Success Story: University of Texas at Austin & True Wealth Ventures Partner to Help Female-Founded Startups Access Elusive Venture Dollars
Recent research in the high tech entrepreneurship world finds companies that are most inclusive of women in top governing positions traditionally outperform other companies with less diversity, demonstrating 35% higher return on equity and 34% better total returns. Yet, only 2.19% of total global venture dollars are going to female-founded startups, despite the workforce being comprised of 50% female, and 36% of small businesses (PDF) being owned by females.
To date they have:
- Closed on over $10 million of their $20 million target raise, with a final close in early 2018.
- Invested in their second female-led startup, Houston-based BrainCheck. CEO Yael Katz has already deployed the technology to 60-plus schools and sports teams for concussion testing, and is working with long-term care centers to identify applications to dementia/Alzheimer’s.
- Received certification by the Global Impact Investment Network (GIIN) as an impact fund, which allows them to receive funds from impact investors, including individuals and foundations.
- Seen the UnaliWear product, their first investment building an “OnStar for seniors,” cleared by the FCC and go live at 3 of the largest medical alarm call centers in the US.
- Reviewed 450 new deals (that’s more than a deal a day!) - a data point they uncovered when preparing their semiannual report for the EDA RIS award.
EDA is proud of the impressive success the University of Texas at Austin and the True Wealth Ventures team have accomplished in such a short period of time, and excited to see the momentum build across the Texas and women’s entrepreneurship community.