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At age 25, Laura Sanko was a founding member of a startup that raised $3.5 Million from some world-famous investors and the Founder’s Fund. The business model was simple: a website that rented high-end jewelry for special occasions for a fraction of the retail value of each piece. Three years later, the investment money was all gone and while the site continued to operate, it had failed to meet the investors’ expectations. I sat down with Laura to figure out what went wrong.
According to the Kauffman Index of Entrepreneurial Activity, a leading indicator of new business creation in the United States, men are “substantially more likely to start a business each month than women”. In the seventeen year period from 1996 – 2012, the average rate of entrepreneurial activity for men was .37 percent; for women during the same period it was .23 percent.
Last week we launched a brand new program for startup companies who had previously presented at 1 Million Cups, the Kauffman Foundation's weekly educational program that features two local startups presenting to the community over coffee. This new effort, launched with the folks at Dream Big America, will continue to put a spotlight on startup companies from throughout the country.
As an entrepreneur in residence, I'm responsible for a wide variety of projects ranging from program management and storytelling to mentoring and teaching, the latter being the main focus of this and future blog posts.
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