About Astia

Friday, May 18, 2018

SPOTLIGHT on Astia Entrepreneur

Opportunity is around every corner—how a lot of hard work and a little luck has built Zenflow—one step at a time.

Shreya Mehta is the CTO and Co-Founder of Zenflow, a medical device startup that’s creating ground-breaking advancements in the treatment of benign prostatic hyperplasia (BPH - enlarged prostate).

Shreya is a female entrepreneur helping to build a company that creates a product to better men’s health. How she ended up in this field is an interesting journey.

Shreya is a biomedical engineer by training but fell into the field quite by accident. She always loved engineering, as she enjoyed taking things apart and figuring out how things worked. But she also found biology interesting, so it was this combination of engineering and biology that she would eventually
pursue “I was one of those kids that would take the toaster apart and get in trouble with my mom,” she says. “With biology it was a little more elusive and I found that attractive too.” So, becoming a biomedical engineer and learning how to engineer a device that would address a biological and health problem seemed like a natural fit.

After college, Shreya worked at St. Jude Medical, where her interest in biomechanics heightened. She later accepted a job at the FDA as a lead reviewer, where she was responsible for evaluating medical devices for approval or denial. This turned into a fortuitous experience as it taught her what new
companies had to go through in order to have devices approved by the FDA, an experience that would later be helpful to her as she embarked on getting her own company’s devices approved by the FDA.

After a few years at the FDA, Shreya heard about the Biodesign Innovation Fellowship Program at Stanford and decided to apply. Every year the Biodesign Fellowship focuses on a different clinical area of study, and the year she attended the focus was on Urology and Nephrology. This was a whole new
clinical area for Shreya as up until then her interest was in the cardiovascular area, so it meant that she had a lot of learning to do.

It was at Stanford that Shreya met her future business partner (and co-founder of Zenflow) Nick Damiano. Nick and Shreya were teammates in the fellowship program, and this is where they both learned about benign prostatic hyperplasia (BPH). “We found at Stanford that there was an opportunity to help patients that were suffering from these symptoms but didn’t want to undergo
invasive surgery” she said. “We developed a solution that was minimally invasive for patients suffering from this condition.”

With Shreya as the technical expert and with Nick’s previous experience launching a company, the next step, naturally, was to form a company and take their device to market. In July, 2014, Nick and Shreya bootstrapped their company with Nick’s garage being Zenflow’s prestigious headquarters, until they
finally moved to an office in South San Francisco in 2015

Funding had been an issue for the new company, but as luck would have it Shreya met someone who introduced her to an investor at Astia. After speaking with the investor, Shreya applied to Astia and went through the steps of Astia’s Expert Sift™ program. Shreya did her first presentation to investors via webcast, and then made it to the next step, an in-person presentation to the Astia investors.

The investors were supportive and excited about Zenflow’s product and the company’s future. Shreya secured funding for their seed round through Astia and they were on their way. Since that first round of funding, Shreya and Nick have been back to present to Astia Angels when they were looking for
additional funding, and Astia has always come through for them. She feels as though she’s built a community around Astia, and has enjoyed meeting and learning from other Astia entrepreneurs.

What’s ahead for Zenflow?
The company is up to 10 people now, and is prepping for a 200-person study in the US. They’re also launching a multi-national European 40-50 patient trial. Exciting times lie ahead. The path that has led to Shreya’s current success has been fueled by a lot of learning, perseverance, and a little luck. From her early interest in biomedical engineering to learning how to navigate the path of
FDA approvals while working there, to studying urology and nephrology at the Stanford fellowship, using her technical skills to develop a groundbreaking device to help men dealing with BPH, and jumpstarting her company’s funding through Astia, each step has taken Shreya further along this road to success.

As a woman who once road her bike from San Francisco to LA and climbed Mount Kilimanjaro, the launching of Zenflow has also been an exciting journey professionally for her. A journey that she has taken one step at a time. As Shreya puts it “You have to have the endurance to take it a step at a time and understand that if you put the work in now, then you’ll reach your goal eventually.”

~Blog post written by BrandLightning

Monday, March 12, 2018

Seven Benefits of Being an Astia Advisor

Mary McDougall, an Astia Advisor, with an entrepreneur from South Africa

Only 2% of VC 2017 investment went to woman-founded deals
(Source:  Pitchbook)


That may be a shocking statistic to some, and is one of the reason I joined Astia. It certainly is not for lack of amazing women entrepreneurs with big ideas or women-led organizations who are poised to change the world. It is a systemic issue that can only be fixed when we work together...men, women, fighting for equality.

