Ben Franklin Technology Partners press release:

 The report analyzes what makes high-growth entrepreneurs successful, with a focus on company management, financing,professional challenges and corporate networks. --
 

May 7^th, 2009

PHILADELPHIA, PA (www.winwomen.org) – WIN, Ben Franklin Technology Partners of Southeastern PA (BFTP/SEP) and the Wharton Small Business Development Center (WSBDC) held a reception today to debut the Women-Led High Growth Business Report.  The report was generated from a survey of women entrepreneurs in this region who lead high growth businesses. The survey was designed to find out more about this important business segment, in order to determine what steps can be taken to improve their future success.

This study, one of the first of its kind in the nation, demonstrates the strengths and accomplishments of women entrepreneurs in our region, highlights the factors that lead to successful business growth for women entrepreneurs, and identifies the resources available to high-growth entrepreneurs and approaches that work for these successful women.

The report summarized the results of the survey and a concurrent focus group held last month.  The report was used as a stimulus for discussion at the May 7th reception, where participants provided feedback and analysis of the survey results.  Following this, on May 20^th, WIN will host a CEO Forum where further discussion will be held about the survey findings and implications.

Women are an important driver in high-growth businesses in the Greater Philadelphia area, and represent a significant body of knowledge and experience.  Key findings from the survey included:

• Challenges in financing entrepreneurial businesses remain large.
  
• Despite these challenges, women-led emerging growth companies in our region have successfully raised significant outside capital from investors across the U.S.; on average, over $10 million per company.
  
• Significant knowledge of and use of various financing strategies are necessary to properly and adequately finance a business.  More sources of capital targeting emerging growth businesses are required to create a vibrant entrepreneurial ecosystem in our region.
  
• The majority of emerging growth companies use outside Boards of some kind and value the assistance the Boards can provide in financing, introductions, hiring, partnering, etc.
  
• These ventures and the resulting companies represent significant job creation both within companies directly and through their utilization of components of the entrepreneurial ecosystem (legal, accounting, consulting).  On average, participating companies had 43 employees per company.
  
• Our respondents shared strengths that included vision and the ability to motivate people – both internal and external to their organization.  These leadership traits are key to business success.
  
• Our respondents value networking in the entrepreneurial community.
  
• Our respondents give back to a diverse group of organizations through volunteerism.
  
  

Following a similar study conducted in 1998 by WIN and Ben Franklin, the profound progress made over the last decade was discussed, as well as the new challenges facing entrepreneurial women business leaders.

The reception was held in Ben Franklin’s offices at the Building 100 Innovation Center in the Philadelphia Navy Yard.

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About WIN

WIN, founded in 1996, is an organization of women committed to advancing entrepreneurship in the Greater Philadelphia region.  WIN is the region’s premier organization for women who are leaders of and investors in high-growth businesses, providing education, networking, mentoring, and exposure to investment resources. www.winwomen.org
Contact: Elaine Jones, Elaine.Jones@pfizer.com, 484-945-2108

About Ben Franklin Technology Partners of Southeastern Pennsylvania
Ben Franklin is the region’s catalyst for Stimulating Entrepreneurial Potential.  We invest in innovative enterprises and create commercialization pathways that generate wealth through science and technology. Part of a statewide network in Pennsylvania, Ben Franklin provides entrepreneurs and established businesses with the Capital, Knowledge and Networks to compete in the global marketplace. We have provided more than $130 million to grow more than 1,600 regional enterprises, and are founding partners of The Nanotechnology Institute™ (NTI), Mid-Atlantic Nanotechnology Alliance (MANA®), Emerald Stage2 Venture Fund, and the Minority Angel Investor Network.  Ben Franklin is part of the Commonwealth of Pennsylvania’s Ben Franklin Technology Partnership.    We are Uniquely Ben™    www.sep.benfranklin.org
Contact: Jaron Rhodes, jaron@sep.benfranklin.org, 215-972-6700

About Wharton Small Business Development Center

The Wharton Small Business Development Center (WSBDC), a division of the Sol C. Snider Entrepreneurial Research Center of Wharton Entrepreneurial Programs, was founded in 1980 and is one of 18 SBDCs in the Commonwealth of Pennsylvania. The WSBDC provides free consulting services to entrepreneurs as well as educational workshops for which we charge a nominal fee.  www.whartonsbdc.wharton.upenn.edu