How three women are advocating for economic equity

When first looking at the phrase “equity and inclusion in business,” one may draw the conclusion that they are synonymous, but the terms have clear-cut differences in the world of business — and both are equally important.

Workplace inclusion ensures all perspectives and experiences are valued. Employees are able to thrive when they feel respected by peers, managers and upper management. Equity goes beyond respect. It aims to remedy past wrongs and create a level playing field where everyone has equal opportunities.

These three women were all in Sacramento last month for a one-day event at The Sofia focused on empowering women entrepreneurs to gain traction through angel investing, funding and other avenues — areas where women, people of color and LGBTQ+ individuals have been left out historically.

Cheryl Beninga: empowering women entrepreneurs

FourthWave Inc. is a technology accelerator program for women founders, which was co-founded by venture capitalist Cheryl Beninga. Launched in 2017, in partnership with Sacramento State University’s Carlsen Center for Innovation & Entrepreneurship, FourthWave aims to provide women with the tools and support they need to succeed in a male-dominated industry. The program has helped women raise over $100 million in funding, helping more than 60 women through FourthWave.

FourthWave supports promising women in tech, such as Rebecca Nguyen, founder and CEO of Valley Match (an AI-powered dating service), and Tonya Turrell, founder and CEO of The Launchpad Group, which connects tech partners.

“The network of amazing female founders at FourthWave has been invaluable to me,” Nguyen said. “I’ve gained a lot of confidence and learned to trust my intuition more. Their guidance has helped me grow my business by two times since starting the program.”

Beninga, who advises high-growth tech companies at FourthWave, helps women entrepreneurs not only in Sacramento but also in the Bay Area, Florida, Seattle, Atlanta, North Carolina and Texas. The program accepts applications in May and conducts interviews before selecting participants. FourthWave also hosts educational workshops on business and leadership throughout the year.

Catherine Gray: champion for angel investors

Catherine Gray is a venture capitalist and co-founder of the She Angels Investors, which is based near Los Angeles. This investment group connects women-owned businesses with funding and resources, encouraging women to become angel investors themselves.

“We only get 2% of investment funding in both the venture capital world and the charity world,” Gray said. “Women and girls’ issues only get 2% of all charity giving.”

Gray produced the film “Show Her The Money” which is currently on a film and speaking tour across the U.S. The film was screened in Sacramento on Sept. 14 and explores the challenges women face in securing funding. A spinoff series focusing on women-founded venture funds is in the works. She also authored the book “Show Her The Money,” promoting angel investing as a path to gender equity in funding.

Gray answers the questions in the film for viewers that are important such as: How can other women find investors? And how can more women in business contribute to this movement by investing in fellow female entrepreneurs?

Through She Angels Investors, Gray created a pitchfest to connect women investors and entrepreneurs. “I always saw there’s an old boys’ club,” she said. “Let’s add a ‘b’ to the old girls’ club and call it ‘The Bold Girls Club.’ It’s important to see how women support women.”

Gray started the “Invest in Her with Catherine Gray” podcast to help women learn how to push past the barriers of starting a new business and seek funding. She interviews women who are investors — and women who have their own venture capital funds for women entrepreneurs looking for funding. It’s a way for women to connect the right dots to help their businesses succeed.

Wendy Ryan: building inclusive leadership

Wendy Ryan focuses on creating workplaces where everyone feels valued so employees can reach their full potential. She founded San Jose-based Kadabra 10 years ago to catalyze future-readiness for emerging C-suite leaders.

“We view ourselves as helping companies future-proof their leadership,” Ryan said. “Every business needs to transform, some need to do it now.”

The “Learn, Lead, Lift” framework helps businesses adapt to changing demographics, the rise of AI and evolving leadership expectations. It focuses on developing mindsets, skill sets and behaviors. Her book, “Learn, Lead, Lift” of the same name delves deeper into creating opportunities for historically excluded groups. Her clients include city governments, nonprofits, charities and Fortune 500 companies.

One tool Ryan offers is a Discovery Card deck, which provides exercises for leadership teams to explore inclusion concepts. Her book also delves deeper into the importance of leaders creating opportunities for historically excluded groups.

“Leadership is not just about a title,” Ryan said. “It’s a role you can have in your home, community and at your business. I want more people to see themselves as leaders and embrace the positive impact they can have.”