And when it comes to equality, there is a sea change taking place in all areas of business. You might be asking yourself where and how best to get involved to make the greatest impact. Here are a few ideas:

If you would like to help women gain better access to capital, join Astia Angels ($$) and invest now!
If you have time to offer, become an Astia Advisor. I've been an Astia Advisor for more than eight years, currently participating in the Operations and Industry Screen steps of the Expert Sift process, a methodology developed by Astia to curate best in class companies led by women.

As an Astia Advisor, each week, I might review two live company presentations to assess funding readiness as well as read one to three executive summaries to determine business growth potential. If I like the business or the entrepreneur, I might offer to directly engage with them.

Here are the seven reasons why Astia is so rewarding:

PUBLIC BENEFIT
  1. Identify high potential deals, led by women, that deserve funding and pass them onto eager investment sources.
  2. Help each entrepreneur further hone their plans and business models by providing constructive feedback at each step of the three-level review process.
  3. Directly assist entrepreneurs with their growth challenges or investment initiative with 1:1 consulting.

PROFESSIONAL BENEFIT
  1. Learn new ways of monetizing IP such as creative licensing models, new revenue sources, and not-so-obvious future revenue opportunities e.g. data-as-a-service.
  2. See how demand generation tools and techniques are employed to leverage more messaging channels, mine social media data, predictively analyze customer behavior, etc. to better segment, reach, and convert target audiences.
  3. Introduce new services and products to either your own company or another company in your professional network for a real Win:Win.

PERSONAL BENEFIT
  1. Join a network of very accomplished individuals and organizations who are interesting, engaged, and kind…… each wanting to make a very real social impact together.

by Mary McDougall

A corporate innovator and technical business leader Mary has had four successful exits and participated in ten acquisitions. She was most recently CEO of Survox, a phone survey automation platform, sold to Enghouse (TSX: ENGH). Before Survox, Mary led change and growth initiatives in both public companies and early stage ventures, each focused on applying software technology to business process improvement. A long-time advisor, Mary is now part of the Astia Expert Sift process and stays engaged with technology by advising local start-ups through HBS Start-up Partners. Mary was one of the first women to earn an Engineering degree from Dartmouth College before getting her MBA from Harvard Business School.

Wednesday, January 17, 2018

Astia CEO Reflects on 2017


More Than Numbers
Astia CEO Reflects on 2017
to Chart Beyond 2018

2017 really put a spotlight on women's rights... from the historical manifesto authored by a Google employee decrying diversity in the workplace to the unforgettable #MeToo movement and underlying accounts of discrimination, harassment and abuse.

The question for 2018: what will we do next? Will this create a backlash that sends us spiraling into the abyss or shine a light on a new path forward? I have more conviction than ever before of Astia's mission: ensuring that women get the same opportunities as men, starting and running successful businesses. The best part: we have an ecosystem of investors, partners/sponsors, advisors, and volunteers who have the same conviction. We are also celebrating many successes across every part of Astia. Here are some highlights from our year:

Our Entrepreneurs
In 2017, we welcomed 17 startups who raised $4.2M from Astia Angels, representing $57M in syndication! To date, this brings our portfolio to 51 companies, who have received more than $17.5M of capital from Astia Angels, and $185M in funding total! 100% of our startups have a female executive or were founded by a female. We've teamed up with people who came to us because of our relationship-driven approach. These leaders understand that it's not just about having a good pitch—it's about creating opportunities to connect and build something meaningful together.

Our Portfolio—the Thesis at Work!
We don't take a cookie-cutter approach to the companies we fund. If you look at the three companies who had successful exits with Astia this year, you'll see geographical diversity—one from Pittsburg, one from Silicon Valley, and one from London. You will note they were from very different sectors (medical devices, cloud service, fintech) and that they ranged in stages of growth (from early-stage to pre-IPO). Read more about each of these exits here! [more specifically, Boku IPO on the AIM Exchange, Cloudamize's merger with Blackstone-owned Cloudreach, and Ciel Medical being acquired by Vyaire Medical]

Our Investors—Putting their Money where their Mouth is!
Our community of 55 seasoned investors is comprised of men and women, individual contributors, couples, and family offices, with expertise in a wide spectrum of sectors. These Angels understand the need for diversity in their portfolio and chose Astia to demonstrate their values in dollars and deeds. In return, Astia proved our model and delivered huge returns on their investments. We will continue to leverage these relationships to drive systemic, positive change in the investment community.

