One of the most exciting global developments is the emergence of a new age of
high-growth women entrepreneurs. This trend has the potential to transform
economies around the world, creating literally millions of jobs.
Though this statement may sound grandiose, according to Sharon Vosmek, it is not. Vosmek is CEO of Astia, “the premier venture accelerator for women-led high growth companies”. She passionately believes that women entrepreneurs will create the next high-growth firms. . . and their growth can positively transform global economies.
The data cited by Vosmek are compelling. The data show that if women CEOs had the same access to capital as male CEOs, the economy would add six million jobs in five years, two million in the first year alone. These data support her campaign to take women-led, high-growth entrepreneurship to next level---globally.
Women make up over half the planet and over 50 percent of all new MBA graduates and more than half (non-STEM) postgraduates as well. Women represent almost 50 percent of all PhDs and 48 percent of all entrepreneurs globally. Yet they represent fewer than 20 percent of high-growth CEOs and attract only 10 percent of venture capital dollars.
Vosmek’s mission is to promote women’s “full participation as entrepreneurs and leaders in high-growth businesses, fueling innovation and driving economic growth”. Astia is focused on innovative firms, including high tech, clean tech, life sciences, and consumer services.
The organization offers an inclusive network, where women and men work together to give women entrepreneurs access to a global community of experts, supporting them with “equity and influence.” Since enterprises fewer than five years old created most of the net new jobs in the last 30 years, the opportunity is tremendous. Moreover, high-growth start-ups have been responsible for most of the world’s job growth.
Our forecast is that of the over 60 percent of women college graduates and those seeking postgraduate degrees, a number will be among the ranks of Vosmek’s high-growth entrepreneurs. From Columbia to Ghana to Singapore, we have seen women entrepreneurs establishing their footholds. Once they have equal access to funding, expect significant (and welcome) job creation.