Nellie Kroes, Commissioner for Digital Agenda of the European Commission discussed with a group of MEPs (Members of the European Parliament) about the opportunities related to the digital economy and how not to exclude women.
“I want to get “girl power” into ICT and technology – and by “girls” I don’t just mean the young, but also the young at heart!” she wrote in her blog.
Read her post here.
Cranfield last week presented to David Cameron the 6 Month Interim Davies Report on Women on Boards.
Since the first Davies Report numbers have slightly improved with 21 new women appointed.
Download the report here: http://www.som.cranfield.ac.uk/som/p1087/Research/Research-Centres/Centre-for-Women-Business-Leaders
Our membership has always been wide-ranging in terms of professional background, including women from the corporate world along with entrepreneurs and independent professionals.
This presents a challenge in structuring our activities in such a way that we cover all of our members’ needs. When we began our mandate in 2011 the willingness to put a special focus on the specific needs of existing and potential entrepreneurs was an objective shared by the incoming PWA Board, given that our activities had traditionally been less concentrated in this area.
That is the reason why we have three specific events this fall targeting our entrepreneurs, be they budding or full-fledged:
This is only the beginning. There are a number of new special programs and events to come in 2012!
After a very busy Spring and, hopefully, a relaxing and energizing holiday, we are back to work. Before focusing again on our work we believe it’s important to summarize the most important activities and initiatives that have been organized in the past months and what is still to come.
In the first 7 months of 2011 we have focused on our regular network activities as well as our well-established special programs. We have:
In addition to the above, our Professional Development Director Valerie Ryder launched the skill building workshop series, with access limited to maximum of 12-15 attendees for a 2 and a half hour meeting focused on very specific topics. Three workshops were held before summer, two more are expected in the Autumn. Our Autumn workshops will focus on entrepreneurs:
If we look at the Federation level, as you know our European Platform is undergoing major improvements (and your feedback is always welcome!). In order to take advantage from this powerful resource, remember to:
As a Board we try to pursue two parallel and complementary goals :
Given the fact that we are all volunteers and our willingness to make an impact implies a lot of time and energy, we would like to take the opportunity to launch a call to action: put yourself forward for a board position and/or as external support to our board. A wider active support to the Board would allow PWA Milan to provide more initiatives and opportunities!
We hope to meet you in the next months at our events and we wish you a successful and interesting Autumn.
By Martaeleonora Paiar
This is the first in a series of interviews of outstanding women, who will share with us their experiences and advice.
This month features Francesca Fiore, Director of Terminals for Southern Europe at Vodafone and member of the Vodafone Senior Leadership Team. Ms. Fiore is responsible for managing the Terminals business (i.e., mobile phones and other electronic devices) for Vodafone in Italy, Malta, Greece, Albania and Romania. Specifically, her focus is in relation to the selection of the portfolio of devices, the development of their commercial offers and the go-to-market activities. A Harvard graduate, she is also responsible for the implementation of strategic and operational integration in Southern Europe for Vodafone and for strategic projects at the Group level (e.g., negotiation of the iPhone 4 contract, launch of the new DSL modem). For more details of her biography, you can click here.
PWA: Francesca, could you please share with us the skills that you have found to be your most valuable ones?
Francesca: I believe that my most valuable skills are energy, ambition, commitment and a positive attitude towards life that helps me to let things happen. I have always been very independent and active during my studies, showing a great deal of interest for extracurricular activities. For example, I worked as a market researcher during my university time and understood right from the beginning the importance of networking and listening to people with different backgrounds and experiences.
These skills have been partly inborn, partly nurtured by a great deal of empowerment from my family–I have to thank them for their support. They also taught me to be open minded and gave me a passion for travelling. My skills also come from my education and from what my first boss taught me. He always supported me in my professional growth and gave me plenty of trust and important advices.
PWA: Which skills are the ones that have helped you the most to succeed in business?
Francesca: Among the skills that have helped me to succeed in business, I would definitely count a good understanding of the people surrounding me, to include their fundamental values. From this I try to provide good management and a conducive working environment. As a manager, relationship skills are very important in order to create quality work.
Moreover, I could also count as one of my most significant business strengths my energy that helps me to focus on different problems and solve them.
Analytical skills were [more] important in the first stage of my career. These skills serve to the extent of gaining credibility with an audience [e.g., management, clients]. In fact, in order to be credible, a manager should present facts which are justified by figures.
PWA: How important do you think is the ability to network?
