Taking on Feedback
Welcome to the Fortieth edition of Unstoppable Female Founders!
#Unstoppable Female Founder
Roxanne Varza, Director of Station F, Scout for Sequoia Capital and co-founder of Tech.eu.
She is the daughter of Iranian immigrants who relocated to the US following the Iranian Revolution. She combines her love of the French language and culture with the thrilling startup and VC ecosystem, running Station F in Paris.
Growing up in Silicon Valley, Roxanne was surrounded by the vibrancy of innovation and entrepreneurship from an early age. This environment undoubtedly fueled her passion for startups and technology. Although academically, it was her initial love of the French language that influenced her educational pursuits. She fell in love with French authors and philosophers, quoting luminaries such as Molière, Baudelaire, Voltaire, Rousseau or Rabelais. She went on to earn a bachelor's degree in French literature from UCLA and spent a year living in Bordeaux, southwestern France.
Her professional journey began when she moved back to SIlicon Valley, where she found her first job at the French International Investment Agency, now called Business France. Her role was to encourage American firms to open offices in France and it was here that she fell in love with the startup ecosystem. She then launched her blog, TechBaguette, which became a pivotal platform for sharing insights on the European startup scene. Her blog's success catapulted her into the role of Editor at TechCrunch France, where she further cemented her reputation as a thought leader in the European tech community.
Roxanne's passion for fostering innovation and supporting women in tech is evident in her co-founding of several impactful initiatives. She co-founded Girls in Tech Paris and Girls in Tech London, organizations dedicated to empowering women in technology and entrepreneurship. These platforms have been instrumental in creating a more inclusive and diverse tech ecosystem.
Additionally, Roxanne co-founded Tech.eu, a prominent resource for tech news in Europe, which was later acquired by Webrazzi. She also played a crucial role in the establishment of StartHer (now part of Sista) and Failcon France, initiatives that support and celebrate female entrepreneurs.
Perhaps Roxanne's most influential role to date is serving as Director of Station F, the world's largest startup campus based in Paris. Under her leadership, Station F has become a hub for innovation, attracting startups from all over the globe. The campus provides a dynamic and supportive environment for startups to thrive, offering everything from mentorship and funding opportunities to cutting-edge facilities.
One of the most notable successes to emerge from Station F is Hugging Face, the AI startup that achieved unicorn status. Station F boasts a remarkable statistic, with 41% of its startups being female-founded or co-founded, a testament to Roxanne's commitment to diversity and inclusion.
In addition to her roles supporting startups, Roxanne is also an avid investor. She previously served as a Scout for Atomico and is currently a Scout for Sequoia Capital, two of the most prominent venture capital firms in the world. Her role as a Scout has allowed her to identify and support promising startups across Europe, several of her investments include companies such as Claap, Folk, Resilience.care, Moka.care, and Colette.
Her approach to entrepreneurship is encapsulated in her own words: "The idea doesn't matter as much as what their why does. Why they're doing what they're doing, what sets them apart from other people doing the exact same thing.’
Roxanne Varza's journey from the daughter of Iranian immigrants to one of the most influential figures in the European startup ecosystem is remarkable. Her contributions have significantly shaped the landscape of tech and startups across Europe and her legacy continues to inspire the next generation of entrepreneurs. Whether through her role at Station F, her investments, or her advocacy for women in tech, Roxanne Varza is nothing short of inspiring.
The Rant
Taking on Feedback while Fundraising
You’ve got your startup idea, you’ve created a pitch deck and you’ve started pitching investors. Congrats! However, are you optimizing your pitch and pitch deck based on the feedback you’re receiving? Just as you would with a classic marketing or sales strategy, you have to continually be collecting feedback and optimizing your investor pitch along the way.
Feedback can come at various stages of your fundraising journey. Initial meetings, follow-up sessions and even informal conversations with investors can all provide valuable insights. Early on, feedback might be more general, focusing on your business model or market approach. As you progress, the feedback becomes more detailed, addressing specific aspects of your pitch deck or presentation style. Understanding when and how this feedback arrives is crucial to leveraging it effectively.
Feedback During the Pitch Process
In-person pitch meetings are prime opportunities for receiving direct feedback. These sessions are often the first real interaction with potential investors and can be intense, filled with questions. The feedback you receive here is invaluable because it reflects the immediate reactions and concerns of those investors. Pay close attention to their body language, tone, and the points they emphasize or question repeatedly.
The Importance of Investor Questions
The questions investors ask during your pitch are windows into their thought processes. Are they concerned about your market size? Do they question your revenue projections? Each question highlights areas where your pitch might be unclear or unconvincing. Analyzing these questions post-meeting can help you identify recurring themes or gaps in your presentation. This proactive approach allows you to refine your pitch, ensuring that future investors leave with fewer doubts and more confidence in your vision.
Explicitly Asking for Feedback
While some feedback will come unsolicited, don't hesitate to explicitly ask for it. Post-pitch, seek out investors' thoughts on your startup, your pitch deck, and your presentation style. This shows investors that you're open to improvement and value their expertise. Be specific in your queries, ask about what they liked, what confused them, and what they think could be improved. This not only helps you gather actionable insights but also fosters a collaborative relationship with potential investors.
Filtering and Implementing Feedback
Not all feedback will be relevant or actionable for your startup. It's essential to filter through the feedback, identifying what aligns with your vision and goals. Implement changes that enhance your pitch while staying true to your core message and strategy. Remember, your goal is to make your pitch as compelling and clear as possible without losing sight of what makes your startup unique.
Incorporating investor feedback into your pitch and pitch deck is a crucial part of the fundraising process. By understanding when you'll receive feedback, actively listening during pitches, paying attention to investor questions, explicitly asking for feedback, and carefully filtering and implementing suggestions, you can continuously refine and improve your pitch. This iterative process not only strengthens your presentation but also builds stronger, more informed relationships with potential investors. As a founder, embracing feedback with an open mind and a strategic approach will significantly enhance your chances of fundraising success.
Hype Corner
The amazing female founders who have raised capital with their teams over the past week. HUGE CONGRATULATIONS TO THESE AMAZING WOMEN:
🇬🇧 Carla Hoppe - Co-founder & CEO of Wealthbrite
🇨🇭 Marlene Brakhane - Co-founder & COO of NetFabric
🇩🇰 Mathilde Nordgaard Co-founder & R&D Director of Agrobiomics
🇩🇪 Li Wang Co-founder & COO of Even realities
🇰🇪 Sneha Mehta & Jade Oyateru, MBA, Co-founders of Uncover
🇺🇸 Christina Cacioppo Co-founder & CEO of Vanta
Congrats again to all of these founders.
Events for Female Founders
🇩🇪 {Hamburg} AiDiA Founder Pitch event will focus on elevating black founders as part of the wider conference happening on the 7th of Sept. 2024.
🇬🇧 {London} Sifted Summit is back on the 2nd & 3rd of October. Join 3000+ European Founders, Investors and Operators
🇫🇷 {Paris} WVC:E is back on October 7th & 8th in Paris. This conference is dedicated to female founders with previous speakers including Eileen Burbridge of Passion Capital and Sarah Drinkwater, General Partner of Common Magic.
🇸🇪 {Malmö} Nordic Fe:male Invest Summit by Minc will be held again this year on the 6th of November in Malmö is THE tech event driving diversity within the startup eco system. Tickets on sale now, Early Bird rates expire on 30th of June!
Do you know of any events or programs aimed at supporting female founders? Send them over to be featured!
UFF NEWS ALERT
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Thanks again for taking the time to read this week’s newsletter!
Have a wonderful weekend! ☀️
JH