Penn Venture Lab launches initiative to address gender bias in entrepreneurship

Penn’s Venture Lab has launched a new initiative aimed at addressing gender biases in entrepreneurial ecosystems. 

The two-week program, titled “Breaking the Bias,” includes a series of events designed to support both company founders and investors who want to ensure equitable evaluations of gender-focused products, particularly when the investors themselves do not fall within the products’ target demographic. The initiative will kick off on Oct. 2.

The Oct. 2 virtual panel will feature Venture Director at HearstLab Eastin Rossell and senior associate at True Wealth Ventures Abbie Strabala. The event is geared towards educating founders and joiners about the intricacies of pitching femtech products — those which involve technology addressing women’s health issues — particularly in an environment where investors may not represent the products’ users. 

Venture Lab Associate Director Rebecca Winkler, who is one of the program’s lead organizers, described the process of developing the initiative, particularly citing student consultations during the summer. She said that during these consultations, students expressed concerns about confidently conveying the value of their products.

“The programming for this year is in response to the gaps that have been identified,” Winkler said. “The genesis of [this initiative] was to support founders and investors who want to ensure that they’re able to provide an equitable evaluation of these products and services when they’re not part of this target demographic, or just being able to navigate their own internal potential biases.”

Winkler further added that the initiative will add more programming in response to a “gap” or “additional consultations with students,” citing a desire to “have all our programming be as student-led as possible.”

The two-week program will also feature a pitch competition, which is set to take place at Tangen Hall on Oct. 9. Attendees of the initial panel will receive priority registration for the competition. 

Taylor Durham, director of marketing and digital studios at Venture Lab, said that the “Breaking the Bias” initiative aligns with the organization’s broader goals. 

“Venture Lab aims to become a ‘third place’ for students — a dedicated space outside of home and work or study — where students from all backgrounds can come together to collaborate on entrepreneurial ventures,” Durham said. 

Durham added that with resources centralized at Tangen Hall — which she described as the largest student entrepreneurship hub globally — Penn’s entrepreneurial ecosystem will continue to grow and evolve in the future, particularly with more programs like “Breaking the Bias” to support underrepresented founders.

Durham described Tangen Hall as not only a physical space but also a catalyst for Penn’s entrepreneurial culture, citing it centralizing resources that previously were spread across campus and thereby making it easier for students from different disciplines to collaborate. 

The “Breaking the Bias” programming, which is supported by a donation from 2004 Wharton graduate Sandeep Naik and Bhakti Prabhu, may act as a pilot for future gender diversity initiatives. Winkler said that she hopes it will pave the way for more targeted programming in response to student needs. 

“There is a desire from Venture Lab to support gender diversity within the entrepreneurial ecosystem, elevating students with both underrepresented gender identities, inclusive of gender expansive students, as well as anyone who identifies as an ally in this space,” Winkler said.