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Saturday October 25, 2014

Women Founders in NY Startup Community on the Rise

More women are founding start-ups, rising 50 percent nationally from 1997 to 2010, and 58 percent in NY state during the same time period, according to a recent Crain’s New York Business article.  While more women are now owning start-ups, the venture capital industry continues to be male-dominated, with a national average of just 8 percent of VC-backed launches including a women last year.  Women-run start-ups cover a wide range of businesses, but tend to be focused on the technology, bioscience, fashion and media industries, said Peggy Wallace, managing director of female angel group, Golden Seeds.  Among the successful female-run start-ups is NY-based Hoseanna, an online subscription service for ordering hosiery.

More resources available to entrepreneurs, specifically women, has contributed to the increase.  City-sponsored incubators, like one launched by the Council of Fashion Designers of America, are providing more assistance and tools to budding entrepreneurs.  In addition, a growing community of professionals who understand the start-up community is helping foster the growth.

Crain’s New York Business

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