Our Community—Making a Difference!
Our community boasts over 2000 Astia Advisors who actively review on average 120 applications a quarter. The three exits we celebrated in 2017 continue to validate the Astia Expert Sift™ model and the Astia investment thesis of investing in teams that include women. In 2018, we will create more meaningful touchpoints with the community to ensure each member realizes the value of their contribution, whether giving Astia access to their network, providing expertise during the early assessment stage, or offering counsel to entrepreneurs during the growth of their business.

We would not be able to do the work we do without our sponsors, some who have stood by us for over ten years: from global brands like Dentons, Silicon Valley Bank, and Salesforce.org to best in class entities such as Moss Adams, Lowenstein, and Prolog Ventures; and of course, our founding sponsor, Three Guineas Fund. Partners like Ewing Marion Kauffman Foundation and Google for Entrepreneurs, who are themselves leaders in entrepreneurship and innovation, extend our reach and validate our mission.

Our Team—Eleven Strong and Mission-driven!
As we grow, we have not diluted or lost sight of who we are. We take a very personal, relationship-based approach to our mission. It is the lens by which we operate and how we attract those who want to change the world. This year, we added one part-time staff member, four Executives in Residence, one intern, and two volunteers—senior level individuals who still want to grow professionally and play a meaningful role in empowering women around the world.

Our voices—Leading the Change We Seek!
Our thought leadership platform, Astia Think, is one of the most challenging aspects of our work because we face two reactions: that there is no problem to solve or that it's too overwhelming to solve. Our objective for 2018 is to create increased dialog around our call to action: invest today. As we head into the new year, we must learn from the watershed moments of 2017 and capitalize on our investment momentum to establish a dominant voice and position in the investment community.

I leave you with our final message. invest today. The call to action is clear and the time to engage and act is now. No more sitting on the sideline. Still today, less than 5% of venture capital is invested in women-led companies: this must change. These words are not just intended for Astia Angels, who demonstrate their commitment by investing in Astia-screened companies. We invite all VCs to review the Astia pipeline that includes companies from all sectors, stages, and geographies. To facilitate this access, we hold monthly Venture Showcases for the venture community. If you are a VC, we welcome you to join us! You can register for the Venture Showcases by contacting our Managing Director here. And if you are an angel investor looking for a group to invest with, we welcome a conversation.

As I have said time and again since coming to Astia in 2004...Astia is a community. Astia is You! Thank you for another year of support, engagement, and enthusiasm for the women we serve and the companies they lead.



Thursday, December 18, 2014

Look at what you did in 2014!

Thank you to each of you for making 2014 such an extraordinary year for Astia. You are integral to the work of Astia, so we wanted to share with you the many ways you participated, supported, engaged and committed to Astia this year.

You can download an end of year report here: 2014 end of year report - Astia is You!




Monday, November 3, 2014

Astia participates in high-level discussion at the United Nations

October 31, 2014 | New York, NY


Astia CEO Sharon Vosmek, spoke at United Nations Headquarters in New York at a program sponsored by the United Nations Alliance of Civilizations (UNAOC) and organised by the Global Citizen Forum (GCF) and the Universal Peace Federation (UPF).

Titled: “Globalisation and Sustainable Development: the Role of Government, NGOs and the Private Sector”, Sharon spoke about the Astia mission and community on the panel: "Business, Technology and Social Sector: Harbingers of a New Civilization"

The session was broadcast live and attended by UN Ambassadors, international diplomats, dignitaries, Executive Heads of UN bodies, international NGOs and Private Sector representatives.

Sharon's comments were to highlight the importance of and the need for a global strategy - that includes both men and women - to address women's access to capital. Astia was the model she used throughout her comments. The benefits to the economy and society were also core messages.

Thursday, October 2, 2014

Investing in the Success of Women High-Growth Entrepreneurs, their Teams and their Ventures

The Astia White Paper

Co-authored by Sharon Vosmek, Astia CEO, and Teresa Nelson, PhD, Elizabeth J. McCandless Chair in Entrepreneurship, Simmons College this statement on the future of innovation has developed over fifteen years of Astia working with high-growth ventures internationally.

We see women leaders as integral participants in inclusive, high performing entrepreneurial teams — without them, success is more difficult. We believe this position should be more widely shared and understood.

In this report we explain why... and how you can join us.

DOWNLOAD THE FULL WHITE PAPER HERE>>

Thursday, March 27, 2014

Our origins | What brings us to today

In 1999, Astia was created with one mission in mind: to help female innovators succeed. We provided access to capital, business expertise and one-on-one advising opportunities, aimed at developing the entrepreneur as a whole. Fourteen years later, Astia has watched over 4,500 talented women create, float or exit their own companies, and the goal remains the same.

