The ieBusiness Podcast meets AwakenHub co-founders Mary McKenna and Sinead Crowely
In the fifth episode of The ieBusiness Podcast, two of the founders behind AwakenHub, Mary McKenna and Sinead Crowely talk to business journalist Cáit Caden.
Sinead Crowley and Mary McKenna are two of the five founders behind AwakenHub, an organisation that mentors and funds women entrepreneurs in the early stages of setting up a company.
The women, along with Denise McQuaid, Mary Carty and Clare McGee decided to join together to support women-led start-ups that often face barriers when trying to get their business to market.
"We often hear that men wear failure as a badge of honour and women wear it as a crown of thorns," Ms Crowley.
Figures released last month by Industry representative body TechIreland highlighted how male-led start-ups still receive a significant portion of funding.
Female founders raised €66m across 16 companies in the first half of the year, which was the second-best performance in the last several years, but the total amount raised was €460m.
The two women spoke with business reporter Cáit Caden in the latest episode of The ieBusiness Podcast, in association with PwC, about the type of companies women are setting up, expanding AwakenHub's presence into Europe and the US and creating a syndicate called Awaken Angels for women at various stages of their careers to invest in several companies through the organisation.
"So if you had €100,000 to invest, and you could only put that into two companies, that isn't as attractive as being able to perhaps sprinkle it around and invest smaller amounts in a lot more businesses, because at the end of the day, it's very high risk" said Ms Mckenna. "I'm not going to say it's like gambling, but it is very high risk."
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