VC 101 with Dr. Lesley Robinson and Host Catherine Gray Ep. 493

Catherine Gray: Welcome to this week's edition of Invest in Her. I'm your host, Katherine Gray, founder of She Angel Investors and co-founder of the She Angels Foundation. And as many of you know, executive producer of Show Her The Money, our award-winning film that's now on Amazon and Apple TV. So, if you haven't seen it in person, we hope you catch it there.

Catherine Gray: Meanwhile, we have another extraordinary guest today talking about my favorite thing, which is female founders, and how do we get them education and funding and community. And this guest today is the champion of that. She is Dr. Leslie Robinson, the CEO and founder of Embolden Education and co-founder of the Ayanna Foundation.

Catherine Gray: Let's do it! Hi, Leslie! Welcome to the show! Lesley Robinson: Thank you, I'm so happy to be here.

Catherine Gray: Same, same, same. And, you know, I've loved working with you on this project that's near and dear to our hearts, which is launching Show Her The Money's VC101 educational experience at the colleges. Catherine Gray: And, it's, I know, an endeavor of yours that you've been working on for many years, and you're a dynamo in this arena. So we're so happy to be teamed up with you on this project.

We have to educate people at a younger age about venture capital, right? Lesley Robinson: Yes, I mean, I think that I always focus on the next generation of founders, but the next, next, next generation of founders, too, right? We could go early in terms of the education that is out there, and so, so appreciate the opportunity to do that alongside the Show Her the Money movie, and family, really. Catherine Gray: Yeah, and so we have lots of colleges that are getting started with this program, and we're super excited in the fall to be attending GCEC, the Global Entrepreneurship, what is it?

Lesley Robinson: Global Consortium of Entrepreneurship Centers, that's a hard one, so yes, ABC for short. Catherine Gray: We're excited about that, because entrepreneur centers from all over the country attend this event, right? And I noticed that you also got the Outstanding Emerging Center Award there at GCEC not too long ago, so congrats on that. Lesley Robinson: Thank you!

Yeah, that is, definitely an award that's near and dear to my heart. Proves the hard work of educating this next generation entrepreneurship education and everything that that entails. Catherine Gray: Yeah. Catherine Gray: Well, let's talk about how lucky we are to have you developing our course, because your background is amazing in this arena.

So, first, let's talk about the fact that you're currently the Associate Director for the Institute of Entrepreneurship at Colorado State University. You also were the founding director of the Kendra Scott Woman's Entrepreneurial Leadership Institute at the University of Texas. Catherine Gray: And you helped launch the Women's Entrepreneur Leadership program at University of Tulsa, where you and I just visited with our program, and let's talk about all three of those things that you're doing in this space, because you really eat, live, and breathe.

How do we, you know, get women, founders. Catherine Gray: to get funding, to be educated, to find community. This is your wheelhouse. Let's talk about how you've been doing this for years, and about those three things that I just mentioned.

So, let's start with Kendra Scott's Women's Entrepreneur Leadership Program. Catherine Gray: How did that get started? And tell me a little bit about that program. Lesley Robinson: Yeah, so we call the Kinders Scott Women's Entrepreneur Leadership Institute, KSWelly for short, so at the University of Texas at Austin.

Lived in Austin for 9 years, and really was getting integrated in the ecosystem. Great, healthy, wonderful ecosystem for women founders. Lesley Robinson: in Austin. And through some work that I was doing with a French organization called INCO, ended up writing a white paper on Lesley Robinson: women in tech.

And so, with that, really got to know some of the movers and shakers in Austin, and that white paper was actually, through the Chanel Foundation, so really understanding some of the challenges and barriers that women face going into, tech. And so, of course… Catherine Gray: Wait a minute, women have challenges and barriers? Lesley Robinson: Yeah. Well, and what's interesting is I actually always love to focus first and foremost on the strengths and beauty that women bring to business or the industries that they are in, and so to take kind of more of that, challenges and barriers, it's important, though, to tell the story and really then to understand the landscape of what it is that we need to Lesley Robinson: be moving towards to be able to make progress, and so… Lesley Robinson: through the work with Chanel Foundation, really got deep dive into the gender and systemic barriers that exist for women in all industries, but when we think about tech and we think about how closely that aligns with startups and entrepreneurship, it really then became, a moment of recognition when the position posted at UT Austin that my love of higher education and students, which has been my whole career.

