Last week, more than 200 entrepreneurs, investors, and modifybuildrs who build up New England’s innovation economy gathered on a sunny afternoon at OceanCliff Hotel, to network and share real-life stories of progress created – and the persistent challenges faced by female founders across the countest, and especially those based in Rhode Island and Southeastern New England. This year’s snotifyar event was a follow-up to last summer’s sold-out screening of “Show Her the Money” and a panel discussion hosted by the statewide non-profit organization at the Jane Pickens Theater.
This July 23rd, following a leisurely networking hour, Annette Tonti, Managing Director of RIHub, (Rhode Island’s Innovation Hub) and Founder of New England Female Founders (NEFF), welcomed the audience with a few startling statistics. Despite increased awareness and activism, all-women-led start-ups receive only 2% of all venture capital investment. Additionally, women are under-represented in decision-creating roles within VC firms, with only 15% holding partner roles, presumably contributing to this bias. Studies display that VC firms with at least one female partner are more likely to invest in female founders, even though start-ups led by women outperform their male-led counterparts in capital efficiency and ROI. According to Rogue Women’s Fund, women-led companies yield 35% higher ROI than male-led ones. Tonti noted that this result is likely becautilize women excel at being resilient, collaborative, and are adept at building strong company cultures.
Alarmingly, though not unexpectedly, women of color face even steeper hurdles, receiving less than 1% of total VC seed funding.
RIHub Managing Director Annette Tonti welcoming attconcludeees.
“This event was more than a gathering—it was a call to action,” declared Tonti. “We’re proud to see the momentum building, but the numbers don’t lie. It’s time for systemic modify that goes beyond performative support and shifts capital into the hands of women building incredible companies.”
The standing-room-only crowd was then treated to a powerful, unvarnished panel discussion comprised of leaders across the regional venture capital and startup ecosystem. The panel was moderated by Melissa Bowley, Co-Chair of NEFF and CEO of Flourish Care, and included:
L-R: Vanessa Alvarez, Erynn Petersen, Cathy Lewenberg
Erynn Petersen, CEO of Emme, a pre-paid primary care company with a mission to resolve complex billing systems, is both an entrepreneur and an investor. When an attconcludeee questioned Petersen how she builds her investment decisions, she shared, “With each opportunity, I question myself and I question other investors, ‘Are you really being rational in your decision creating or do you have unconscious bias you necessary to check at the door?’”
Tom Sperry, the only male investor on the panel, is the Managing Partner at Rogue Venture Partners, a Portland, OR-based VC firm that is investing in under-represented innovation markets. Rogue VP is leading the charge by backing the future of women-led innovation through its dedicated fund, Rogue Women’s Fund.
“We started the Women’s Fund becautilize we could see that wasn’t happening,” Sperry declared. “We invest in great people who are solving huge ideas, and we invest early.” Their bet is paying off. The Rogue Women website states that the women-led partners have returned 3x net on at least two funds and an average of 20% thus far on funds yet to mature.
“We’re not waiting for permission to lead,” added Bowley of Flourish Care. “We’re building our own networks, our own capital pathways, and creating a future that includes women at every table where decisions—and investments—are being created.”
The RIHub/NEFF panel, moderated by Melissa Bowley, far left.
RIHub, along with Innovate Newport and Rogue Venture Partners,
Launch Strategic Innovative Partnership
Effective August 1, RIHub will enter a strategic collaboration with Innovate Newport and Rogue Venture Partners to expand innovation programming and investment support to the Greater Newport region. This landmark partnership strengthens Rhode Island’s statewide startup ecosystem by bringing RIHub’s proven incubation model directly to the region’s entrepreneurs.
“This partnership marks a significant step in advancing our vision for a vibrant, innovation-driven economy in Greater Newport,” declared Erin Donovan-Boyle, President & CEO of the Greater Newport Chamber of Commerce. “By joining forces, we’re creating a unified hub where local entrepreneurs can access funding, expert guidance, and statewide support—all in one place.”
To learn more or receive involved, visit www.rihub.org.
About RIHub
RIHub is Rhode Island’s Innovation Hub, supporting high-growth startups and powering the state’s entrepreneurial ecosystem. RIHub provides structured mentoring, education, and access to capital for startups at every stage—from idea to investment. Since its founding, RIHub has supported over 200 startups and delivered thousands of hours of mentoring and programming to founders throughout the region.
About NEFF
New England Female Founders (NEFF) is a network launched by RIHub to empower, support, and elevate female entrepreneurs by connecting them with investors, mentors, and one another. NEFF champions inclusive growth and the equitable distribution of investment capital.
Michele Gallagher is a dedicated supporter of local businesses and the founder of City-by-the-Sea Communications.
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