We are committed to the idea that female participation in high-growth industries has a positive impact upon innovation, economy and society. We also continue to believe that gender diversity is a socioeconomic necessity, without which creativity and overall economic productivity are severely compromised.


After working with female entrepreneurs for over a decade, Astia realized the best way to support these innovators involved a shift in company strategy. While business expertise and one-on-one advising was helpful, the most basic entrepreneurial need was access to capital.

Combined with tailored, startup-specific advice - such as pitch coaching - the Astia screening process evolved into a targeted funding program with a focus on the most essential items of the entrepreneurial process. This precise technique better equips Astia’s decentralized activity network, which today can be found around the globe. This change also makes the support of the 5000+ entrepreneurs, investors and industry leaders of the curated, global Astia community more meaningful for the female innovator.

Thank you for being central to this journey!

Sunday, March 2, 2014

#40Forward | Rethinking and Redesigning the Ecosystem


In the lead-up to International Women's Day we are reminded by the world’s media of the economic, political and social achievements of women past, present and future. So, as part of these celebrations, I often take this weekend of the year to reflect on Astia’s successes, those of our entrepreneurs and the high growth ecosystem at large in advancing innovation through inclusive leadership teams.
Astia’s raison d’etre is to promote, ally and assist women high growth entrepreneurs and their ventures, one by one and by changing the ecosystem. As such, this year, we’re delighted and proud to be part of Google for Entrepreneurs’ campaign #40Forward: 40 startup communities rethinking the gender gap, a challenge issued to startup communities to increase participation by women by 25% this year.

Dramatically Increasing Women's Access to Capital
Astia and Google for Entrepreneurs are partnering to increase the frequency and city coverage of the Astia Venture Lunches. We are tripling the number of opportunities for exceptional woman-led start-ups to access capital, as well as expand our reach to include new markets outside of Silicon Valley, London and New York.  
For those new to Astia Venture Lunch, it is Astia's groundbreaking effort to increase dramatically women's access to capital. Not once a year - or even quarterly - but every single month Astia showcases outstanding woman-led companies to accredited investors in London, New York and Silicon Valley. Using Astia's Expert Sift – the proprietary community-sourcing and screening process- in our search for supernovas, each presenting start-up is pre-screened by no less than 25 industry experts before being selected to present.
And what do we know that those selected start-ups will have in common? That their founders have made a very smart business decision: to be part of an inclusive leadership team.

Inclusivity is essential to innovation and job growth
“The diverse group almost always outperforms the group of the best by a substantial margin,” according to The Difference, Scott E. Page, University of Michigan. “The key to innovation, in economic terms, resides inside the heads of people, the more diverse the better. That link may not be immediately apparent, yet any understanding of innovation's role in economic growth must focus on diversity as well as ability.”  As such, Astia works with inclusive leadership teams and actively encourages all members of the team to participate within our community, irrespective of their gender.

The importance of men’s participation in the global conversation around women’s high growth entrepreneurship
We know that high-growth entrepreneurs are similar in almost every respect. Regardless if male or female, entrepreneurs have largely the same education, economic background, needs, and challenges. This gives credence to the need for a unique offering for entrepreneurs focused on including men and women.

Women, however, place greater importance on the moral support, expertise, and financial backing of business partners, while men need far less encouragement from others. This desire of women, for community support and engagement, is what Astia offers our entrepreneurs.

Women uniquely need:
1.  Access to Networks - Around the globe, men and women are still by-and-large in separate business networks. Men are the holders of capital for entrepreneurs. Investment relies heavily on trusted business relationships. Astia is a model for creating a global network of men and women doing business together. 

2.  Access to Opportunity - Research shows that women self-assess differently than men and as a result often have lower aspirations commensurate with the lower assessment of their abilities. Astia exposes women to the opportunity of high-growth entrepreneurship and to the tools and networks needed to succeed within it. This personal growth is best achieved through exposure to the Astia community of men and women who have been there themselves and understand the challenges entrepreneurs face.

Through all Astia’s work to promote, ally and assist women high growth entrepreneurs and their ventures, bringing together men and women who are dedicated to the success of women-led, high-growth ventures is front and center.

And I ask you this. As you assimilate the many truly inspiring women entrepreneurs you will read and hear about this week as we all celebrate International Women’s Day, take one decision that will ensure that men and women are coming together to change the gender gap.

Let’s move forward.

Let’s move #40Forward.