Lesley Robinson: and then focusing that with a gender lens, and then entrepreneurial leadership. So I studied leadership. It really was a perfect combination of all of the areas that I love coming together. And so, Institute was founded in 2019 and launched in 2020.

Really, first and foremost, was focused on empowering women to lead and encouraging the world to follow. And I just was privileged to be able to build a student advisory group in an Lesley Robinson: It's an amazing team to move that mission forward. Catherine Gray: I love that. I love that.

And, you know, we all know Kendra Scott and what an amazing entrepreneur she is. Catherine Gray: And so, great that she's created this program, and that you were the one to actually get it going and set it up. And now, you are at the Institute of Entrepreneurship at Colorado State University. Tell us a little bit about that.

Lesley Robinson: Yeah, so, I went to Colorado State for my PhD and studied entrepreneurial leadership, and so got involved with their Institute for Entrepreneurship creatively as a graduate assistant a couple years ago, but love the mission that they bring to entrepreneurship education, which is a zero-barrier Lesley Robinson: access lens, and I think that entrepreneurship is empowerment, and it's more approachable than people think, and so to be able to have that of the mission of I4E, is what we call it for short, really align with the values that I see for entrepreneurship education, but also Colorado State being a land-grant institution, you know, founded then with being the Institute for the people, and especially for the state of Colorado, and so Lesley Robinson: I'd love then being able to think about entrepreneurship and an empowerment piece through that zero barrier lens.

Lesley Robinson: And so, yeah, teach entrepreneurship, fundamentals of entrepreneurship, and then, run the co-curricular programming pieces of that all as much as I can to be student-focused, student-led, and I really operate from a founder-focused lens, so who are you first and foremost as a founder? And all the identities and motivations and whys that come with that. Catherine Gray: Right, right. And, you know, I know you just showed Show Her the Money to your students there, which is part of our educational experience, and they're doing the curriculum, and I love that.

What was their feedback, about the film and the program? Lesley Robinson: Yeah, I mean, inspiring. So I showed it to my class, and then also our Ignite by Eye for E student organization. The facilitator, campus facilitator is my student intern, Nayeli, and she was just like, I can see myself in this story, and I've never really had that representation Lesley Robinson: piece before, and so for her, as the facilitator, to then bring it to WEBA, so our Women in Business Association, to co-sponsor that event together was really powerful, and started a narrative that I haven't heard yet on campus around not only just venture capital, but funding opportunities, for founders, but especially then thinking through that with the identity piece and the gender piece.

And so, yeah, it's a new conversation on campus Lesley Robinson: Catherine, I'm really excited that show her the money and the inspirational stories of the founders in the movie are able to really then put that real-life, applicable, really, faces to, to venture capital and what funding can look like and be. As we say, cultivating founders and funders right through the VC101 program. Catherine Gray: You know, I have gotten that feedback so much from people coming to see the film.

They're always saying, I saw myself in film, and I never felt seen and heard. Catherine Gray: Entrepreneurship can be very lonely, if you don't surround yourself with community. Speaking of community, I know you're also the co-founder of Ayana Foundation, which does amazing work. Catherine Gray: Tell us a little bit about it.

I know it's a global nonprofit that uplifts women founders, you know, with education, access to funding, and community building. So, tell us more about why and how you started that. I know with Rajul Kadakia. Lesley Robinson: Yes, yes, so this is really, I think, the perfect example of collaboration for good.

So, Jax Brennan, Rajul Kadakia, myself, and Lynn Fernando, four women, we had 3 separate kind of entities that we were working on a couple years ago. A tech girl was Rajul and Lynn, and then Feely was Jax, and then what I was doing with KS Wellly, we all came together to understand that, like. Lesley Robinson: what, Feely was building with community, and what I was building with KS Valley, and what Tech Girl was building with that enhanced access to funding would be stronger together, and so we put our… we put our, expertise together and really then defined the core pillars of education, funding, and community into Iona, and so we launched that as a 501c3 nonprofit, and really just brought, you know, the community back together.

