‘Invest in She’ to highlight entrepreneurs

CEDAR RAPIDS - Invest in She, an event set for Sept. 18 at the Paramount Theatre in Cedar Rapids, won't change the tide for women business owners in Iowa, but the organizers believe more awareness and a little cash never hurt.

'We need to get them out from behind the curtain, so people know what they're doing and can support them in the way that they need to be supported,” said Lydia Brown, president and CEO of Ascent Iowa, a not-for-profit organization that supports women in business.

Ascent is partnering with the Iowa Women's Leadership Conference and presenting sponsor Guaranty Bank to create the new event.

Six women entrepreneurs will have the opportunity to pitch their business to a panel of judges comprised of local business leaders. The judges have pledged to give feedback on-the-spot and invest up to $40,000.

The judges cannot invest directly in the businesses in exchange for equity because of SEC regulations regarding angel investing. Instead, they will give the presenters 'critical feedback in a positive way,” and make a donation to Ascent, which will help the entrepreneur connect with necessary resources.

Though Ascent and the IWLC have not worked together on an event previously, Brown and Diane Ramsey, executive director of the IWLC, have been friends for years. Brown was inspired to launch Ascent at an IWLC event, when she heard of a 2012 report by American Express that ranked Iowa last or next-to-last on every measure for women in business.

Ramsey said the IWLC hopes to collaborate on events like Invest in She to expand its impact beyond its namesake annual event. More than 9,000 women have attended the Iowa Women's Leadership Conference since it launched in 2007, and Ramsey wants to be more intentional about tapping into that network to support other women.

Even as the two organizations prepare to highlight women, they are painfully aware that the statistics haven't moved much since Ascent was founded. The Iowa Small Business Report, released last week by the University of Northern Iowa, included a supplement on women in business that showed few changes.

Overall, women-owned businesses in Iowa generate less sales revenue, are younger than male-owned businesses, and are clustered in hard-to-scale industries like retail and professional services.

'It is going to take a generation,” Brown said.

Invest in She tickets are $55 and are available at iwlcleads.org.

l The Gazette Company's We Create Here initiative explores storylines that will shape the future of Iowa. Learn more at wecreatehere.net or by contacting Sarah Binder at (319) 368-8568.