Breaking Barriers: Stories of Inspiration from International Women's Day 2024
1871 hosted its annual International Women’s Day celebration on 3.07.24, bringing together hundreds of women founders, leaders, and community allies for a day of empowerment and striving for inclusivity in the tech realm and beyond.
This beloved day entailed interactive and educational programming centered around this year’s IWD theme, #InspireInclusion, and let’s just say the content and energy in the room was electrifying!
Our education partner SANDWINA returned for the second year with custom Founder & Leader workshops to inspire and uplift attendees. To close the afternoon, we had the honor of having Jaime Faulkner, President of Business Operations at The Chicago Blackhawks as our 2024 keynote speaker.
These women professionals are inspirational leaders and industry disruptors, shaping the way for a more inclusive and equitable world for founders and leaders from all backgrounds.
From personal experiences to actionable strategies, discover the best takeaways, quotes, and video content from 1871’s 2024 International Women’s Day event below!
Check out our IWD 2024 recap playlist for more behind-the-scenes footage!
International Women’s Day ‘buzz words’
1871’s CEO Betsy Ziegler set the tone for the day with her opening remarks,welcoming all who showed up for a day of celebration, reflection, empowerment, and allyship.
As our community continues to work towards advocating for a shift where inclusion is not just an added layer but the essence of our community, Ziegler asked the audience to participate in a new exercise, shout out buzz words WE as a community want to see the future become and build towards. The results?
Abundance, progressive, pride, respectful, impactful, thriving, loving, confidence, intersectional, revolutionary, empowering,prosperous, accessible, diverse, inclusive, equal…. The list goes on.
“It’s time for all of us in tech innovation and beyond to own a new version of the future, where all people of backgrounds can fund, found, lead, and scale companies,” Ziegler said. “This is not about leveling the playing field, but constructing a world with abundant opportunities for innovation and equality. We must wield this into reality, a future where we all thrive together.”
Shifting the traditional tech ecosystem
Chicago is the #1 metro for VC-backed companies founded by women, with 37% of companies founded/funded having at least one female founder. But, only 15% of total funding raised in Chicago went to female founders. Nationally that number drops, with women-owned businesses receiving less than 2% of total VC funding. The question is, why?
Tricia Martinez-Saab, Managing Director of Tech Stars, Kasia Bednarz, Co-Founder of FARE, and Lindsay Knight, Partner at Chicago Ventures delved into the challenges and triumphs of women founders and leaders in ‘The Truth About Funding for Women Founders’.
From horror stories of general sexism in the funding realm to unfair disadvantages for women entrepreneurs, these professionals dipped into the inequitable side of being a woman founder and leader and the importance of diversity & advocating for yourself.
“Female founders, data tells us that they actually make greater CEOs; they hit profitability faster, they build stronger companies, they’re more empathetic leaders, yet VCs are not investing in us as much,” said Martinez-Saab. “There’s this problem in the ecosystem where we need to get more wind as female founders to prove to the market that we deserve the money. And I think the most frustrating part is that we can work our asses off and keep proving and proving and proving, but that’s just how the system works. We’re going to have to work ten times harder, and especially if you’re a Black or Brown founder.”
Diverse leadership teams drive 19% higher revenue, with 53% increase in return on equity, and 66% return on investment capital. Until we get to enough density in the diversity of those making decisions, those numbers won’t change!
Advice: Network with people and build a strong vision to get people excited about you and your vision to change the world. Asking for help attracts great people into your network. Reach out to individuals who are focused on your specific industry and remember, your network is your best asset!
Is diversity a strong enough antidote to disrupt?
Erica Bauer, Director of Community Relations at Chicago Bulls & Founder of Girl Power Songs gave a comical insight into ‘Why DEI was DOA’.
Bauer emphasized the importance of acknowledging diversity in spaces, but its effects are truly felt when change is made for all to feel included and heard.
