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Astia’s mission is to increase the number of successful, women-led start-ups in high-tech, life sciences and clean tech. We work with selected companies to accelerate their fundraising and growth through four programs for Seed to Series D companies. Through four customized programs, Astia provides C-level coaching, advice on successful fundraising, leadership skills development, access to free legal advice, in-depth technology and marketing analysis, and access to extensive networks of investors and potential customers. These services are provided by our staff and our Advisor Network of more than 350 professionals including 70 current and former CEOs and 80 investors. In the last four years, we have worked with over 110 women-led companies that have raised over $368 million. 72% of the companies participating in the 2005 Venture Conference received funding or were acquired and the results from 2006 are similarly promising. Our programs results in tangible changes including stronger business plans that attract funding; tighter market analysis with clear go-to-market strategies; stronger technology positioning; management team expansion; and customer traction from introductions. It is through these changes we help to accelerate funding and growth. Our goals are to continue to increase the success of our companies by taking our portfolio programs to the next level; to expand programs to women-led, VC-backed companies; and to extend our reach nationally. To benefit from our expertise in developing early stage start-ups; to accelerate their growth and fundraising; to build out their A-level team; to gain leadership skills training; and to access our vast investor and customer networks. Primarily through referrals from angels, VCs, law firms, other service providers, our mentors, and others who know the value we provide. For those companies seeking to become part of our portfolio, we ask our industry experts, including CEOs and VCs, to review the presentation. We look for:
The Astia Venture Conference companies present to VCs and are selected on the basis of whether they are ready for VC funding. Not at all. All companies we work with have both women and men in their senior management teams. And our mentor teams are similarly diversified. We invite VCs to review our companies, to speak on one of our many panels, to participate in workshops, and to attend our Venture Conference. We are fortunate that a number of VCs are actively engaged as members of our Mentor Network, Executive Council, Advisory Board and Champion Circle. We do not provide offices. We work exclusively with companies we select in a competitive process – whereas incubators typically work with companies that rent space. In addition, we provide our Portfolio companies with unlimited professional expertise through our more than 350-member Advisor Network. We are able to attract successful professionals to be mentors because of our focus on women and their interest in investing in the next generation of women leaders. Most mentoring organizations are focused on the individual. We are focused on the success of the whole company. As a result mentoring is provided to all team members. Astia Programs include:
Astia’s mentors are interviewed to ensure they are aligned with our mission. The mentors also access their networks for our companies, and this enables us to have the right resources at the right time. The Astia Venture Conference raises the profile of women-led companies and provides a platform that produces results. Our Venture Conferences are unique – we provide 9 sessions of VC-led panels and hands-on workshops. Additionally each company is matched with 2-4 coaches for two months including one investor and one CEO. It is this Program that enables us to deliver our results. Our programs are heavily subsidized through the financial support of leading organizations including: Fenwick & West; Pillsbury Winthrop Shaw Pittman; Wells Fargo; Microsoft; DLA Piper; Mintz Levin; Citigroup Private Bank; SAP; Nixon Peabody; Moss Adams; The Althea Foundation; Cargill Ventures; Cisco; Levensohn Venture Partners, Latham & Watkins as well as many others. They are statistically less likely to be funded and thus, must be better prepared and optimize their fundraising strategy to maximize their chances of success. There are many great women organizations supporting entrepreneurs. Most are focused on non-tech areas, where there is a much higher participation by women or are purely focused on networking or mentoring. A wonderful and positive impact – VCs are honored to be recognized
as contributing to the larger picture at the same time as making good
investment. We know have VCs coming up and stating proudly how many
women they have in their portfolio
The Awards has also increased the visibility of the low number of women CEOs in VC invested companies – for 2006 only 4.3% of investments made had a woman CEO which is down from 7.5% in 2002. We have just changed our name to Astia from the Women’s Technology Cluster. Although it is a large change there is no change in our mission – it reflects the growth of our mission.
Our tag line “where women innovators succeed” endorses a bigger scope and summarizes what we achieve. The Women’s Technology Cluster no longer adequately described who we are. Women - we are really about women and men working together - not building a silo for women, but focused in integration. Women so boldly in the name disenfranchises the men who are also in our community and ecosystem. Technology is typically interpreted as referring to high technology which is where we started. Now we are encompassing all forms of technological innovation, including biotechnology, med tech and clean tech. Cluster was appropriate when we had principally on site portfolio companies, but we have now moved completely away from this.
Goal of Change The name change in no way impacts our mission which will remain the same with a clear focus on women-led companies across all areas of technology.
Latin origins of Astia Astrum - star, an allusion to the rising star of women entrepreneurs Astia - Where Women Innovators Succeed |