Arizona

50 /50 in entrepreneurship in Arizona would add 91,000 more jobs and $105.2 billion

to our local economy. - Datos, AZHCC 2016

- U.S. Census Bureau; generated by Melissa Kovacs, FirstEval

Innovation and technology firms are increasingly looking at DIVERSITY as a key factor in determining where their

organization will grow.

Showing leadership on diversity will allow us to attract and retain the top

talent in the country.

There is a growing body of research that showing DIVERSITY is

a key factor in building strong entrepreneurial ecosystems.

Many national rankings are incorporating diversity as a key factor.

And we are already seeing the affects...

In 2015, Phoenix fell 2 spots in the Kaufmann StartUp index from 12 -> 14

10 of the 12 cities above us are located in the top 5 states for growth in women business ownership.

Relative to other states Arizona is under-developing the fastest growing population of entrepreneurship in the

country.

Women

American Express Open State of Women Business Owners, 2016

Other states have acknowledged gender bias in business and have

develop strategies to give everyone an equal opportunity:

Already we are feeling the effects….

National Research

Between 2002 and 2012, the number of women-owned

businesses in the U.S. increased

at a rate of x 2 1/2

the national

average.

- McKinsey Institute, 2016

Benefits of Women Owned Businesses

• Women entrepreneurs tend to treat their employees better and give back to their communities

(Criterion Institute, 2013)

• Women entrepreneurs have higher levels of innovation than their male counterparts

(Harvard Business Review, 2013).

• An increase in the number of women in business leadership positions is correlated with increased business returns and payout ratios. (Kaufmann Foundation, 2015)

Successful startups have 2x as many women in senior roles than unsuccessful companies.

- Fortune, 2012

Benefits of Women Owned Businesses

 Gender is the most powerful

determinant of how we experience the world.

Unconscious gender bias refers to the information, attitudes, and stereotypes that affect the way we process information subconsciously.Research has shown unconscious gender bias to affect access to capital, mentors, entrepreneurial programs and networks.

The OpportunityHow do we position PhXX as THE innovative leader of entrepreneurship in the country?

How can we remain competitive with the other cities and retain the largest-growing

demographic graduating from our universities?

How can we ensure that Phoenix startups are x2 as successful and have 12% higher revenue?

The Answer Is Women – Women Business Owners To Be Specific.

“Women-owned businesses make only about 25 cents for every dollar their male

counterparts earn.” – Economic Policy Institute

All Male Non- Hispanic Female

All Female Hispanic Female

$0 $100 $200 $300 $400 $500 $600 $700 $616

$156 $132 $50 Th

ousa

nds

Arizona Sales Receipt Gap

Thou

sand

s

All Female

Effect of Closing the Gap in Arizona

All Male

Effect of closing the gap in 2015

GSP would have increased by

$105.2 Billions, 36% of GSP

in 2015 ($295.5

Billions).

$616

$132

$484

CLOSING THE GAP IN AVERAGE RECEIPTS PER

INDIVIDUAL BUSINESSES

Procurement and Certification

The Solution

Empowered PhXX100% community-owned and self-

organized. Meaning no one person or organization runs it —

everyone contributes through action.

Plus many more…

What Is Happening Locally

Empowered PhXX is an innovative model of community economic development that

brings together diverse community stakeholders who serve female

entrepreneurs. Providing stakeholders with:

• In-depth, strategic, roundtable discussions on key issues.

• The latest research, data and national trends on female entrepreneurship.

• Leveraging collective strength to execute initiatives that address significant challenges in the local entrepreneurial ecosystem.

Local Lessons in Research

• You can't "pink razor" entrepreneurship programs, 

• Women require unique tools and solutions 

• Strategic marketing supports and provides momentum

• Peer groups and mentoring need to be supported  

Goal: Advance the entrepreneurial ecosystem in Phoenix for women to grow successful businesses through increased connection, communication and access to effective business building resources.

Objective: Increase Phoenix women-owned businesses’ profitability and growth, leading to a 10% increase in jobs created by those businesses over the next three

years.

Thereby, establishing Phoenix as a national leader in the creation of successful women owned businesses.

That 10% increase represents 91,000 additional jobs in PhXX in 3

Years

• Action Initiatives that address systemic obstacles towards the growth

• Strategically Promote the economic impact of women owned businesses

• Research and Data to encourage evidence based decision making and increase accountability on effective economic development for diverse populations.

• Community Engagement building a local brand for Phoenix and giving the diverse women business owner stakeholders the ability to participate in a single voice. This is PhXX .

Empowered PhXX strengthens the entrepreneurial ecosystem through core strategies:

Empowered PhXX Member Profile Our select mailing list goes out to over 200 of the Valley’s top stakeholders. We hold an astounding 53.3% open rate and 10.3% click rate.

Our advanced communication strategy including bi-monthly blogs, emails, social media and podcasts reach over 5,000 engaged viewers monthly.

Regular Participants include:• Leadership from economic development agencies• Top women business networking organizations• Established women business owners Non-profit

professionals• Corporate employees

Empowered PhXX participants are trusted advisors, service providers

and membership organizations.

Our members reach to over 30,000 of the women business owners in

the Phoenix metro area.

Women Business Owner Profile• Has on average $1.1 million in total net

worth• Has a college degree or higher• 71% say they will grow within the next

year• 78% of women business owners volunteer

regularly• 86% say that they will go to business

colleagues, friends or peers in order to make business decisions about products or services for their company

Accomplishments to Date

Since August 7th • 6 Group meetings, a mailing list of

leadership from 200 stakeholders, over 200 one on one meetings

• Developed a regional goal.• Started a map for resources and

stakeholders.• Researched all existing data on WBO

in Phoenix and created an info graphic

• Developed 3 key action initiatives • Participate survey

Infographic

Comprehensive Research Analysis

Reviewed National Best Practices

Developed a Visual Ecosystem Map

Procurement and Certification

Launched an integrated communication initiative to unify PhXX

diverse partners supporting women business owners.

#PhXX

Research Findings

Lessons Learned

New York:Strong research and data makes efforts

more effective 

Lessons LearnedBoston: Government leadership with a strong support campaigns can change the culture and

elevate the discussion.

Lessons LearnedIowa

Ranked 50th in 2012 Grassroots efforts, diversifying existing

services and increased collaboration can have a dramatic effect.

#THISisPhXX

What is next?Phoenix’s largest market research and communication campaign of women

business owners to date.

Surveys Focus Groups Report and Communication

Get Involved• Attend the next Empowered PhXX

Meeting

• Post on social media using #PhXX

• Sponsor an action initiative