Get lean and mean when raising capital and building product, says Empire Global Ventures CEO Alexandra Stanton.
Empire Global Ventures CEO Alexandra Stanton explains to TechRepublic's Dan Patterson why women in tech face bigger challenges than men. The following is an edited transcript of the interview.
Dan Patterson: I often hate this framing. But, women in Silicon Valley have been marginalized for years, yet many of your founders are women, and they're doing great in business, which feels like, of course, we should assume that everyone can succeed in business. Women, in particular, in technology, have faced challenges, especially in the last decade, that their male counterparts have not. What advice do you have for female co-founders, or female founders, specifically, in New York City?
SEE: Hiring kit: Chief diversity officer (Tech Pro Research)
Alexandra Stanton: Lean and mean. When it comes to raising capital, be surgically focused on only what's needed. Funders don't want to fund externalities. Be really precise, and ask for only what you need, and be able to defend your budget. It's really the most important piece of advice we give female founders.
Dan Patterson: Why is it good for the entire community to invest in diversity?
Alexandra Stanton: Listen, great ideas come in all shapes and sizes. Women and people of color, have as much to contribute to the tech ecosystem as anyone else. If you're not open to everyone walking in your door, you're harming your business, and you're not going to find the next great thing.
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