Women in Tech of the Week (5/10/17)
Elizabeth Gore, Entrepreneur in Residence, Dell EMC, and Carolyn Rodz, Founder and Chief Executive Officer, The Circular Board
Almost 1,000 women (983 to be exact) started net-new* businesses per day in the U.S. from 2012 to 2016, according to the “2016 State of Women-Owned Businesses Report,” commissioned by American Express OPEN. In a little less than a decade, the number of women-owned companies has grown at a rate five times faster than the national average, the report said. Other report revelations show there are 11.3 million women-owned firms, employing nearly 9 million people and generating more than $1.6 trillion in revenue.
However, there is a flipside to this encouraging news. Women have less access to formal and informal networks in science, technology and business services leading to management and leadership positions, as reported by the US Chamber of Commerce’s Women-Owned Businesses. Additionally, when it comes to accessing capital, women also lack the necessary funding.
Through its cloud company, Pivotal Software Inc., Dell Technologies Inc. is part of an effort to level the playing field for female entrepreneurs. Pivotal partnered with The Circular Board on a project called Hello Alice, the first artificial intelligence-based virtual advisor for female entrepreneurs. It took three months for the company to develop, test and launch the software using its cloud technology that provides Hello Alice with machine learning capabilities.
The goal is to continously compile data and grow the platform in an effort to connect, mentor and help female entrepreneurs scale their businesses. Using algorithms devised from user content as it populates the site will assist in developing the capabilities that can predict what the user requires and then offer targeted solutions.
“We’ve been really proud to partner with [The Circular Board] for the last two years, because they use a digital platform that is very scalable,” said Elizabeth Gore (pictured, right), entrepreneur in residence at Dell EMC. “Women are only getting three percent of venture capital in the U.S., so access to capital, mentorship, networks is really critical. And so we’re really excited to partner with ‘Hello Alice’ to help solve that problem.”
Gore and Carolyn Rodz (pictured, left), founder and chief executive officer of The Circular Board, spoke to Rebecca Knight (@knightrm) and Paul Gillin (@pgillin), co-hosts of theCUBE, SiliconANGLE Media’s mobile live streaming studio, during Dell EMC World in Las Vegas, Nevada.
This week, theCUBE spotlights Elizabeth Gore and Carolyn Rodz in our Women In Tech feature.
Be sure to follow Elizabeth Gore (@ElizabethGore) and Carolyn Rodz (@carolynrodz) on Twitter, and be sure to check out more of SiliconANGLE’s and theCUBE’s independent editorial coverage of Dell EMC World 2017.