Female Founders Pitch Summit Disrupts Financial Industry
When Rose Vitale decided to create the Female Founders Pitch Summit, she wanted to be different. Her goal is to help more women business owners. Because of her mission and vision, Vitale has made key decisions that are not known in the venture capital industry.
What Is the Female Founders Pitch Summit?
The Female Founders Pitch Summit is a one-day event where women who are looking to expand and need funding will come to San Diego to meet investors who will provide them the funding they need. The event is expected to dole out millions in venture capital that promises to change lives forever. It is more than an event. It will start a movement to change how women get funded. It takes place May 21, 2021, at the Bayfront Hilton in San Diego.
Although the event sounds like any other women entrepreneur conference, there are key differences. These differences are disrupting the financial industry and has people commenting and wondering how it will work. Here are some ways the Female Founders Pitch Summit will change lives and start a movement.
1. No Admission Fee -
National conferences usually have an admission fee. The fee covers a portion of the budget for the event. However, Vitale made the decision from the beginning that she would NOT charge participants to come to the event. The investors, female founders, the media and speakers will be attending for free. They will have to cover their expenses. For a women business owner who is struggling to meet expenses, being able to come to an event without actually having to pay an admission fee is a huge cost-saving measure and will help them get the funding they seek. The lack of admission fee makes this summit unique and more exclusive, which will inspire investors to attend.
2. No Equity Requirement -
When founders receive funding, they will not have to give a portion of their business to the investors. The Female Founders Pitch Summit is not recommending equity and part of the funding agreement. This will allow female founders to receive the money and still be in control of their company and its products. It also will allow them to use the funds whichever way they see works best for their company. In today’s venture capital world, equity is usually tied to the funding provided.
3. Personal Capital Commitment -
Vitale has committed at least $500,000 of her personal capital to ensure this summit takes place on May 21, 2021. On the day of the event, she is committed to investing her personal capital in female-led companies. She is expecting a commitment of $10 million provided to women business owners that day from herself and investors. This amount has not been known in the industry for a single day previously. It will change lives and impact the industry. It will start a movement to alter the mindset.
4. No Finders Fee -
Vitale is not going to allow companies to attend that require a finders fee for the funds they provide. These are the middle companies that bring the investor to the female founder. They request about 10 percent of the funding amount. If an investor provides $1 million, the female founder would have to pay $100,000 to this third-party company. Vitale does not approve of this method to help the female founders, so it will not be invited to attend the summit. The funding provided the founders should come without strings attached and extra financial burdens. Otherwise, the summit won’t help them.
5. Sponsors -
– Vitale is reaching out to sponsors who want to commit to helping female-led companies succeed. The sponsorships will cover expenses that Vitale’s own fortune would not. They will be hand-selected and vetted before they will be allowed to join the movement and summit for the day. In other conferences, anyone who wanted to give money to an event would be accepted. The Female Founders Pitch Summit is not going to accept money from anyone. The sponsor has to see the vision, believe in the mission and have the same integrity that Vitale personally has