AI Startups & Venture Capital: Powering the Future of Innovation | WOMENxAI Event Recap

The WOMEN x AI (WxAI) event at The Huddle on the Google's Campus was an electrifying gathering, uniting influential women at the forefront of Silicon Valley's AI revolution.

Organized by Reut Lazo, Jenny Kay Pollock Co-Founders and Co-CEOs of WOMENxAI and Preetha Ram, Managing Partner, INpact Fund and CTO, Pier 70 Ventures. This event provided a goldmine of insights for anyone navigating the complex world of AI, startups, and venture capital. The event was moderated by our amazing community member Holly Uber, Human Centered Technologist, Digital Health Leader, Investor and Advisor.

Demystifying Funding Strategies for AI Startups

One of the most discussed topics was, unsurprisingly, funding. Where do you even begin? The panelists provided a wealth of information on this topic:

Preetha Ram emphasized the importance of strategic timing when it comes to seeking venture capital:

"Don't take VC money until you're ready for it. You have to be ready for it. You start with high level individuals family. You know, friends, that kind of stuff, and then Angels. And when you're ready, then you comfortably see money and everything has losses and minuses."

​Sabira Alloo, Head of Private Equity Partnerships, North America, Google highlighted alternative funding options, encouraging founders to think beyond traditional VC routes:

"There are a lot of good corporate resources... but also convertible notes. I think that that's a really good strategy."

This encouraged founders to explore options like friends and family, convertible notes, angel investors, and even corporate resources.

​Mahak Sharma, Head of Platform Partnerships, Gemini dug deeper into the changing metrics for success. She provided data-driven insights:

"Two years back pre-AI era. The amount of time that a startup would take to reach a certain run rate was about 28 months, and they would do it with $7.6 million of capital. Now that number with AI tools has reduced to $1.2 million of capital for the same burn rate and within 12 months."

This highlights how AI is accelerating growth and reducing capital needs.

Key Takeaways on Fundraising

• Convertible notes can be a great option for early stage funding

• There are more corporate resources than people think

• The AI era is rapidly accelerating timelines

Check out our post on Equity Free Startup Accelerator Programs Every Female Founder Should Know About

The Investor Perspective: What VCs Want

The panel didn't shy away from addressing what venture capitalists are looking for now. It's no longer enough to have a brilliant idea; investors want to see tangible results.

Preetha Ram, shared VCs are no longer investing in back-of-the-napkin ideas. They're looking for:

• Tangible outcomes

• Integration

• Traction

• Bias-aware products that people actually want to use

Sabira Alloo, emphasized the importance of data, noting:

"Data is the new oil, in the AI era."

The key is to know how to collect and extract value from that data.

Empowering Women in Tech and VC

The WxAI event also shone a spotlight on the crucial role of women in tech and venture capital.

Holly Uber, Human-Centered Technologist, shared a powerful statistic:

"We actually are both investors in organization called How Women Invest, and it is there to change this narrative. Which is why I invest in them, we only fund female Founders. That's because we know, unfortunately, VC's only give two percent of funding to female founded companies, even though female founded companies return 35% on investment."

This underscored the need for a shift in funding behavior to recognize and support the immense potential of women-led ventures.

Advice for Founders: Strategic Moves

The speakers offered valuable advice for founders navigating the AI and startup landscape:

1. Know your go-to-market (GTM) strategy

2. Show adoption and prove value

3. Integrate AI thoughtfully into your product or service

4. Understand and leverage your data effectively

5. Build solutions that address real needs

   
   

Sabira Alloo, also shared specific resources available for AI founders:

"Specifically for AI Founders. We offer right now three hundred thousand dollars in Cloud credits, so anything can be related. There's other follow-on checks that can come with that, but also a lot of Hands-on keyboard help, which I think is critical to the next point."

This is a good reminder to check what options are out there! Check out our list of non-dilutive accelerators: Equity Free Startup Accelerator Programs Every Female Founder Should Know About

The Future of AI and Healthcare

Sheetal Inariani, General Partner & Chief Financial Officer, Global Health Impact Network & Funds highlighted that AI is not replacing humans, especially in healthcare. Rather, AI can solve clinician burnout and potentially lead to precision medicine.

Missed the Live Event?

Tune in to the recording on our WxAI YouTube channel.

A Powerful Vision for the Future

The WOMEN x AI event was a vibrant testament to the talent and vision of women leading the charge in tech and venture capital. It emphasized the evolving landscape of AI integration, startup funding, and the increasing recognition of women-led innovations.

As we look to the future, success in the AI and startup world will hinge on thoughtful AI integration, a clear value proposition, and a deep understanding of market needs. The event served as a powerful reminder of the importance of community, collaboration, and diverse perspectives in shaping the future of technology. 🌱 Join our free WOMEN x AI membership to be updated as we release more resources to help you build in the AI era.