Lesley Robinson: recently at South by Southwest through Activation, and that is, a joyous place to be. It's a homecoming. I mean, Austin is amazing itself, South by and the energy around that, but really then to put on stage those near peers and the approachability of women who have, who have started high-growth Lesley Robinson: startups, and the stories and the promising practice, or pearls of wisdom, if you will, that give-back piece is really, you know, what IANA was created for.

And so, when we think about community, that's the most important piece of it, because we're in this together, and so we have to rise together as well, and so I always think about that flourishing piece, and Ayanna is a perfect example of that, is like, as we grow and learn, we give back. Lesley Robinson: at the same rate, and so I love that we've been able to do that through ION, and we'll continue to do that as we build out our Global Leadership Council and really focus in on those three pillars.

Catherine Gray: You know, I know with… that's amazing, and I know with everything you've done, all the things we just mentioned, that you've also, you know, been instrumental in getting funding to women. Is there any success story that stands out top of your mind that you might want to share, that you're like, you know… because, you know, I know you feel proud to know that you've helped, you know, these founders to launch and soar. Catherine Gray: So, yeah, any stories come to mind?

Lesley Robinson: Well, I mean, I think, yeah, there's the funding piece, but honestly, for me, the proudest moments are just when women start to think of themselves as founders. And I always say it doesn't have to be about starting a business, right? It's the mindset and the competencies. It's really who are you, and what is your why, and what are you going to go find?

Lesley Robinson: Along the way, and hopefully that's a business, a venture adventure, if you will. Lesley Robinson: And so, so much of it is really just the identity piece of being opportunity-seeking, and being more comfortable taking risk, really, like, incorporating a lot of the entrepreneurial mindset pieces to be resilient, right? To be adaptable. And so that's kind of always step one, and why I like to work more with the early-stage founders, but especially with students.

Lesley Robinson: Is to instill in that first, so then they see entrepreneurship as a pathway for themselves, that they see entrepreneurship Lesley Robinson: as empowerment. But if I had to give a real-world example, and I mean, like, real-world global example, it's the work that I do with the U.S. State Department, and specifically with one of my professional fellows in Indonesia, and incorporating in her that entrepreneurial mindset to give back to her community to then understand, you know, the power that business can bring, and what Lesley Robinson: Than revenue can mean in terms of being able to be your own self and find that balance in life.

Lesley Robinson: and find funding from supporters, and supporters oftentimes being other women around you, and so creating that ecosystem for yourself if it doesn't exist already. And so, I think about the Dharmas of the world, and that's really, you know, my why in what I do. And so then, of course, the connection piece is important, so always being close to people like you, Catherine, and the resources that you have, because we have to be Lesley Robinson: generous with those resources and, not have that scarcity mindset, really operate more from that growth asset mindset to fix this problem that we're in, and we've been in for a while.

Catherine Gray: Yes, yes, this underfunding of women founders is an issue that I know is really a focus of both of ours. Catherine Gray: But, education and building community and helping them connect to funding, those are all key to fixing this inequity, for sure. And I think education is… Catherine Gray: probably number one there, you know, because you have to be educated to understand how to even get out of the box, you know? Catherine Gray: So, yeah, what would you say is your biggest focus now, coming up?

Like, what's important to you? What would you like to see happen in the next 5 years? Lesley Robinson: Yeah. Well, I think when we talk about that inequity piece, I've done a lot of research on this in terms of what are the inequities, and what does that look like and feel like, and what role can education have, and so this is when I'm going to bring up, you know, my alma mater, and what I'm so proud of building at the University of Tulsa with the Center for Innovation and Entrepreneurship.

