes to how she pitches her business. As a middle-aged woman, she has faced bias because she doesn’t fit the stereotype of what an entrepreneur looks like. Raised to be soft-spoken, Perry now makes a conscious effort to lower her voice, plant her feet firmly, and speak directly. When she gets one of the tough, defensive, “prevention-oriented” questions that women entrepreneurs tend to receive from investors, she redirects and instead offers a bold and expansive vision for her company, more in the style of how a man might answer.

Perry’s transition to a more gender-neutral, or even masculine, pitching style seems to be working. Her company completed the Women Innovating Now (WIN) Lab at Babson’s Center for Women’s Entrepreneurial Leadership, was accepted into the gener8tor accelerator program, and is currently gearing up to pitch dozens of investors. Most importantly, she now feels confident about her pitch and her ability to raise money.

We know that women entrepreneurs face significant challenges securing funding from investors. Our research found that only 15% of companies receiving venture capital investment have a woman on their executive team and less than 3% have a woman CEO. Perry’s experiences — and my own years of research on gender and funding — help explain why…

Read the full article online at Harvard Business Review.

This article was produced by Footnote in partnership with the Center for Women’s Entrepreneurial Leadership at Babson College.

Related


  1. Why Entrepreneurs Shouldn’t Chase Media Buzz
  2. Babson mentorship
    What Do Angel Investors Want? A Protégé
  3. WIN Coaching
    Why Women Entrepreneurs Underestimate Themselves – And What We Can Do About It

sidebar

Contributed by

Lakshmi Balachandra

Lakshmi Balachandra

Assistant Professor of Entrepreneurship &
International Diana Institute Research Fellow, Center for Women’s Entrepreneurial Leadership
Babson College

Lakshmi Balachandra is an Assistant Professor of Entrepreneurship at Babson College and an International Diana Institute Research Fellow at Babson’s Center for Women’s Entrepreneurial Leadership. Her research examines the impact of trust, gender, and other entrepreneurial characteristics on acquiring early-stage funding. She was a co-author of the Diana Report (2014), a comprehensive analysis of venture capital investments in women entrepreneurs. Balachandra has also been an entrepreneur herself; worked at the largest women-owned, women-focused venture capital firm in the country; and founded the Women’s Venture Capital Network.

Related Projects

Babson College

Babson College

Leading insights on business and entrepreneurship

Footer

About Footnote

Footnote is an online media company that increases the impact of academic knowledge by making it accessible and engaging for new audiences.

Learn more about Footnote and our contributors.

Follow us on Facebook and Twitter.

Partner with us to increase the impact of your research.

Sections

  • Academia
  • Business
  • Education
  • Government
  • Health
  • International
  • Science
  • Society
  • Technology

Projects

  • Babson College
  • The Collaborative
  • Genomic Medicine
  • Making Research Reliable
  • Robotics
  • Works Cited Podcast

© 2025 Footnote