Female founder funding campaign sheds light on progress but bias remains…

New research was published last week from Tech Ireland that tracked €100m in funding for women entrepreneurs here in Ireland in 2018. Whilst the funding was just shy of the target by €3m, the good news is that there was an increase in investment from 2017.

The report is an interesting one and Tech Ireland are playing an important role in tracking and publishing this data, because when you see in black and white the statistics it’s so clear there is a big problem!

Here are the statistics to prove it….

€97.7m funding raised by women is only 10.5% of the total of €930m raised in 2018.

The number of female tech founders in Ireland in 2018 was 366 which is just 17% of the 2,173 founders counted in total.

The average deal size in Ireland in 2018 was €4.3m. Female founders raised on average €2.1m while male founders raised on average €4.9m.

So the message is clear, we all have more to do!

Norgil Associates is a consultancy specialising in enabling companies to achieve hyper growth. We can help you understand how to successfully scale and fund your business. The world of funding is bigger and more accessible than you might think. Find out more

Rewarding the risk takers - a voice in support of Irish Entrepreneurs

Award winning journalist John Kennedy wrote an article last week, discussing his admiration for Entrepreneurs in Ireland. His key point was around a supportive tax system to reward the risks they take. It was so refreshing to read and I echo his sentiments entirely.

He says “I am jealous of the courage it takes to start something and follow a conviction or a hunch. This means taking a less-travelled road, leaving job security and the comfort zone behind, hiring people and convincing them to believe in you, taking on the stress of making payroll, and winning customers and maybe investors.

I have worked in start-ups and infantile businesses often in my career and the thrill of backing yourself or an entrepreneur you believe in is risky and it’s hard work daily. Now I see this with clients, who are on that same journey.

The pitching and selling is not just to market, you are on a mission to re-educate, convince and sell everyone you come into contact with of the vision. But when you back yourselves and it pays off and people start to stand up and take notice, there is no greater thrill!

As business Advisors, it is our passion to help early stage companies, maximise revenue growth, align their go-to market strategy and enable hyper growth. Contact us to start a conversation on how we can help you today.