Francesca: I think that the ability to network is extremely important: first, you can interact with other people and gain insights from them and build on their responses and advice. In fact, surrounding yourself with people of various ages and backgrounds can be a life-enriching experience that can enable you to be able to make better and weighted decisions. Second, you could even find role models by networking with senior and successful people. Last, but not least, networking helps you to stand out in the crowd and be remembered, so that you will come to mind when an opportunity arises.
Networking has to be moderated and managed carefully. Also, it is healthy to be part of more than one networking organization. My personal advice is to look after a network with something that binds the participants together, instead of being part of networks that are too large or generic–in this case, the added value could not be perceived.
PWA: What about the ability to network with other women in particular?
Francesca: It is crucial. But, in my experience, women are not good at helping each other: we say that we would like to help each other, but the reality is different. We do not expect to get help from other women, because every woman is seen [by the others] as a potential competitor.
PWA: Which suggestions would you give to younger professionals to establish a network that could help them to enhance their professional career and make the most out of it?
Francesca: Nowadays the Internet can be a great help in finding new groups and making new contacts.
So, at first, you should surf the web and choose carefully which network you would like to be part of.
Then, you should think of using other available resources that you would never think to use. For example, don’t feel sorry for yourself if you don’t have a vast and established network. Instead, try to ask a more senior colleague for concrete advice.
To make the most out of a newly established network, I think you should have someone that could act as your role model. Therefore, it is important to find a role model who would be approachable for you–not with too high of a profile or inaccessible. For instance, you might consider the professor that helped you developing your master thesis.
PWA: What is your strategy to achieve a good balance of work and home life? Are there any golden rules you would like to share with us?
Francesca: Good stress management, valuable people who can help you, and to delegate–you are never going to make it alone.
I have only two golden rules: to choose carefully your priority and not to think in stereotypes. In my case, my first and only priority has been work until I was 31 years old. Then I chose to reorganize my life, allocating subsequently more and more time and space for myself, my partner and my family.
PWA: How do you cope with stress?
Francesca: I don’t stress myself. I learned how to cope with stress by being positive and not giving a damn. I can do that because I think that there will always be another chance. Additionally, I learned to channel adrenaline. Only one thing is able to stress me now: when I know that my children are ill and I don’t have the resources to solve the problem–for instance, I’m not able to speak with the doctor or not able to be present physically–then I’m stressed. Otherwise, nothing stresses me.
PWA: What suggestions or hints could you share with us about minimizing stress?
Francesca: My suggestion is to think that you will always be given another chance and that life is not all about succeeding. There will always be some failures in life.
Remember that you are not accountable for everything and that you do not have to take everything on yourself. Normally, women tend to take every problem 150% on themselves. This is not a good approach.
PWA: Based on your experience, what would you suggest to younger professionals aiming to develop their careers?
Francesca: Abandon every stereotype and dare to be yourself with a bit of bravery.
Deloitte together with Fondazione Marisa Bellisario, Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili, Egon Zehnder International and PWA Milan has organized an event entitled “Le quote di “genere” nei Consigli di Amministrazione e nei Collegi Sindacali. Un’opportunità di crescita per tutti”.
The event will take place on July 11th at 16 in Rome at Palazzo Marini, Sala delle Conferenze della Camera dei Deputati.
If you wish to know more about the agenda of the event and how to register, please click here to download the brochure.
Ready-for-Board Women Dossier 2011 opens to Academic and Management profiles
by Silvia Siliprandi
93 new names add up to the Ready-for-Board Women list drafted in 2009, reaching a total of 165 women selected by PWA Milan and the Advisory Board as full potential new candidates for Boards close to their renewal.
PWA Milan’s President, Monica Pesce, greeted the crowded audience that took part to presentation of the second edition of the RFBW list in Assolombarda, asking the RFBW in the room to stand up and collect the excitement and loud applauses of the guests. A touching and powerful gesture that followed the presentations of the Advisory Board Members.
Maurizia Iachino, partner of Key2people and Governance Practice Leader, introduced the audience to the criteria used for the selection: experience, professional roles with high management responsibility, skills, seniority, reputation, internationality, commitment at Associative and Federation level (see her presentation here).
Marianna Carbonari, Senior Associate Spencer Stuart Italia, explained the value of the project, based on a pragmatic approach and objective criteria, therefore granting an excellent and reliable talent pool that can finally and undeniably prove Italian women have what it takes to enter Board rooms (see her presentation here).
