Supercharging women’s startup success

A palpable sense of electricity emanated from Wellington’s iconic St James theatre last month as 600 inspiring female founders, a sprinkling of supportive men, and a line-up of 39 top-shelf motivators came together for Electrify Aotearoa.

There was a strong feeling that if we could bottle the electrical spark generated, we could fundamentally change the future for women, New Zealand, and the world.

Marian Johnson, chief ‘Electrifier’ and all-around head cheerleader of women founders in New Zealand, shares why Electrify is so important, why 83 percent of venture capital goes to male founders, and why we need to work together to get women founders front and centre of innovation.

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Can you tell us about the challenges women founders face in securing funding in NZ?

Globally, 83 percent of VC funding goes to male founders, 15 percent to mixed-gender teams and a measly two percent to female founders. This disparity is reflected here in New Zealand, too.

This isn’t just about access to investment. It means that men are primarily shaping our future world, and that’s a problem for me. 

We need women to have equal opportunities to choose the problems requiring solutions, drive innovation and economic growth. But guess what? That won’t happen until women are in the room.

Right now, they show up looking for investment, but the network isn’t there to support them. There’s not often another woman in the room with permission to say, ‘Oh, I know her. This is one to back.’ 

It’s a man-get-man world right now, and it has to change.

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I get the feeling, especially from today at Electrify, that community and role models are especially important.

Absolutely. Role models are everything. When women see other women smashing it in the startup world, it lights a belief and a fire under them.

I just spoke to a woman who came to Electrify last year, and changed her entire business model so that her venture could become scalable and potentially global. This kind of reset on what’s possible and achievable made me want to cry. 

At the Ministry of Awesome, we see firsthand how sharing success stories can inspire and mobilise a community. When women support other women, we can harness that powerful community energy and change the game.

Don’t get me wrong, men are great and are building excellent things here in New Zealand. What stands them out is they tend to think bigger than women straight off the bat because globally they see thousands of guys doing it. That's not the case for women founders and too often you’ll find that women entrepreneurs aren’t always thinking global and world beating. We want that to be the default mindset for our Kiwi women entrepreneurs. 

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What are the key challenges in scaling startups, especially for women?

Scaling a startup is no walk in the park. It’s like tackling an Ironman triathlon. The use of man in that sentence is not lost on me. 

Women face unique hurdles, from securing funding to breaking into male-dominated networks. But let’s be clear: women are resilient and unstoppable.

Every event we host, like Electrify, we see more women rising to the challenge and pushing boundaries. It’s not just about breaking through the glass ceiling; it’s about shattering it completely and clearing the way for others.

Women can scale mountains just like men – they just need the right tools, the right support and the right opportunities. And that’s what we’re here to provide.

We’re not just aiming for equality; we’re aiming for a revolution in how we support and empower women entrepreneurs. We have 2400 founders in New Zealand and that puts us behind on the world stage. We need over 5000, and we need a fair chunk of those to be women. 

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How can we address the funding gap for women founders?

Forget waiting around for VC crumbs. We need to think bigger and bolder. We need to explore every funding avenue available.

I love how Angel investors tend to recognise and believe in the power of women-led businesses. It’s about creating robust platforms that connect women founders with these investors, fostering relationships based on mutual respect and shared vision.

Women shouldn’t just be asking for funding, they should be demanding it and getting it. We need to shift the narrative from women being a ‘risk’ to being seen as a valuable and necessary investment.

It’s high time we built a network where women can confidently pitch their groundbreaking ideas and secure the funding they deserve. 

This isn’t just about closing a gap; it’s about opening up a floodgate of opportunities. The way the world works is different for women, so we need to enable the world of startups to work for them, not against them.

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Why are events like Electrify so important for women founders?

Electrify is a catalyst. Founders need a village, and events like Electrify create a safe space where women can come to connect, learn and be inspired. It’s not just a conference, it’s a movement. 

These events provide a platform for women to share their journeys, challenges and victories. They can see what’s possible, learn from each other and build powerful networks. 

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You have extensive US experience. How does the entrepreneurial spirit in New Zealand compare, and what can we learn from it?

Let’s be real – New Zealanders can be a bit too humble. The US thrives on ambition and boldness, and we need a dose of that here.

In America, there’s an unshakeable belief that you can achieve anything. I grew up thinking I could be whatever I wanted to be. We need to cultivate that same energy. 

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Do you see generative AI as having potential for women and the broader New Zealand economy?

It’s nothing short of revolutionary. We’re standing at the edge of a transformative wave, much like the early days of the internet. This tech is set to open doors we don’t even know exist, creating mass opportunity. 

For New Zealand, embracing this innovation is not just an option; it’s a necessity if we want to stay competitive on the global stage.

AI can help us drive a brighter, more inclusive future, and if women help lead the charge, they can ensure the tech serves a broader, more equitable purpose.

Imagine a world where the diverse perspectives of women help shape its development and implementation, leading to better outcomes for us all.

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What is your vision for the future of NZ startups, especially for women?

I envision a New Zealand where women are at the forefront of innovation. 

We need to raise our ambitions and lift each other higher. An inclusive, innovative ecosystem is crucial for our global relevance. 

Let’s encourage more women to dream big, pursue bold ideas, and provide them with the resources they need for success.

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‍This story was brought to you by the Ministry of Awesome. We would love to hear your thoughts. Join the discussion here. ‍