innovationmap awards

Houston founders share the challenges they've had to overcome as women in tech

The five finalists in the Female-Founded Business category for the inaugural InnovationMap Awards share the challenges they overcame as female founders. Photos courtesy

Even in 2021, women face discrimination in the workplace — whether it's running their own businesses or climbing the corporate ladder.

The five female finalists of the Female-Founded Business category for the InnovationMap Awards presented by Techwave were asked to share their challenges overcame as female founders. Here's what they had to say. Click here to register for the livestream.

Raising capital

Carolyn Rodz, founder of Hello Alice, says raising capital was her biggest challenge.

"We overcame it through insane networking and persistence," she continues. "Each round got easier as we proved that we knew how to grow this business and build a fiercely loyal owner community.

Katharine Forth, co-founder of Zibrio, agrees that raising early funding was her biggest challenge.

"To overcome it, I was very creative with the limited funds to generate the progress we created until we reached a threshold that was more comfortable for investors," she explains.

Being the only woman in the room

"This is a hurdle in and of itself, but it brings lots of other little behavioral hurdles too," says Kim Raath, CEO and co-founder of Topl. "Because men and women are socialized so differently, women often have to adapt to or accommodate for male-pattern behaviors."

Raath continues, saying how men tend to up-sell what they are doing, while women undersell. Additionally, she says, men are more likely to make statements while women suggest their ideas.

"It takes a lot of courage to fight for yourself and your ideas in a room full of men," Raath says. "You can't expect others to do it for you. Even further, those of us that are in the room have a duty to speak up, not just for our own sake, but for other voices that are still excluded. Being a woman in the tech space means learning how to accommodate, navigate, and hold your ground."

Being treated equally

For Samantha Snabes, co-founder of re:3D, her biggest challenge was being treated the same as her male co-founder.

"I've learned that I need to be more confident and to be proud of the differences in my leadership or communication style," she explains.

Being mistaken for the secretary

Shoshi Kaganovsky, founder of RingOn, says electronics is a very male dominated arena.

"Every time I approach a man — whether to interview him for a job or to partner up on another level — they think I'm the CEO's secretary," she says.

"When male investors talk to me they often times think I don't understand what I'm doing or that they need to dumb it down for me," continues Kaganovsky, who speaks five languages and has six degrees. "Second conversations are completely different usually."

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Intuitive Machines says the investment was made in exchange for stock and stock warrants. Photo courtesy of Intuitive Machines

An unidentified investor has pumped $20 million in equity into a Houston-based aerospace company.

Intuitive Machines says the investment was made in exchange for stock and stock warrants.

Intuitive Machines has earmarked the $20 million for general expenses and working capital to fuel “activity across key growth programs.” The company says the investment likely means it won’t need unused, previously disclosed equity financing of $50 million.

In one of those key growth programs, publicly traded Intuitive Machines is gearing up to launch three lunar landers in 2023 and 2024.

And in a deal valued up to $719 million, Intuitive Machines is leading a joint venture working on the federal government’s Joint Polar Satellite System. Intuitive Machines supplies products and services to support robotic and human space exploration.

“This equity investment will … provide the working capital needed to execute for our customer on Day 1,” says CEO Steve Altemus, referring to the satellite system.

The satellite system helps the National Weather Service forecast severe weather. Houston-based engineering and construction company KBR is Intuitive Machines’ partner in the joint venture.

The polar project launched its first satellite in 2011. By 2032, the system will feature five satellites.

The satellites measure conditions in the atmosphere, in oceans, and on land. These conditions include temperatures, moisture, clouds, rainfall, dense fog, volcanic ash, smoke and fires, snow and ice cover, and ozone.

Intuitive Machines is preparing to occupy its $40 million Lunar Production and Operations Center at the Houston Spaceport. The City of Houston and the Houston Airport System helped finance the company’s facility.

“We continue to be disciplined and opportunistic with capital. Given the timing of milestone-based [contract] payments, we [have] elected to strengthen our balance sheet defensively, as we grow and execute on new programs,” says Erik Sallee, chief financial officer of Intuitive Machines.

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