A note from our editor, Elizabeth MacBride:
Watching the debate last night, I was reminded of how ill-equipped the patriarchy is to handle a man who doesn’t play by the unwritten rules. No one giving the situation more than a passing thought would believe a demonstrated liar and rule-breaker would stay within either the overt two-minute rule or within the bounds of the unwritten rules, that allow for civilized interruptions, sly jabs and flashes of real free-for-all.
Women everywhere, from preschool teachers to mothers to execs who have had to watch male battles in the workplace, went to the obvious and practical response to behavior like Donald Trump’s: Turn off the mic. How satisfying would that be, to flip the switch and silence that juvenile bluster? But doing so would screw up the patriarchal theater of the moment, the boxing match. That blood sport construct is what the patriarchy needs to preserve most of all.
Please send me your ideas for my interview series of 25 women founders around the globe in DeepTech at emacbride@timesofe.com. I’ll be gathering names for a few weeks.
— Elizabeth MacBride, founder of Times of Entrepreneurship
Times of Entrepreneurship Stories of the Week
NOWDiagnostics Is Selling Millions Of COVID-19 Tests In Europe. But After FDA Flubs, It Waits On U.S. Approval
As doubts persist about vaccine timeline, it becomes clear that pandemic response requires a complex web including tests, tracing, treatment and prevention.
81% Of Entrepreneurs Don’t Get Funding
This model of finance could help but it requires letting go of the equity mindset.
A Mask-Making Business Born Out Of A Friendship Offers A Ray Of Pandemic Light
Two men arrived in Northwest Arkansas at about the same time two years ago, leaving homelands to shape a new life in the United States.
Important Stories from Elsewhere
Here’s What The Latest $2.2 Trillion Stimulus From Democrats Includes
The new package proposes more funding for the Paycheck Protection Program, including funds set aside for microbusinesses.
What The New Iteration Of The HEROES Act Would Mean For Restaurants
The revised bill, introduced by House Democrats, would allocate $120 billion in grants for restaurants, bars and food trucks.
Small Business Owners’ Optimism Up From April, Below COVID 19
Owners want candidates to focus on rebuilding the economy.
Is It Insane To Start A Business During the Coronavirus?
Millions of Americans don’t think so. Applications for new businesses are rising at the fastest rate since 2007, though the number of new businesses doesn’t replace those lost to the recession.
Why Silicon Valley CEOs Are Such Raging Psychopaths
Maelle Gavet, a 15-year veteran of the tech industry, tackles a perennially interesting topic in Trampled by Unicorns.
Women Founders Of AI Startups Take Aim At Gender Bias
They see gender diversity in their companies as crucial in making sure the technology doesn’t penalize the under-represented.
Best Colleges For Entrepreneurship
U.S. News & World Report just released its new ranking. Among the top 10: Indiana University: Bloomington, University of Michigan, Ann Arbor and University of Utah.
Indoor Farming Startup With Martha Stewart On Its Board Joins The SPAC Craze To Go Public
Kentucky-based AppHarvest intends to bring the produce industry to Appalachia. Meanwhile, the Boston-based robotic gardening startup Tertill has appointed iRobot co-founder Helen Greiner CEO.
A Group Of Powerful Women In The Midwest Launch Curated Network
Members of Vest, which launches today, will work together to expedite the pipeline of women in positions of power and influence.
“Fantastic Funghi” Filmmakers On How The Pandemic Gave The Documentary A New Life
The sleeper film, embraced during COVID-19, was sparked by the AAAS Lemelson Invention Ambassador Program.
Indonesian FinTech Startup BukuWarang Gets New Funding To Add Financial Services For Small Merchants
A roster of high-profile investors, including DST Global, Soma Capital and 20VC have reportedly put in more than $10 million.
You May Have Missed
This Incubator Has Nurtured Some Of The World’s Most Important Startups. Now It’s Raising $50 Million More
Echoing Green has funded more than 800 social entrepreneurs over more than 30 years.
Founder Story: SuperMama, The Arabic Language Parenting Portal, Exits
Yasmine ElMehairy shares stories of the Cairo-based company’s growth to 5.5 million a month and its eventual exit.
Venture Capital Spotlight
Arboretum Ventures
Ann Arbor, Michigan
What it is: Founded in 2002, Arboretum Ventures focuses on investing in medical devices, life science tools and diagnostics and tech-enabled care delivery. The firm also prioritizes companies that deal with chronic condition management, incentives for wellness and prevention, rising consumer engagement and the expansion of integrated care. The firm’s fifth fund raised $250 million in 2019.