Tuesday, October 30, 2012

6 Launch Tips for Mompreneurs



October 30, 2012
Level Playing Field on Inc.com

This post is part of an ongoing series written by Patricia Fletcher, Astia Board of Trustees Member, for her blog on Inc.com, Level Playing Field. Scholar-practitioner, experienced high-tech marketer and advocate for meaningful innovation, she is passionate about leveling the imbalanced technology playing field to include all the best innovators. In addition to serving on the Astia Board of Trustees, Dr. Fletcher happily lends her research, time, and voice to enable women to change the world through high growth entrepreneurship and board service. Follow her on Twitter @pkfletcher.

The great thing about being an entrepreneur is that you have a decent shot at defining your own path.  That flexibility makes it an attractive option for moms re-entering the workforce and those looking to change careers. 

Read the full post at Inc.com...

Thursday, October 25, 2012

Dr. Teresa Nelson blogs about Astia

One of Astia's nearest and dearest advisors, Dr. Teresa Nelson, has joined us this week at Astia's Global Entrepreneur Program in Silicon Valley (Mountain View to be exact). She has been blogging all about the program, the companies and why you (yes, you!) should get involved with the advisory period and beyond at Astia.

Read her thoughts here: http://drteresanelson.wordpress.com/

Thursday, September 6, 2012

Never Make a Cold Call Again: 4 Tips


September 6, 2012
Level Playing Field on Inc.com

This post is part of an ongoing series written by Patricia Fletcher, Astia Board of Trustees Member, for her blog on Inc.com, Level Playing Field. Scholar-practitioner, experienced high-tech marketer and advocate for meaningful innovation, she is passionate about leveling the imbalanced technology playing field to include all the best innovators. In addition to serving on the Astia Board of Trustees, Dr. Fletcher happily lends her research, time, and voice to enable women to change the world through high growth entrepreneurship and board service. Follow her on Twitter @pkfletcher.

One of my summer jobs during college was pure cold calling. I walked uninvited into businesses, selling knockoff designer perfumes and colognes at heavily discounted prices. Success, we were told, was nothing more than a numbers game. Hit as many places as you can, and the odds are that one out of 20 businesses will yield a sale. And if one person in an office buys, others probably will, too.

Read the full post at Inc.com...

Tuesday, September 4, 2012

Calling all High Growth, Women Led Ventures!

The September 14 application deadline to Astia's Global Entrepreneur Program in Silicon Valley is fast approaching

September 4, 2012

Astia is currently accepting applications for its 2012 Global Entrepreneur Program, and we want everyone to know! The Astia Global Entrepreneur Program is being held in Silicon Valley this fall, and we want as many women led ventures to apply as possible. The program is more than just your average bootcamp - it is a catalyst for the transformation from start-up entrepreneur to founder-leader.

But don't just take our word for it. Here are some things that recent Astia companies have said about our program:

“The scope and depth of the Astia network, programming and organizational reach is staggering. Astia has made an enormous impact on our business and we've felt so privileged to participate.”
AJ Strosahl, CEO, DonationPay, Astia Fall 2011 Cohort 

"The Astia bootcamp completely exceeded my expectations. It was advanced, detailed and introduced us to many of the key players in the fundraising community here. There was no time wasted and it was an extremely worthwhile investment for our business."
Sherry Lomardi, CEO, Hulafrog, Astia Summer 2012 Cohort

About the Program:
The Entrepreneur Program is an unparalleled resource for success - a transformative program designed by entrepreneurs for entrepreneurs who want to become dominant players in their sectors. The format? A comprehensive 5-day workshop, 3-month program of personalized advising from premier experts and the opportunity to start benefiting from the global ecosystem of angels, VCs, corporations, and entrepreneurs that is Astia.

Startups Accepted into Astia’s Program Have:
  • Raised more than $1 billion
  • Averaged a greater than 60% funding success rate, and
  • Achieved 23 exits, including 2 IPOs
Application Deadline: September 14, 2012

Who should apply:Exceptional women-led, high-growth start-ups who know that success is not just about raising money but about growing a business and thriving even in today's tough market.

To apply, please visit: https://gust.com/angel-group/astia/apply

For information regarding Astia, visit: www.astia.org


Tuesday, August 7, 2012

Graduates From MBA Programs Should Look to Startups, Not Corporations for Job Opportunities


Auguest 7, 2012
by Julianna Davies

Astia Guest Blogger, Julianna Davies is a researcher and writer for the online MBA resource, http://www.mbaonline.com. She suggests that instead of looking to larger and more established corporations, recent MBA graduates set their sights on the startup community in order to find positions with growth potential and plenty of learning opportunities. Julianna picks up on a theme mentioned on Astia’s blog, namely that startups allow for more freedom for their founders to develop the skills they need to succeed. 

