Radical Generosity funding model launches in New Zealand to support female-led companies
A disruptive economic model created by SheEO.World designed to actively support a small number of women-led ventures with no-interest loans, launches in New Zealand today.
Theresa Gattung is behind the local launch of SheEO which aims to bring together 500 local female Activators who contribute $1,100 each ($1,000 invested to create a perpetual fund and $100 as a program fee) to create a funding pool of $500,000.
The launch kicks off with some 50 signed-up Activators whose contribution will be used to support five female-led companies. Activators have until 24 November to be part of the NZ campaign.
The second part of the model is about the Ventures and the five selected Ventures not only receive funding but also access to a network of buying power and expertise to help them grow their businesses.
“Traditional funding models haven’t worked well for female entrepreneurs and SheEO is all about women funding women to succeed,” says Theresa Gattung, the New Zealand lead for SheEO.
“We are replicating a proven New Zealand Venture applications open today October 18 and close on November 24 2017 business model which has dramatically increased revenue, growth and impacted selected SheEO Ventures in other countries. The success of the new system is seeing strong interest from all around the world and New Zealand is the first country outside North America to introduce SheEO.” says Gattung.
Vicki Saunders – global founder of SheEO says “I have watched time and again for decades, as investors (mostly men) have put their money into businesses that increase inequality, and perpetuate the cycle of putting more money into fewer hands - five men have the same wealth as a billion people right now – it’s insane - and it literally pulls apart communities I didn’t want to simply level the playing field by bringing more women into that broken model, I wanted to create an entirely different one.”
After decades of watching the stagnant numbers - only four per cent of venture capital going to women, and less than one per cent of corporate procurement going to women-led businesses – SheEO’s model is a breath of fresh air for women innovators and all of the Ventures we supported last year have experienced double digit revenue growth and we want to build on this momentum to help more female entrepreneurs,” adds Saunders
“The vast majority of female entrepreneurs do not have mentors. That’s why beyond the funding component, selected Ventures have the opportunity to tap into the Activator’s networks, buying power and expertise to grow their businesses as well as a personalized, guided development program,” says Saunders.
David McLean, CEO of Westpac, the major supporter of SheEO in New Zealand says “by helping to enhance these businesses it creates a positive financial impact not only on these companies but on the country as well.”
How it Works
The SheEO model has hundreds of women contributing capital into a collective fund called an act of radical generosity, with the money loaned out at no interest to ventures and paid back over a five year period. Selected Ventures get access to women’s networks, buying power and expertise to grow their business. SheEO is on target to reach a $1B perpetual fund supported by 1 million radically generous women around the world.
The application process for NZ Ventures opens on 18 October at https://sheeo.world/ventures/apply-to-be-a-venture/ and will close 24 November 2017. The Top five Ventures will be announced in April 2018.
The SheEO.World goal is to be in 1,000 cities by 2020 loaning $1B annually to 10,000 women-led businesses.
SheEO supports, finances and celebrates creators, makers and entrepreneurs on their own terms. The community is made up of entrepreneurs, executives, public leaders and everyday citizens. For more information or to see the complete list of women activators, please visit https://sheeo.world.
For Further information contact
Theresa Gattung- email@example.com
Chris Woodwiss - firstname.lastname@example.org
Vicki Saunders - email@example.com
Deborah Pead - firstname.lastname@example.org