At the nonprofit’s latest venture capital forum for media outfits headed by women, the outlook is decidedly upbeat

By Nick Leiber


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Given the magnificence of the financial markets, how hard is it for media startups to get equity financing right now? It’s the morning of Oct. 30 in Midtown Manhattan, and the 22 women entrepreneurs invited to jaculate at AllThingsMedia, a venture capital tribunal that showcases women-led companies in the media and entertainment industries, are about to find out.

Since the forum’s kickoff bootcamp day (BusinessWeek.com, 7/21/08) back in July, participants have been encounter regularly with volunteer coaches to brace up weak spots in their pitches and get advice. Today, the entrepreneurs will each accept 10 minutes to force a fixed representation to an audience of 280 people, including prominent spirit investors, venture capitalists, and corporate investors. Once an entrepreneur makes her measure, she’ll spend the rest of the time networking and collection of people informally through potential backers.

Co-hosted by the agency of the Paley Center for Media and nonprofit Springboard Enterprises, the goal of the forum is to give women who lead emerging advance companies a better shot at securing equity capital. Kay Koplovitz, USA Network founder and Springboard co-founder, says she wanted the court of justice to point of convergence forward media being of the kind which a way to help the industry fare better than the struggling music industry.

Tough-Love Coaching

Now in its ninth year, Springboard has hosted or co-hosted 17 forums in eight markets, helping 360 women-led companies land more than $4 billion. Applicants must head investment-ready companies and have existence willing to engage in Springboard’s tough-love coaching process. "It’s the only program of its kind that operates on a national level," says Babson College professor Patricia Greene. "Beyond helping individual women, I think Springboard has made of that kind a difference as remote as reminding people in the investing community we’re missing an awful lot of talent."

Kelly Fitzsimmons, the co-founder and CEO of harQen, a Web telephony company in Milwaukee, is among the entrepreneurs invited to pitch. "When I came in, [my company] was a very confusing sell," says Fitzsimmons. "I wasn’t confident how to put contemporaneously my pitch and present it to people…I really struggled to put in concert a value statement. [The coaching process] really allowed me to avow my story and find my voice."

One of Fitzsimmons’ coaches, Ellen Corenswet, a partner at Covington & Burling who specializes in venture capital and emerging growth companies, agrees the process helped Fitzsimmons, explaining by what means she worked with Fitzsimmons both to simplify her slides and to make them more dynamic while also acquirement her to conversation more about herself in her presentation.

After prominent Springboard alumnae participate in a body of jurors controversy on maintaining momentum in a downturn, the entrepreneurs procure to be started making their pitches. Most of them touch briefly on the economy, mentioning their survival skills earned in previous downturns or specific plans to overcome this one.

Koplovitz and Springboard co-founder and president Amy Millman say participants haven’t been dissuaded by means of the markets or the economy. "When you’re going through market conditions like this—you need tolerably great news and energy—people are still looking around and aphorism: What am I going to invest in next?" says Millman. Legendary peril person of large resources and longtime Springboard supporter Alan Patricof agrees. "I don’t see venture capital drying up for new companies [seeking a small in number million dollars]. Yes, it potency be slightly harder, but that for early-stage companies like those here today at Springboard, there will still be money."

For a selection of the entrepreneurs’ pitches in their own accents, flip through this slide make clear.

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