Though the economic conditions in the United States and throughout the world seem to be slowly on the uptick, job security for new professionals remains quite uncertain. Students who flocked to Master of Business Administration programs years ago in hopes of landing a high paying corporate job are increasingly finding closed doors: even top-performing companies have largely clamped down on hiring, leaving many wondering how to pay off their student loans.

The answer, at least for some, may lie in startups. Startups are traditionally less secure than long-standing businesses, and the pay is often a lot lower to start. A growing body of evidence suggests that entrepreneurial ventures are the way of the future, however, which means that jumping on board now may actually be the smartest thing an MBA graduate can do.

According to a number of scholars, job growth is actually more secure in the somewhat unpredictable start-up environment than in traditional businesses and corporations. A 2010 report by the Kauffman Foundation, The Importance of Startups in Job Creation and Job Destruction, claimed that startups are some of the only opportunities for job growth in the modern United States. Larger corporations are hiring, of course. According to the report, they are not actually creating new jobs, though—they are maintaining their status quo by only hiring to match losses due to resignations or retirements. In many cases, the study found, many businesses are cutting jobs by only filling a percentage of their available slots.

“The study reveals that, both on average and for all but seven years between 1977 and 2005, existing firms are net job destroyers, losing 1 million jobs net combined per year. By contrast, in their first year, new firms add an average of 3 million jobs,” the Foundation said in its official summary of the findings.

Much of this job creation is owed to the ethos associated with most startups. A startup typically begins with an idea and a small group of dedicated entrepreneurs committed to bringing it to life. The company grows almost organically, expanding as needed to meet changing goals and to keep up with demand. The culture is usually profoundly different from larger, more established corporations.

“The larger and more successful the company, the more challenging it is to innovate, not only because of bureaucracy, but also because of a perceived fear of failure,” Gary Shapiro, CEO of the Consumer Electronics Association, a technology advocacy group, told Forbes. “Great innovation drives the most successful companies, from old-line companies that innovate their turnaround, such as Ford, to new generation companies that innovate to lead entirely new categories, such as Google,” Shapiro said.

The focus on innovation and creativity is attracting a whole new crop of graduates, many from the top schools. Organizations like Harvard University host start-up career fairs, where students can network and learn about career opportunities in a variety of small business settings. Internships are also exploding in popularity, enabling students to get a taste of life in the startup world while still in school.

While job security is important, most MBAs and other recent graduates flock to startups not for the paycheck, but rather to be a part of something bigger. “I feel like I’m a problem solver,” Daniel Shani, a 2012 MBA graduate from the University of Chicago Booth School, told the Chicago Sun-Times. “Entrepreneurs first and foremost are looking to solve a problem. They’re much less drawn to the dream of glory and fame. It’s really not about the money. I really would like to make a difference in the world,” he said.

Shani was one of several Chicago graduates to forego high-paying corporate work in favor of following their dreams—or just keeping more control of their careers. There is traditionally much more space to share ideas and be creative in entrepreneurial settings, and the work environment is often much more casual and laid-back.

There are trade-offs, however. “You need to be OK with rapid change, not having a clear road map, not having a management program,” Scott LaChapelle, assistant director of technology platforms and new employer development at Harvard University's Office of Career Services, said of startup opportunities. “You need to be OK with the fact that your job description, if there even is one, may change as well.”

Not everyone is well-suited for life in the world of startups. For those with business savvy who appreciate innovation, creativity, and positive change, however, there might be nothing better than trading in a suit for a slot on a small team of driven workers. The opportunities in this sector are only slated to grow, and job security—though never guaranteed—seems increasingly more promising for people with ideas to share with the world.

Tuesday, July 31, 2012

The Endurance Athlete's Plan for Entrepreneurial Success


July 31, 2012
Level Playing Field on Inc.com

This post is the fourth in an ongoing series written by Patricia Fletcher, Astia Board of Trustees Member, for her blog on Inc.com, Level Playing Field. 

"Entrepreneurs and marathon runners have a lot in common. When I ask a marathoner or an entrepreneur what makes her tick, the response is usually something like this: 'It takes a crazy person to do what I do. So, I guess I must be crazy.'" 

Read the full post at Inc.com...

Sunday, June 17, 2012

Why I Picked Astia In The Jungle Of Startup Accelerators, Incubators

“I made new friendships with CEOs from around the world building products solving a variety of problems.”

Published on: June 12, 2012 


By Poornima Vijayashanker (Founder & CEO, BizeeBee)

When I left Mint.com to start BizeeBee, a number of startup incubators approached me about joining.
While I liked the concept of having focused time to think, learn, and mentors who had help build some pretty amazing technology companies, I decided against joining an incubator.

