Vanessa Liu, VP of SAP.iO Foundry NY sat down with #BoldBiz to tell us about her company's investments in female founders in early-stage enterprise tech startups. #BoldTV
Posted by BoldTV on Tuesday, July 17, 2018
A little bit about SAP.iO
Although SAP.iO has only just recently appeared in New York, Vice President Vanessa Liu noted that they have started, in fact, four other such incubators in San Francisco, Tel Aviv, Berlin and Paris. But the New York City incubator is unique in that it exclusively “focuses on female founders.” SAP.iO is trying to create an ecosystem of partners in the startup world. Liu claimed that by working exclusively in New York with female entrepreneurs, SAP.iO will be able to provide access to customers and companies that “female entrepreneurs typically do not have access to.”
Why should women join SAP.iO?
SAP.iO is not about “teaching general entrepreneurship.” SAP.iO is primarily for female entrepreneurs who are seeking revenue. This is for those “that are trying to make money and go to market, teaching pricing and the like,” Liu said. SAP.iO provides mentorship, customer intros as well as access to SAP.iO’s technology and venue. The customers, such as Macy’s just as a for-instance, that female founders will gain access to via SAP.iO is unparalleled.
Growth can be the hardest — often unassailable — part of any startup that is trying to succeed, Liu said. What is needed, in large part, is introductions to companies and customers that can bring in revenue for the startup. That is a big part of what sSAP.iO can provide for female entrepreneurs in its most recent New York City branch.
Not only does SAP.iO help female startup founders develop an extrinsic profitable community, but it also creates an inward-looking community of the startup founders themselves. According to Liu, SAP.iO “has 91,000 people at SAP.” There are also “over 50 people that are actively mentoring these [female entrepreneurs.]”
There is major importance to working with emerging startup founders — especially female ones who might tend to have less opportunities — and so more and more companies, according to Liu, are beginning to recognize this and “play ball” with SAP.iO, and not begrudgingly either. Liu said that customers are becoming more and more “excited to work with female-led companies.” As a final note, Liu mentioned how the name SAP.iO was created. She says that there is a small I and a big O in the name because “with [just] a little input, you can get a lot of output.” With just a little help, the results can be transformative and amazing.
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