Leadership: Founded by Jan Garfinkle, a long-time financier and entrepreneur
Investment style/track record: The firm makes investments of an undisclosed amount into companies that have launched commercially or are within two years of commercialization and are “under-ventured” geographies in nascent segments. The fund seeks companies that provide “better, faster, cheaper” technologies that align with current value-based healthcare initiatives and targets CEOs with experience and domain expertise who are seeking investment partners rather than passive financiers. The firm pursues companies that demonstrate capital efficiency and require less than $40-50 million to achieve an exit while delivering meaningful healthcare system cost savings.
One of the firm’s successful exits was nVision Medical, a women’s health company that developed a novel balloon catheter capable of unprecedented access to the fallopian tubes for ovarian cancer diagnostic assessment that successfully collected cancerous cells for diagnostic purposes. The firm led the $12 million Series B investment and recruited additional syndicate partners. Boston Scientific acquired the company for an upfront payment of $150 million with an additional $125 million in potential clinical and commercial milestone payments.
The firm has invested in over 50 companies and currently has 21 companies in its portfolio. Among Arboretum’s recent successful exits have been the sale of Maple Grove, Minnesota-based NxThera to Boston Scientific for up to $406 million and joint surgery company Si-Bone which went public last year in a $124 million IPO.
Quote:“We target trying to reduce 20% of the episode of care,” said Jan Garfinkle, founder and managing partner in an Associated Press article. “We’ve invested now in 50 different companies and they on average they hit that milestone.”
Events and Competitions
Women and The Changing Face of Entrepreneurship In Africa
Dates: Oct. 1 and 2
Location: Virtual
Information available here.
This conference aims to provide a clearer understanding of the landscape of female entrepreneurship on the continent and features a keynote by
Dr. Vera Songwe, United Nations Under Secretary-General.
Follow the Entrepreneur (FTE) Investment Campaign and Summit
Dates: Oct. 10-14
Location: Athens, Greece (event will also be live streamed)
Information available here.
VIVA Investment Partners, a Swiss private equity firm, is hosting this gathering, where entrepreneurs will come together with leading global investors to build relationships and identify opportunities to collaborate.
Imagine H2O’s Water Innovation Week
Date: October 12-14
Location: Virtual
Information available here.
Industry leaders, entrepreneurs, investors, customers and advisors will meet to discuss the opportunities that exist in the water sector this year.
Hong Kong Science And Technology Parks Corporation’s Elevator Pitch Competition 2020
Deadline for applications: October 19, 2020
Location: Virtual
Information available here.
Tech entrepreneurs around the world can compete in this virtual elevator pitch competition, which last year received 650 entrees. Ideas should be in four areas: artificial intelligence and robotics, fintech, health technology and smart cities.
SOCAP Virtual: A Global Impact Summit
Location: Virtual
Dates: October 19-23
Information available here.
This gathering of global change-makers aims to address the world’s toughest challenges through market-based solutions.
Young Entrepreneur Convention
Location: Ames, Ohio
Deadline: October 24, 2020
Information available here.
The theme is “founders helping founders” at this one-day event, aimed at business owners in their teens and twenties, at Iowa State University.
Greentown Labs Climatech Summit
Date: Nov. 5-6
Location: Virtual
Information available here.
Entrepreneurs, investors, business leaders, policymakers, startup support organizations and other climate champions will come together to chart a holistic course to building a sustainable future for all.
Nevada Virtual Pitch Competition
Date: Nov. 6, 9 am to 3 pm
Location: Virtual
For more information, write to: NVRuralpitch2020@gmail.com.
Created to stimulate entrepreneurship in rural Nevada, this virtual pitch competition, which will award cash prizes up to $1,000, will include educational resources and learning sessions.
Sight Tech Global
This virtual conference is dedicated to fostering discussion among technology pioneers about how rapid advances in AI and related technologies will create a more accessible world for people with blindness and visual impairments.
Date: Dec. 2-3, 2020. Registration is free and opening soon.
Information available here.
Baylor New Venture Competition
Date: March 25-27, 2021; Applications open September 1, 2020
Location: Baylor University; Waco, Texas
Information available here.
Baylor New Venture Competition offers applicants business plan feedback, mentorship, and a chance to compete for more than $250,000 in prizes. Collegiate entrepreneurs from around the globe are eligible to participate in the competition, hosted by Baylor University.
Rolling:
MassCEC’s InnovateMass Program
Deadline: Rolling
Information available here.
This program offers up to $250,000 in grant funding and technical support to applicant teams deploying new clean energy technologies or innovative combinations of existing technologies with a strong potential for commercialization. Applicants must run Massachusetts-based companies or have a location in the state and have a technology that fits specific guidelines.