Lesley Robinson: is a focus on, actually, Native American Indigenous women, and so when we think about that, less than 2% of venture capital that go towards women, even less for historically underrepresented and underestimated founders, actually the lowest of that is Native American Indigenous women at .0013%, and so I always say the atrocious stat is that you're more likely to be struck by lightning than to meet. Lesley Robinson: a Native American woman who has received VC funding, and so we're launching, we're so proud to announce a third cohort of the Cherokee Nation Accelerate Her program in partnership with the University of Tulsa to really then infuse that community education and funding piece of it with Cherokee Nation providing $100,000 of seed grants to Native American women to Lesley Robinson: Cherokee citizens to really then, Lesley Robinson: start to change that stat, and so that's a program that's near and dear to my heart, and really love what the ecosystem of Tulsa, Oklahoma is doing, and I think a perfect model in terms of looking at underestimated founders and how we can build and pipeline in resources Lesley Robinson: to groups like that.

And so, really proud of that work, and I'm so glad that you were able to go to campus and just, have a little bit of sense of what is being built at University of Tulsa, and Tulsa specifically. So, proud native Tulsan. Catherine Gray: Yeah, I was really impressed with that, and the program that you're working on there with Chris, and having to… getting to meet the ex-mayor, Kathy Case, who's amazing. Wonderful champions of women entrepreneurs there.

Catherine Gray: And loved… loved meeting that group. You know, speaking of the Indian market, this is really interesting. I'm so glad you're launching that program, because Catherine Gray: There's no reason for Indian women not to be funded, because the Indians in… all over the country have a tremendous amount of wealth. Catherine Gray: And I hope this conversation spurs some conversation about them creating some venture funds specifically to fund Indian women.

Like, why doesn't that exist? But hopefully you're lighting a match here, and we'll. Lesley Robinson: Yeah. Catherine Gray: getting that on their radar.

Why not? And going into these Indian communities and having these educational programs to lift up their women entrepreneurs. But the funding shouldn't be an issue. Sometimes I think, Leslie, it's just bringing it to their attention and saying, hey, you're… the women in your community are underfunded, let's create a venture fund to fund these women.

Catherine Gray: Because women make a better investment. We say this on the show all the time, you know, women return 70 cents on the dollar invested in them, men only 30 cents. Catherine Gray: Hello, why aren't we investing in women? And they're half the population, they have all these amazing innovations and ideas that are going to impact the world, and that includes all types of women, of course, including Indian women.

So why… you know, I'm glad we're having this conversation, hopefully they'll listen in, and… Lesley Robinson: Well, I'll say Jackie Nation is doing it. I mean, a beautiful, promising practice that we're putting some, research behind in terms of how then do you support, as a tribal nation, your citizens, and especially, you know, using this program, and the impact of the program that we're proving through the cohorts, and especially support through Kathy Taylor. And so, we love women champions like that who are finding these Lesley Robinson: amazing partnerships to then tell the story, right?

To raise awareness of what the issue is, then to be able to research and hopefully eventually publish on the findings to then encourage others to do the same. Catherine Gray: 100%, this work you're doing is so important. And, back to GCEC, because I'm really looking forward to us going there in the fall to roll out our program to colleges all over the country, all over the world. Let's talk a little bit about what that event looks like, because I know you've been before, and I understand people come from entrepreneurial centers from all over the world, right?

Lesley Robinson: Yes, so Global Event, it's my favorite conference, networking, really entrepreneurship educators that are coming together to talk about what the field is seeing and witnessing and sharing the best practices, but also what are the challenges that we're facing. And so, as a convening, really wonderful place to also be able to launch, show her the money and the college educational experience with BC101, to be able to bring that to college campuses Lesley Robinson: is to show impact of what, you know, we saw and what we're documenting with the University of Tulsa experience and Colorado State University experience, and some of our beta schools.

Lesley Robinson: But really then, how do you have conversations around what funding, means, and how you can put storytelling around that? So I think that that's really a unique. Lesley Robinson: And, like, pedagogy, really, if you think about it, Catherine, in terms of being able to understand the journeys that these women have been on to get that funding and to have that representation piece is critical and so important. I mean, one of the biggest findings that we found, Lesley Robinson: with Kay as well, it was that if you can see her, you can be her, that representation piece, that near-peer piece.