Simona Cuomo, Coordinator of the Diversity Management Observatory at SDA Bocconi, helped the guests picturing the typical profile of a “Board member” in order to underline the challenges that a woman faces to match with a traditional and standard model. Focusing on the added value of diversity, Cuomo suggested the best answer might be widening the skills and career profile a professional should hold to access a Board (see her presentation here).
Livia Amidani Aliberti, founder of Aliberti Governance Advisors and expert of corporate governance, highlighted the opportunities and the risks implied in the legislation likely to be approved and effective very soon. Hoping that even small boards will make the best efforts to include women regardless the unfavourable math (round down of the quota calculation), the new legislative environment is however only a starting point, it is the market instead, and its competitive rules, that should create the best conditions for women to excel (see her presentation here).
Women’s presence shouldn’t only be measured in terms of numbers, but also in terms of key positions within professional networks. Romina Guglielmetti, lawyer and expert of corporate governance insisted on the importance of looking for the best talents, regardless the gender, as a way for companies to ensure growth and sustainability. The RFBW list demonstrate that there’s an entire talent pool of professional ready and willing to serve economy (read her speech here).
The second part of our summary dedicated to the RFBW event will focus on what has been discussed by our panel.
Radio Colonia recently interviewed PWA Milan President Monica Pesce and RFBW and Bocconi Professor Paola Profeta on the impact of quotas on our economy and society.
Listen to the interview (in Italian) here.
Venture Capital: Gambling or Earning – Dream or Reality?
What is Venture Capital?
Venture capital is financial capital provided to early-stage, high-potential, growing startup companies. In addition to angel investing and other seed funding options, venture capital is attractive for new companies with limited operating history that are too small to raise capital in the public markets.
If it wasn’t for venture capital (and great entrepreneurial teams), the following companies would not exist: Google, Intel, eBay, Apple, Yahoo, Genentech, YOOX, Starbucks, Privalia, twitter, facebook.
Almost all the new great US companies are venture backed
Venture Capital in Italy
In Italy, the Venture Capital is still at an entry level. €115 M only have been invested. Italy comes long after other European countries such as France with €680 M or UK with € 1.28 B venture capital investments.
dPixel & Alessandro Santo
dPixel is a young company, which is looking for attractive ideas and business solutions for the web world. Alessandro Santo is one of the dPixel entrepreneurs and managers team members
Tips and Tricks to Get Funded
dPixel receives around 500 projects per year, meaning that it evaluates around 2 projects per day. Which are the selection criteria?
The written rules say that the “standard” documentation is needed including a convincing business plan and back up data, as well as a venture capital pitch. Because they are written rules, almost everybody provides these documents.
The unwritten rules (obviously more important and those making the difference) include passion for the business idea and its execution, strong commitment, a cohesive team, and a trusted and experienced advisory board. Furthermore, a deep study of the market size, and more specifically of the addressable market size is determinant. Last, but not least “the enemies”: do not estimate the competitors!
The essentials of trips and tricks can be summarized as “ideas worth nothing, it is all about execution”.
Women and Venture Capital: Just a Dream?
The reality says that less than 1% of the received projects are proposed by women. Among the causes, some hypothesis mention that women prefer safe jobs or women are less competitive than men and cannot sustain the hard life of a start up. Furthermore, in this case we talk about Web technologies, where the percentage of women is significantly less than men’s.
For example, making a quick survey in an IT department of one of the universities in Milan, the numbers say that assistant professor women are 10% of the total number of professors, associate professor women are 10% of the total number of professors, while full professor women are 4% of the total number of professors. The situation is better for the PhD students, where 20% are women. The truth is that in the IT domain there are significantly fewer women than men, but definitely more than 1%.
In the early ‘900 women didn’t even work outside their homes. Women got the vote right in 1946 in Italy, and now are actively involved in politics. Web technologies are quite young, so just give women several more years to concur also the Venture Capitals.
It is also worth mentioning that Mashape has looked for Italian Venture Capital with no success. So, it moved to Silicon Valley and the success arrived also in Italy. Instead of conclusions, we can say that also Venture Capital in Italy is young.
Find here the slides presented by Alessandro Santo during the event: “Venture Capital in Italy: An Insider’s View“ and “fail idee che affondano“.
She is Italian, 32 years old, mother and full professor at Caltech. She was included in the annual “Brilliant 10″ list published by Popular Science.
Find the list here.
