On January 30, the Rutgers University Foundation and the New Jersey chapter of Golden Seeds (NJ Golden Seeds) hosted the Golden Seeds Angel Investing Forum at the Zimmerli Art Museum on the College Avenue campus, according to an article by NJBiz.
The partnership aims to combat the disproportionate underfunding of women-owned businesses and startups, the article read. Funding for women-led enterprises currently accounts for less than 3 percent of venture capital funding projects, according to an article by Harvard Business Review.
One proposed solution to this funding disparity is the involvement of angel investors, who provide capital in exchange for partial ownership of a business. NJ Golden Seeds is a state-backed program under the New Jersey Economic Development Agency (NJEDA) that provides investments centered around businesses with women in executive roles.
"Through collaboration with the Garden State's leading research universities, Golden Seeds is ensuring the next generation of female founders has the resources and support they need to grow," First Lady of New Jersey Tammy Murphy said in a press release.
Kathleen Coviello, the chief economic transformation officer for the NJEDA, discussed the systemic obstacles women face as entrepreneurs. She said in the release that cooperation between higher education and NJ Golden Seeds is helpful in opening opportunities for women to succeed in the field.
Other speakers at the forum that took place on January 30 include Irene O'Brien, the vice president of central fundraising and engagement for the Rutgers University Foundation, and Deborah Pérez-Fernández, the executive director of technology transfer at the Rutgers Office for Research, according to the release.
"The Rutgers researchers who presented at today's Golden Seeds Angel Investing Forum are emblematic of the amazing work being conducted across the Chancellor-led units, and the Office for Research is proud to have supported them in their entrepreneurial efforts," Pérez-Fernández said in the release.