How in 2017 does 90% of venture capital go to fund businesses founded by men? According to TechCrunch, in the period between 2010-2015, 10 percent of venture dollars globally, a total of $31.5 billion, funded startups that reported at least one female founder. This represented 3,265 funding rounds, or 12 percent of all venture funding rounds. With statistics like that, raising money for a female entrepreneur is a daunting task.
Project Entrepreneur is committed to breaking down the barriers for female founders to access capital. Project Entrepreneur is a program of UBS Elevating Entrepreneurs, the firm’s flagship philanthropic entrepreneurship initiative, and a portfolio of partnerships and programs committed to bringing the right resources to the right entrepreneurs to help spur economic growth. Last week they announced their class of 2017, and the 10 finalists for the Project Entrepreneur pitch competition. LOLI Beauty will be the only beauty brand to present at the live pitch competition on Saturday, April 8.
Tina Hedges is CEO & Founder of LOLI Beauty, the only beauty brand to be included in the pitch competition. Hedges is a seasoned marketer working for companies like Lauder and L’Oréal, but LOLI isn’t Hedges’ first start-up. During the past decade, she’s been involved in several entrepreneurial ventures—from an award-winning, record-breaking, sulfate-free, vegan hair brand to a functional beverage that made Entrepreneur Magazine’s Top 100 Most Brilliant Companies list. Even with a pedigree like this, fundraising for LOLI was not a walk in the park, but she’s come out the other side with the seed funding necessary to push the business forward.
Tina Hedges’ three tips for fundraising as a female entrepreneur:
LOLI Beauty is also in the running for a CEW Indie Brand Beauty Award this year—so vote!
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