I needed some time to myself, and quite frankly, I wanted the first six months of starting BizeeBee to be unstructured. Instead of spending time inside brainstorming, I got outside and met potential customers. I interviewed a number of them to understand their needs before a single line of code was written.

After the initial prototype was built, launched, and I had raised a seed round of funding an investor and mentor suggested that I look into Astia. I had heard about Astia before and had also seen many success stories come out of it.

Read the full original post on Women 2.0, here>>>

Tuesday, June 12, 2012

Kauffman Foundation announces $600,000 renewed investment in Astia





Kauffman Foundation Extends Grant to Astia to Accelerate the Growth of Women-led Firms

$600,000 grant to drive innovation to market through the scaling of women-led high-growth companies

(SAN FRANCISCO, Calif. and KANSAS CITY, Mo.) June 12, 2012 – While the number of women-led firms continues to grow, the size of those firms does not. Yet those who are successful at accessing networks and capital perform on par with their male counterparts. In an ongoing commitment to women high-growth entrepreneurs, the Ewing Marion Kauffman Foundation today announced a two-year extension of its previous grant to Astia, an organization dedicated to the success of women-led high-growth startups.

“Kauffman’s previous grant substantially impacted Astia’s programs and ability to continue its exceptional success rate for its companies, so we are doubling down on our commitment to the organization and its methodology,” said Lesa Mitchell, Kauffman’s vice president of advancing innovation. “Research shows that women are under-represented in networks that provide external equity financing and strategic business relationships. Our collaboration with Astia ensures that women gain access to the rich networks that deliver expertise, customers, capital and new markets.”

According to Kauffman data in A Rising Tide, a recently published book on financing of women-led companies, men raised about 80 percent more capital in their companies’ first year of operation than women did. Women rely more on internal financing to start their firms and subsequently lead smaller firms overall. The book reveals “that although women-owned firms have begun to make an impact in terms of numbers, they are still in the early stages of making an economic impact on a larger scale.” The authors conclude that for these firms to achieve their full potential, the women founders need access to networks.

Since the first Kauffman grant was awarded in 2010, Astia has provided access to high-growth expertise and networks to 198 companies, 168 of which used the network to increase their access to outside capital. The Astia community is comprised of more than 1,500 men and women, including more than 300 investors and more than 300 current and former CEOs, dedicated to propelling women-led businesses into high-growth.

“Research shows that successful high-growth companies hit an inflection point that results in hyper growth. The Astia community is a unique and invaluable resource that ensures that the Astia companies successfully navigate to this hyper growth,” said Sharon Vosmek, CEO, Astia. “Astia is profoundly appreciative of this renewed endorsement and strategic commitment from Kauffman to help extend the impact of the community that is the rocket fuel behind the growth of these tech and life science companies. True to Ewing Marion Kauffman’s original vision for the Foundation, the funding will drive innovation to market.”

The Astia program offers peer-to-peer, industry and investor connections. Funding from the extended grant will be used to implement the following enhanced offerings. Annual growth metrics will measure the impact to the companies.

Astia Access – For startups that aspire to high growth and whose founders seek expert-level feedback. Access members receive timely, targeted and unfiltered feedback as well as access to online tools and the Astia community.

Astia Global Entrepreneur Program – For entrepreneurs leading emerging companies who are poised to take advantage of Astia's global community. Chosen by the community via in-person screening, companies participate in the Astia Global Entrepreneur Program that includes a week-long boot camp followed by three months with a team of Astia Advisors. Advisor teams drive to mission-critical business milestones and are comprised of an investor, a c-level entrepreneur and two additional industry leaders.

Astia Portfolio – Launching the second half of this year, this program is for breakout companies on the fast track to success. By invitation-only, these companies from around the world will present to and be selected by industry leaders.

About the Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare. Through its research and other initiatives, the Kauffman Foundation aims to open young people's eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies. In addition, the Foundation focuses on initiatives in the Kansas City region to advance students’ math and science skills, and improve the educational achievement of urban students, including the Ewing Marion Kauffman School, a college preparatory charter school for middle and high school students. Founded by late entrepreneur and philanthropist Ewing Marion Kauffman, the Foundation is based in Kansas City, Mo. and has approximately $2 billion in assets. For more information, visit www.kauffman.org, and follow the Foundation on www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.

About Astia
Astia is a global not-for-profit organization with a distinct focus and mission – to propel women’s full participation as entrepreneurs and leaders in high-growth businesses, fueling innovation and driving economic growth. Guided by a proven philosophy that gender diversity is an essential element of innovation, Astia works with startups around the world as they access capital, grow their businesses, and hone the leadership skills of their founding teams.

