It was suggested, and extensively discussed in the comment section of this A VC blog post yesterday, that it would be a good idea to establish a tech accelerator dedicated to women entrepreneurs. The merits of an accelerator program – which is a platform to promote entrepreneurship through mentoring, management, networking, sometimes incubation, and other expert resources – have been proven out by pioneers such as Y Combinator and Tech Stars. Judging by the enthusiastic reaction to the referenced blog post, and by the entrepreneurial successes of three of New York’s four (arguably) most prominent recent startups – Gilt Groupe, Huffington Post, and Hunch, all founded or co-founded by women, (the fourth being Foursquare) – the concept rests on solid ground.
But it is also important, in my opinion, to take the idea one step further, and try to understand if there may in fact be a differentiating source of value behind the concept, assuming that gender is not in itself a determining factor. In so doing, we might arrive at conclusions that, transcending gender, could be even more consequential. My thought process is not based on surveys or market studies, but rather on anecdotal evidence and occasional observation. I am thus sure that there will be countless exceptions to the generalization presented: I have noticed that – whereas the more technically oriented entrepreneurs tend to be male – women tend to come from backgrounds more closely associated with marketing, commerce, and management. If digital media entrepreneurship has to this point been dominated by guys, that may actually be a reflection of a start-up emphasis on technology. This scope is now broadening, perhaps substantially, and perhaps permanently.
While innovation will always be paramount, one could argue that we are entering a stage of transition for digital media, in which execution and profitability are rising to equal prominence with technical invention. It is probably no coincidence that the most successful digital startup of the past year has been Groupon, the technical sophistication of which is far outdone by its marketing savvy. It is also interesting that the previous leaders of the startup universe – Facebook and Twitter – both seem now supremely focused on revenues, while the champion of the prior generation – Google – is being penalized by financial markets for its diminishing revenue and profit prospects, even though its technical inventiveness is as strong as ever. Based on my isolated experience and the observations presented, an accelerator that is dedicated to female entrepreneurship would in important ways parallel the evolution of the sector.
In such a dynamic, while the older media platforms would perhaps benefit most from sophisticated technicians, the newer platforms would require marketing executives, seasoned advertising pros, and good operating management. Another way of saying the same thing is that the two segments – if such a separation still exists – need more and more to cross ranks. If so, then a valuable accelerator model, perhaps in addition to one defined by gender, would be one defined by sector background: a program fostering the entrepreneurship of former “traditional” media executives who are transitioning to a new world order. It will quite likely be the case that many, if not most, of these emerging platforms will be led by women.
