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WIL Meeting on Entrepreneurship in London

Posted in WIL event reports
19 November 2009 - House of Lords, London

First time in London, the Women in Leadership network convened 50 women business developers and stakeholders from European and national public institutions at a location no less prestigious or symbolic than the House of Lords. It was a successful encounter and proof that, in just 18 months, WiL has made great strides, enabling women from over 17 countries to meet, share and broaden their careers developments. The meeting’s specific purpose was to leverage financing opportunities for women-led businesses and launch women as investors in male-dominant sectors, such as technological innovation.

Keynote Speeches

Lord Erroll, Chairman of the UK All-Party Parliamentary Group on Entrepreneurship, asked for entrepreneurs to step up in policy making and eliminate the barriers to the growth of SMEs. He endorsed pro-microfinance policies and providing internet access to all. WIL members voiced the additional concern that governments should trust companies’ ownership of their innovations and enlarge access to education so as to secure a talented work force.

Catarina Marcelino, Member of the Portuguese Parliament, spoke about the unchanging gap between women and men entrepreneurs. Almost 67% of European companies are SMEs, but 71% of the owners are men. To bridge this gap, she sustains labor laws promoting work/life balance and public support of female entrepreneur networks.

Recommendations to Support Female Entrepreneurship and Innovation

The think tank Women’s Enterprise Taskforce (WETF) presented The Greater Return on Women’s Enterprise (GROWE) report commissioned by the UK government, which bases its recommendations on the economic potential of such enterprises. UK women-owned businesses now produce £130bn in annual turnover, representing 15% of the 4.7 million businesses in the UK. Another 150,000 UK businesses would be created every year if women started businesses at the same rate as men. Dr Glenda Stone, CEO of Aurora and WETF Co-Chair, together with Claire O’Halloran, Emerging Business International Microsoft, called for more women to take on the role of serial entrepreneurs and to partner with business angel networks or venture capitals and for governments to ease public procuring for SMEs. WETF raised the issue of inadequate coverage of women’s success stories in the European media, but which women from networks such as WiL can counter by sharing their success stories either in the media or in schools.

Damini Kumar, Programme Director Product Design, National University of Ireland, Maynooth has been speaking on behalf of innovators throughout this year. As the European Ambassador of Creativity & Innovation, she invited attendees to share their expertise through pan-European research networks, to encourage risk taking while supporting a creative liberal education where teachers and students break down barriers between disciplines. The design contest she organized across Ireland, Imaginate 2009, was a great example of how creative thinking can shape entrepreneurial attitudes in young individuals.

Women-Led Businesses

Journalist Jennifer Schenker, CEO Informilo, moderated a panel of 5 successful business women. Béatrice de Clermont Tonnerre, Head of Business Development Lagardère, and Viviane Ribeiro, CEO Lefebvre Software, expressed the viewpoint of women who grow long-term businesses and take risks in launching new products and services.

Dunya Bouhacene, CEO Women Equity Partners, together with Jenny Tooth, Head of British Business Angels Association & GLE Capital and Marie Reinius, Managing Director, Swedish Private Equity & Venture Capital Association landscaped the opportunities that lay for women to either finance their businesses or become investors. They advised women entrepreneurs to sell the scalability of their business along with their self-confidence and to sit on the boards of investment funds and networks so as to coach other women to become serial entrepreneurs.

The panel was followed up by a video interview of Sharon Bowles MEP, Chairwoman Economic and Monetary Affairs Committee, who uses her technical background to spur pro-innovation incentives for SMEs, and by a live meeting with WiL’s partner in Washington D.C., GlobalWIN - The Global Women's Innovation Network. Dr Kate Kirby, Head of The American Physical Society, called for using the 50th anniversary of laser to encourage women to choose science careers. Melika Carroll, Director Global Government Affairs Micron Technology, and Helen Milby, CEO HM&CO, illustrated how a history of business pioneering in the US and a flexible regulatory environment for start-ups has encouraged women to invest in innovation and start their own business.

Tags: Women Entrepreneurship, Business networking organization, Women in Technology, Lord Erroll

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