The Astia model of engaging a community of experts to the benefit of the select startups it serves has resulted in an exceptional success rate: since 2003, over 60 percent of companies that have participated in the Astia Investor Forums have secured funding or achieved an exit within one year of presenting, totalling more than $1 billion raised and 25 exits, including two IPOs. Headquartered in San Francisco, Astia delivers programs for entrepreneurs in Silicon Valley, New York, London and India.

Astia is generously supported by the following sponsors: The Ewing Marion Kauffman Foundation, The Three Guineas Fund, Fenwick & West, SNR Denton, Silicon Valley Bank, Moss Adams, Microsoft, SAP, Lowenstein Sandler, Cisco, PriceWaterhouseCoopers, AOL, Wells Fargo, BNY Mellon Wealth Management, The Althea Foundation, Gust, SalesForce, Citrin Cooperman, ideaSpace, Prolog Ventures, Golden Seeds, Illuminate Ventures, Alloy Ventures, Opus Capital, AOL Ventures, SAP Ventures, Asset Management, StarVest Partners as well as the generous support of individual donors. For more information, visit www.astia.org and follow the organization on LinkedIn and Facebook and follow us on twitter: @astiaglobal

# # #
Media Contacts:
Rose Levy, rose@goldinsolutions.com, Goldin Solutions
Barbara Pruitt, Kauffman Foundation, 816-932-1288, bpruitt@kauffman.org
Sharon Vosmek, Astia, 415-421-5500 x6, sharon@astia.org

Wednesday, June 6, 2012

Give them what they want. Give them what they need...


Sharon Vosmek
Sharon Vosmek
CEO Astia
This month's newsletter is the final in a three-part series about our endeavor to increase our impact and mainstream our message to the broader business community.

In our conversations with you, we learned that our global community has become a unique and invaluable resource for entrepreneurs. You have told us that where we can increase our impact is by increasing our focus on how we engage that community to help ignite the growth of the Astia companies.

Every successful high-growth company hits an inflection point that results in hyper growth. You told us that the Astia community and offering, when thoughtfully engaged, can be the resource to ensure that the Astia companies successfully navigate to this hyper-growth. The peer-to-peer connections, the industry connections, the investor connections - when mapped to this objective - can be the rocket fuel for growth for the companies we serve.

We listened to you, and to this end, allow us to present the newly refined Astia offering for women-led, high-growth start-ups:

Astia Access - A broad offering for exceptional startups that aspire to high-growth and who seek expert-level feedback. Access members receive timely, targeted, and unfiltered feedback - an invaluable tool for any smart entrepreneur's toolbox - as well as access to online tools and community. Early 2013 Launch

Astia Global Entrepreneur Program - A premier offering for exceptional entrepreneurs leading emerging companies (the "e-suite") who are poised to take advantage of Astia's global community. Chosen by the community via in-person screening, companies participate in the Astia Global Entrepreneur Program that includes a week-long boot-camp followed by three months with a team of Astia Advisors. Advisor teams drive to mission-critical business milestones and are comprised of an investor, a c-level entrepreneur, and two other industry leaders. Launched Spring 2012

Astia Portfolio - A premier offering for breakout companies on the fast track to success. By invitation-only, best-of-class companies from around the world will present to and be selected by industry leaders to join this elite cohort. Launching the second half of this year. 
 
For each level of engagement, companies will receive:
  • Unparalleled access to the global community of entrepreneurs, investors, industry leaders.
  • Unfiltered feedback, strategic guidance & high-level introductions.
  • The opportunity to engage with and learn from a global cadre of exceptional entrepreneur peers.

To help you extend our message, we listened to our entrepreneurs and here are the key messages they would want us to share:
  • Astia is extremely competitive and highly selective: Companies are sourced, screened, and selected by the global community of experts.
  • Astia offers select ventures an opportunity to achieve high-growth: We focus our work on the difficult stages of growth. When things get tough, Astia is with you.
  • Astia is a community: We short-cut the pathways to success through the development of rich relationships. We make the right connections at the right time.
  • Astia offers women entrepreneurs the resources to be successful:  Being a successful high growth company requires rapid professional growth for the founders. Astia's offering provides the leadership skills necessary for founders to become CEO's.
  • Astia advances a woman-led not a woman-only mission. In everything we do we strive for a 50/50 representation of men and women.  
We are excited to implement the ideas you have shared with us and have every confidence that this refined approach will deliver on our desire to increase our impact.

I very much look forward to working with you in the coming months as we roll this out.

Cheers and thank you to all who continue to engage, support, and lead this important work,