How to Raise $1.8M in VC While Still in Business School

Vanessa Green explains how to raise VC money while still a student in business school. Also, women out number men in grad school ... except in MBA programs ... despite 10 years of recruitment efforts.




We have Great Show today.
Vanessa Green will tell you how raise $1.8M in VC funding
All, while still in B-School

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(1) Headlines:

50% of Graduate students are women.

We did it! We won. Wooo hooo. Yes yes yes yes yes.

*Bing* Excluding business schools

[deadpan] Oh ….

But enrollment of women in business schools has increased from 25% to 35% in the last 10 years

We did it! We won. Woo hoooo. yes yes yes yes yes.

*Bing* Only at the top 10 business schools.

Son of a bitch!

But … Overall, MBA’s are now 30% female

That is terrible! 10 years we’ve been investing in this. That’s 5% over 10 years. If you look at the statistical error, we may not have moved at all.

Recruiting women is tapped out. That has been pushed and pushed and pushed. We have reached the limits of what push can do and now we need pull to take over.

At this point, fewer women are applying to business school simply because the marketplace isn’t offering enough attractive jobs.

GMAC’s annual survey
Women send 20% more resumes for ½ the job offers that men receive.

Well that explains that. Based on those stats, the number of women going to b-school should be going down.

But check this out: In China, 63% of GMAT test-takers are women.

I’ve got it. I know how we can increase the number of women in business school! Become Chinese.

Tom, I’m an entrepreneur. I’m trying. Believe me, I’m trying.

http://www.businessweek.com/bschools/content/may2011/bs2011054_151720.htm
http://poetsandquants.com/2011/05/07/why-more-women-become-lawyers-doctors/
http://management.fortune.cnn.com/2011/04/28/why-do-men-outperform-women-at-harvard-biz-school/
http://poetsandquants.com/2011/03/02/women-the-mba/

(2) Interview: Vanessa Green

Intro: If you’re a woman thinking about going to business school and you’re looking for a role model, look no further than our next Guest. Vanessa Green created her own job. Actually, she created four. She raised $1.8M in VC money from Venrock and Paytech while attending B-school full time!

There are advantages to being a man in entrepreneurship. There is a stronger culture of women supporting men married to their jobs. There isn’t a strong culture of men supporting women married to their companies.

Can you start a company and have a family too?
Would you raise money during school again?
Didn’t they pressure you to drop out of school?
Who are your cofounders?
Three guys. Course 6. PhD’s.

When did you decide to do this?
Vacation.

Why didn’t you give up after 28 firms?
The ball was always rolling.

The momentum really built after we got our first term sheet. We ended up with three. We had to force it in the end.

People won’t give you a term-sheet unless you force them to.

I pitched over 30 firms. You don’t just pitch once.
Wear heels, put hair down.

What was the most painful thing that you gave up?

I’m good at reading people, assessing situations. Memorable.

What is the difference between men and women entrepreneurs.
Women are more passionate about their project, but men are motivated by making money.

My office is right by school.

I have prioritized school.

Setting expectations on the company side is really important.

They asked you to change your voicemail message?!

(3) Jargon: Vesting
Earn you share over time. Vesting is the schedule that you earn your promised shares on.


(4) Business School Tip of the Week: Find a Team
B-school is a great opportunity to build a team. Having the right team is the most important thing.

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