Lesley Robinson: is really, really important, and so I think Show Her the Money brings that to light. And then to be able to build a curriculum around additional stories and podcasts and, you know, video case studies that you've been able to create really then makes it more accessible, more approachable to then be able to understand not only venture capital from, like, the founder lens and going for it, but also then the funder lens and distributing it Lesley Robinson: But also, more importantly, right, than the career pathway that exists for women to go into venture capital.

And so, I know that that's the goal of the program, is to see it holistically in terms of founder, funder, and career path. Catherine Gray: And, you know, you're right. I do think our approach with adding film into the mix of storytelling is really important. You know, it's one thing to look at an online curriculum, but to have case studies of stories, or the film, our Show Here the Money film, that follows the journeys of actual, Catherine Gray: entrepreneurs.

Catherine Gray: is so important to have in that educational mix. People like being engaged in an entertaining storytelling kind of way, and I think it brings a whole new dimension to teaching. Catherine Gray: entrepreneurship and investing. And, you know, it was when we rolled out our film, Show Her the Money, to universities, and we've been at maybe 30 or 35 of them at minimum around the world, one of the feedback, I got was.

Catherine Gray: Catherine, we have entrepreneurship centers. Catherine Gray: programs, but we don't have much about venture capital. Can you bring your film here and show our students and build a curriculum to go with it? Catherine Gray: And I thought.

Catherine Gray: well, sure I can if I find the right person to build the curriculum, and there came Leslie Robinson, who's done this before, and we're so happy to be teamed up with you on this. And so now, they can watch the movie, watch our case study videos, but they have this online program in Kajabi that their campus facilitator can not only facilitate taking the class. Catherine Gray: but also bring people together in community to ask questions and talk to each other about it.

And then they get a certificate of completion, right? So, saying that they got the extra credit to do this while in school. And I'm hoping, and I know you are too, that this will impact more young women in colleges. Catherine Gray: To understand that venture capital is a career path.

Lesley Robinson: Yes. Catherine Gray: as well as an investment path and a funding path for entrepreneurs. And I… this was never taught in colleges. Lesley Robinson: No, still not.

Catherine Gray: Still not, but we're working on it, and that's what we're both, I know, excited about. So, thanks for being on today, sharing your knowledge and wisdom in this arena, and so glad to have you on board as a teammate with us on this project to Catherine Gray: raise up awareness on these campuses. I also love… I want to give a shout out to GC, to, Girls in the VC, a college program for women that are interested in, that are on college campuses and interested in venture capital.

Sarah Phillips and, Catherine Gray: Isabella, over there at, Harvard, they have a, amazing program. Isabella Amanda started this. Catherine Gray: Girls in the VC that is at 25 universities now, so if you're at a different university and you're watching this today, we can connect you to them so you can start a chapter of women interested in venture capital at your college. Catherine Gray: I always say I'm amazed how quickly that entity has grown, because when we started making this film a couple years ago, that entity didn't exist, and now there's a women in colleges, you know.

Catherine Gray: summit, for girls into VC. So, super excited to be in this space, because we really are on the ground floor of something revolutionary, don't you think? Lesley Robinson: Absolutely, and I think that student-led piece, right, for students by students, I think it's unbelievable, and so really excited to watch, Girls into VC and to support how we can, but yeah, more of that, more of that student-led piece of it, right? Because they're actually practicing the entrepreneurship piece of it as they do this.

Catherine Gray: So, Leslie, how would you like people to reach you? I know you're on LinkedIn. Lesley Robinson: Yeah, LinkedIn's great. Leslie, L-E-S-L-E-Y, Jacobs Robinson, and so you can find me there, and I always say my network is your network, so please reach out, and would love to connect with you on LinkedIn.

Catherine Gray: Yeah, please connect with Leslie Robinson, of course, Catherine Gray, I'm on LinkedIn as well, and you can visit our two websites, showherTheMoneyMovie.com. Be sure to watch it on Amazon or Apple. Catherine Gray: And then also, we have lots of resources at SheAngel Investors to help you grow your wealth and grow your business.

So, thank you so much for taking the time to tune in. Thank you, Leslie, for being an amazing guest. Make it a great week, everybody. Lesley Robinson: Great.

Thanks, Catherine.