Female founders face challenges in getting equal access to opportunities for their businesses, however, Michele Romanow, co-founder and CEO of Clearco, says the battle is worth it.
Clearco, the world’s largest e-commerce investor, has invested $3.2 billion in over 7,000 ecommerce and SaaS companies. It launched in Australia in October 2021 where it has already invested in over 350 e-commerce companies including PhychoHealth, McInt
Clearco uses AI to inform investment decisions which removes any inherent bias.
“I am very proud of the impact Clearco has had on the e-commerce community and our support of women leaders – we have literally changed the face of investment.” Michele says.
“Today we fund 25 times more female-owned businesses than traditional VCs do, and a staggering 50% of our current global portfolio is made up of businesses led by women.”
To encourage other women to #BreakTheBias on International Women’s Day 2022, Michele has issued three tips based on her own experience starting out in the industry.
Start now and take action
Don’t get trapped in a cycle of waiting for the perfect time to start a business, that time doesn’t exist. You need to jump in and get the ball rolling as soon as possible.
Worrying doesn’t solve a problem, the only thing to solve a problem is an action. Being a woman in business means you’ll face rejection and all you can do is get back on the horse.
Be genuine and responsible
Great leaders are genuine, authentic and responsible. That sounds very easy when you say it out loud. But it’s so hard in reality. Everyone has a plan until they are punched in the face.
It’s easy to see blame get spread and not take responsibility, but you need to sit back and ask yourself: “What was the role that I played in this disaster? How do we all collectively own this so it becomes an organisational learning and not something we continuously repeat?”
Find a strong mentor
A single mentor relationship can change your whole life. One of my great mentors and a woman who has inspired me is Ruma Bose, Clearco’s Chief Growth Officer.
When you think about building a great mentor relationship, also think about the things that you can do that add to their life. All great relationships are based on mutual benefit.
About Michele Romanow
Michele Romanow is the co-founder and CEO of Clearco – the world’s largest e-commerce investor. The company has invested $3.2bn in over 7000 ecommerce and SaaS companies.
It launched in Australia in October 2021 and has invested in 350 ecommerce companies. Michele is a serial entrepreneur having started six companies before her 35th birthday. Michele is also a “Dragon” on the Canadian hit TV show Dragons’ Den (Canada’s Shark Tank).
Co-founded as Clearbanc in 2015, Clearco offers the most founder-friendly capital solutions for e-commerce, mobile apps, and SaaS founders as well as a full suite of products and access to a powerful global network, insights and data, and recommendations.