While International Women’s Day (IWD) has a rich history dating back to 1911, it’s not confined to any one country, group, or organisation. It’s a global day of action and celebration for everyone committed to achieving women’s equality.
This year’s official theme for IWD, “Inspire Inclusion,” underscores the imperative of inclusivity in advancing gender parity. It urges the breaking down of barriers, challenging stereotypes, and cultivating environments where the contributions of all women are recognised and valued, especially those from marginalised backgrounds.
Furthermore, the United Nations has issued a call to action to “Invest in women: Accelerate progress,” as an additional theme, aimed at accelerating progress towards addressing the annual $360 billion deficit in gender equality spending.
In that spirit, today we celebrate by speaking with Alexandra Smith, Co-Founder and Partner of FuturePlus, part of The Sustainability Group. FuturePlus is a a sustainability management and ESG reporting platform that helps organisations – particularly SMEs – understand, manage, and measure their sustainability ambitions.
In 2019, Alexandra, along with her co-founder Mike Penrose, launched The Sustainability Group with the aim of enabling organisations to make a positive impact on society and the environment, while also enhancing their diversity, value, and appeal to both customers and investors.
Together, they bring a combined experience of 42 years to the field of sustainability, and in 2023 were shortlisted for Sustainability Entrepreneur of the Year.
Read next: FuturePlus: Empowering SMEs towards sustainable growth
Alexandra, tell us what International Women’s Day means to you?
International Women’s Day (IWD) is special to me as it symbolises a collective celebration and recognition of women’s invaluable contributions, resilience, optimism, and achievements. It’s a day to celebrate and amplify the voices and stories of women, acknowledging their diverse roles, struggles, and triumphs.
Historically, the names and stories of many women have been lost or overshadowed, making it crucial to recognise women in all roles and from all walks of life. IWD serves as a vital opportunity to reclaim and celebrate these sometimes overlooked narratives, ensuring that the contributions of women are acknowledged and remembered.
It encourages me to appreciate the countless women who have helped pave the way for progress, and is a time to honour those who inspire change, drive innovation, and contribute significantly to various fields, shaping our world.
How would you describe the message behind IWD?
In essence, IWD is an opportunity for reflection, celebration, and a renewed commitment to advancing the rights and opportunities of all people, particularly women from all races and backgrounds, globally. It is also a reminder that the journey towards equality is ongoing, and each of us has a role in creating a more inclusive and just world for future generations.
By recognising and remembering the diverse stories of women, we contribute to a more comprehensive and arguably more engaging narrative of our history and our future.
How does this year’s theme resonate with you?
This International Women’s Day, we resonate deeply with the theme, ‘Invest in women: Accelerate progress,’ especially considering our journey as a start-up navigating the world of investment and fundraising. As a mixed-gender founder team, we’ve been fortunate to have incredible and supportive investors. However, the stark reality outlined by statistics cannot be ignored.
Despite a record high of 27% of deals going to teams with at least one female founder, all-female teams accounted for only 9% of deals in 2022 and received a mere 2% of funding, demonstrating no progress since 2011, according to The British Bank. In addition, Ada Ventures, Diversity VC and Google Cloud report in 2023 found that of the £6.6 billion raised by UK-based venture capitalists since 2017, a mere £462.5 million was secured by ventures owned solely by women.
Even though there is some progress, the pace of change remains sluggish, highlighting the urgent need to address the systemic issues and promote gender equity in investment.
Our experience underscores the immense value that diverse founders bring to the table. There is an old adage that suggests we fix the problems we face, and by providing women and diverse founders a voice, we not only address challenges, but also pave the way for greater innovation and more successful outcomes.
Beyond fairness, investing in diverse founders, including women, is imperative for supporting innovation and tapping into fresh perspectives. So it is somewhat encouraging to read from The British Bank that 13% of first-time equity deals were awarded to all-female teams, of which 10% went to all-ethnic minority teams and that 19% of all-ethnic minority teams also received first-time investments.
Furthermore, founding teams with at least one ethnic minority founder accounted for 42% of the investment value of first time deals in 2022, an increase from 14% in 2013.
What’s your International Women’s Day 2024 message?
There’s still a lot more work to do! It’s not just about breaking barriers, it’s about unlocking the immense untapped potential that benefits us all. This International Women’s Day, we should all recommit to dismantling barriers, challenging biases, and advocating for a genuinely inclusive investment landscape.
By doing so, we empower diverse start-ups to thrive and open opportunities for more innovative, creative, and sustainable solutions.
