CENTER VALLEY, Pa. — Penn State Lehigh Valley (PSU-LV) LaunchBox recently hosted two screenings of “Show Her the Money,” a documentary that sheds light on how venture capital funding works and the disparity between male and female entrepreneurs when it comes to venture capital and startup funding. The screenings were co-sponsored by Changemaker, a nonprofit that empowers women entrepreneurs through education, technical and professional support, and grants.
Cindy Evans, director of business development for PSU-LV LaunchBox, was first contacted about the film last fall. Evans said the mission of Changemaker and the message of the film aligned perfectly with the mission of LaunchBox — to offer information and resources to help entrepreneurs and innovators bring their ideas to reality. Although venture capital is a new avenue for LaunchBox, Evans felt the film’s message was an important one and female entrepreneurs would benefit from learning more about these opportunities.
The film, produced by She Angels Investors founder Catherine Gray, takes a closer look at the world of venture capital — what it is, how it works, and why women get less than 2% of this funding for their business ventures. There are a few reasons for this, Evans said:
"Many women don’t know about it [this type of funding], and many don’t feel they have a strong enough voice to pursue this type of funding with confidence.”
A compelling business pitch is an important element of securing funding of any kind, Evans said. Events like the annual LaunchBox Ladies pitch competition at Penn State Lehigh Valley give female entrepreneurs the opportunity to perfect their pitches so they can approach potential investors with confidence. As part of the competition, LaunchBox Lehigh Valley pairs the participants with mentors who help them develop their strongest pitch, product and self.
The film features both female entrepreneurs and female venture capitalists whose unique perspectives shape both sides of the discussion. This is a relationship Evans would like to cultivate in the Lehigh Valley. “We want to bring some good funding to the Valley,” Evans said. Following the film screenings, attendees engaged in a lively panel discussion with regional female leaders who are driving real change and providing a dynamic perspective into the challenges and triumphs of female entrepreneur and business ownership.
Friday night’s panel included Gray, the film’s producer, and La Keisha Pierre, founder of Emmeline Ventures, both of whom participated via Zoom, and in-person panelists, Elaine Pivinski, owner of Franklin Hill Vineyards; Ariel Baker, Program Coordinator for WE 360 at YWCA Tri-County Area; Tedra Butler, Impressly Events LLC, and Felica Shanken, CEO and founder of the Philadelphia Women’s Network Connection LLC. Saturday’s panelists were Amy Ensinger, Pure Romance; Ariel Baker, program coordinator for WE 360 at YWCA Tri-County Area; Denise Williams, Be ReZilient; Donna Tomlin, PS It’s Natural; Pam Bartlett, FranStrategies; and Andrea Brock, Andrea Brock Healing and Wellness.
Janear Hankerson, Ramona Harris, and Christina Oyola, three previous LaunchBox Ladies Pitch Competition participants, were on hand as vendors for the post-event reception.
“I was able to hear how these business owners are doing, and how they’re continuing to grow their business, or and maybe pivot based on things they’ve seen or experienced. It’s all about collaborating, communicating, and engaging with these women through the LaunchBox system,” Evans said.
There was much to discuss. “Everybody was very engaged. There were amazing questions asked during the panel. Afterwards, we sent a thank you note to all attendees and asked them what they thought. They want to continue this conversation. They were appalled that women only get a small portion of this money,” Evans said.
Female entrepreneurs are a worthwhile investment for venture capitalists, Evans said. “Typically, what we find is female entrepreneurs are more successful in the long term,” Evans said. Ideally, she said, she would love to see more people knowledgeable about venture capitalists come to the Lehigh Valley. She is excited about LaunchBox’s potential to be a catalyst for change and make these important connections between entrepreneurs and lucrative funding sources.
Real estate agent and entrepreneur Sarne Brewster attended a screening and found the film inspiring in several ways. “’Show Her the Money’ truly inspired me to turn my dreams into reality. It opened my eyes to the incredible women who are already paving the way for others, women who have faced struggles and are now ready to help those willing to ask,” she said. “And so, I reached out. Connecting with these women in the room helped me chart my own direct path to success. This documentary has further fueled my desire to increase my wealth, so I can one day give back and support the phenomenal women entrepreneurs who are making a positive impact on the world. I know I’ll look back at this event as a pivotal moment in my journey as a woman entrepreneur.”
A third screening of the film is scheduled for April 16 at Penn State Lehigh Valley, which will be followed by a panel discussion and networking. Vendor and sponsorship opportunities are available.
For more information about LaunchBox, visit Lehigh Valley Launchbox. For more information about "Show Her the Money," visit Show Her The Money Movie.