How women founders in tech forge their path to success | EY

Be adaptable and persistent

When Christi left the intelligence services field, she questioned whether her unconventional skills in unarmed combat and lock picking could be of any use in a commercial environment: “I bought a computer, not knowing where to switch it on,” she laughed. “I had to totally reskill myself, but I knew this would be a way to apply my security skills in something new and innovative.”

For women entrepreneurs who aren’t ready to completely reskill yet, Arlene suggested taking small steps to reach their goals: “If you’re good at administration, then look for a project or program management role,” she said.

While reskilling and upskilling are important in gaining entry into a new industry, these steps are only the beginning. “Overnight success is a five-year journey,” Christi said. Neetu agreed: “There will be many challenges along the way, but my advice is to believe in the three Cs: confidence, can-do and courage. You need to stay very persistent.” 

In addition to adhering to the three Cs, women entrepreneurs need to focus on differentiating themselves and their businesses to enter into new industries. For instance, Arlene and Lonye confided that it wasn’t always easy getting in front of new clients in the defense industry. Recognizing this, they took a different approach: “We realized the government agencies weren’t meeting their goals for working with small businesses or women-owned companies, and that became our [unique selling point].”

The innovative thinking and persistence that helped propel these entrepreneurs are also crucial for women founders who seek funding, which can require significant sacrifices early in the entrepreneurial journey. For example, Christi once took out a bond on her house to pay her staff. And according to Neetu, when she started NITS Solutions in 2009, potential investors were not convinced: “At the time, nobody knew about data analytics. I knocked on doors, but they did not open for me. Then, I knocked on my angel investor’s door: my husband. He invested.” While Neetu and Christi were very fortunate to have these resources at their disposal, self-financing and assistance from family and friends aren’t the only path to funding a startup.