The Diverse Entrepreneurship Scene in Washington DC

One of the most enduring gaps in the world of tech can be seen in investing. No matter how researchers look at the data, it’s clear that most of the investment dollars go to ventures dreamed up by men. Women, and particularly women of color, can be left behind. Without the capital to launch their ideas, women have a harder time getting off the ground and achieving leadership roles in new ventures.

The good news is, that’s starting to change. And somewhat surprisingly, the change is being seen most clearly in the nation’s capital. Washington DC isn’t exactly Silicon Valley, however, it has become one of the best cities for diverse entrepreneurs in recent years. DC is particularly important as a launchpad for businesses run by women.

Why has the city pulled ahead of the pack when it comes to investing in women? There are several reasons. Among the most important is that women in Washington, DC decided to get organized. Women formed their own ventures to encourage investment in their ideas. For example, an organization called Black Girl Ventures hosts competitions where women of color work on their pitches. These events help women see what an effective pitch looks like. The marketing around these events also lets investors also know where to go to hear interesting pitches.

The other reason women entrepreneurs have gained so much, so quickly in Washington DC is that the local government supports them. In 2016, the business community launched The DC Women’s Founders Initiative, to drive growth among women entrepreneurs. Mayor Muriel Bower helped to back this idea with grant money and other forms of support. So far, the initiative is working. Women know there is an audience for their ideas. They’re more optimistic about their opportunities.

Best of all, women in DC are showing that with funding, their ideas can succeed. Recent success stories from DC include restaurants, tech ventures, hair salons, gaming businesses, and traditional brick-and-mortar stores. Women entrepreneurs in DC are very present even in very male-dominated businesses. For example, they own and co-own entertainment venues like theaters, comedy clubs and even breweries. The women of DC have shown that when investment is possible, women can succeed in any line of business.

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