“What if inclusion came first? If we don’t see people who look like us in positions, it matters. A lot of people fear change. When there’s fear, we need to create conditions that allow for feedback, so someone different than me can walk into the room and call out what doesn’t work for them, so everyone can eat at the table,” Bauer said.
According to Bauer, the reality is that D.E.I was dead on arrival because it was a response to a moment, not a movement. DEI efforts have traditionally gone into little things rather than fixing the actual systems and structural barriers at play.
“How are you contributing to this movement? When we’re in a movement together we support one another, we speak up, and we strategize. Opposition is the sincerest form of flattery, and has been here and will be still here. Let’s remember that we are still here, and we got sh*t to do.”
Reflecting on equal pay & representation today
The Equal Pay Act was passed in 1963 to prohibit discrimination in pay wage on account of sex, yet women STILL make $0.77 on the dollar men earn, these numbers drastically decline for women who are part of other minority groups.
Bridget Lohrius, Founder & CEO of SANDWINA and Delia Coleman, Deputy Director of Equal Rights Advocates gave insights into the frustrating realm of pay inequity in ‘Action for Equal Pay’.
According to Lohrius & Coleman, the pay gap is theft, stealing resources, time, ideas, and more from women who are doing the same job as men.
With $1.6 trillion dollars in wages stolen from women because of the pay gap annually, the conversation should not be modeled around equal, aka earning what men are paid, but should be around disrupting policies and creating opportunities where women are paid their correct earnings.
“Pay secrecy allows employers to hide how decision making is made. Leaders should believe in transparency, with work forces working better with trust, empowerment, and authenticity,” said Coleman. “Transparency helps you grow your salary, improves company culture, and leads to innovation. When you’re not worried about how your salary buys [blank], you’re able to think about creativity, innovation, etc. When people start talking, it opens a door for opportunity and change despite the uncomfortableness.”
Advice: Pay transparency needs to be addressed in companies, so ask your coworkers what they make. Don’t tell employers your salary history, as you’re negotiating from a deficit which contributes to the ever-widening pay gap. Instead, advocate for your value and skills, ask for the pay range, and stop letting the secrecy shenanigans happen!
“Be bold. The system was not built for women. We have to be bold, scrappy, and inventive. Break some rules. Brag. And stop worrying about being liked,” said Lohrius.
Jaime Faulker closed our IWD celebration with inspirational stories about her professional journey, her values, and shared advice for negotiating and work/life boundaries, both inside and outside of the sports realm.
Since her appointment in December 2020 and under her leadership, Jaime has spearheaded the transformation of the Blackhawks, including rebuilding the organization, acquiring two additional sports teams, launching an investment arm, and leading a major estate development project. All while balancing a high-profile career with her family life!
Jaime’s leadership also implemented maternity leave for women Blackhawk workers, something that she negotiated for staff members and was not addressed before her role. Women are in sports, but the representation is not always there.
“I get really frustrated because the conversation in sports a lot of time is about how do we get more women in the room, how do we get more representation. I sit in those rooms, and there are women in the rooms. There are women playing sports that are just as talented as the men who play, they’re there,” Faulkner said. “We have to shift the conversation to be about what they’re contributing so that the headline isn’t ‘Blackhawks Hire First Female Team President’… the headline needs to be ‘Blackhawks Hire Seasoned Executive to Lead the Next Generation of the Blackhawks’.’”
Advice: Role of mentorship – find people who are willing to put you in the room and have you be included and heard. Never compromising your values and character is just as important as competency and confidence. Be consistent in decision-making and always negotiate on things that matter to you the most.
Our 2024 International Women’s Day celebration was made possible by the support of our community and our sponsors, Kadeya, JustWorks, GET Cities, and Motorola Solutions.
Thanks to everyone who joined us this year and highlighted women’s achievements with us! We hope you had a great time and continue to #InspireInclusion all year long. We’ll see you next March for IWD 2025!
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