Kim Raath, CEO of Topl, and Leslie Goldman, general partner at The Artemis Fund, identified three challenges that female entrepreneurs face while going through the fundraising process. Photos courtesy

It's estimated that women make up only around 10 percent of decision makers in venture capital firms in the United States, and women-led companies only receive of a fraction of venture capital invested. And, stats aside, female entrepreneurs continue to face obstacles in the process that their male counterparts don't always share.

Kim Raath — co-founder and CEO of Topl, a Houston-based blockchain startup — and Leslie Goldman — general partner and co-founder of The Artemis Fund — discussed some of these obstacles at a virtual fireside chat for Dallas Startup Week. Here are the three challenges women face during fundraising, as Raath and Goldman discussed.

Balancing being realist with optimism

It's almost a chiche at this point — yet it still holds a great deal of truth — that women tend to be more honest than men when it comes to applying for jobs, for instance. Goldman says she's seen it plenty of times, especially when she was involved in corporate recruiting at one point in her career. Raath and Goldman agreed, women want to check off all the boxes on a requirements list.

"Men would apply if they could check just one box," Goldman says. "Women tend to be more realistic."

This trait, while noble, can be a disadvantage as it translates to the fundraising process.

Navigating unconscious bias

Raath says she's no stranger to discrimination for being a woman. In the chat, she tells a story of when she was a girl and the woman's track event she was supposed to run was canceled. She had her heart set on getting to nationals, so her father lobbied for her to get a chance to run in the boy's race. Eventually, they let her and she came in second place.

She continued to observe moments like this throughout her schooling, especially when she started studying male-dominated studies like economics and statistics — Raath now has a master's and a Ph.D from Rice University. When recently raising money for Topl's latest round, her observational and statistical mind picked up on something. Raath explains that there are two types of questions a VC might ask you — preventative vs. promotional. An example she gives for each is:

  • Preventative: "How many daily users do you have?"
  • Promotional: "How do you look to acquire users?"

"About three months in, I started realizing that I'm constantly getting these preventative questions. So, I did a little research," Raath says, explaining that she found that women are more likely to get these preventative questions. "Now, every preventative question I got, I started answering with a promotional answer."

It's the same unconscious bias as how a young male entrepreneur might be considered, "young and promising," while a woman with the same resume would be considered, "young and inexperienced."

Creating a supportive network

Raath and Goldman discussed the importance of women surrounding themselves with supportive networks made up of both women and men. On one hand, it's key to have fellow female entrepreneurs or investors who have been in your shoes before or whom you can give advice to — Raath says she created "woke woman wine nights" with her interns this summer.

On the other hand, having men in your network who can act as advocates — like Raath's father was as well as her male co-founders whom she says are great supporters — is crucial too.

"I have been surrounded by some amazing male counterparts," Raath says. "That's the other side of this is finding male champions."

Dallas Startup Week has pivoted to online panels and chats. Here's which ones Houston innovators shouldn't miss. Getty Images

Here's what Dallas Startup Week events Houston entrepreneurs should attend

where to be online

While a 4-hour trip up Interstate 45 might, in years prior, could have caused Houston entrepreneurs pause from attending the annual Dallas Startup Week, this year there's no excuse.

DSW is taking place online this year, and there are more than a couple virtual events Houston entrepreneurs need to attend. Here's which virtual events Houstonians should log on to.

Monday - The State of Fundraising in Texas

A panel of Texas-based venture experts will discuss the state of fundraising in Dallas and Texas as a whole. The panel includes:

  • Bryan Chambers, vice president of Accelerator & Investment Fund at Capital Factory
  • Cindy Revol, principal at Perot Jain
  • Laura Baldwin, managing director at Golden Seeds
  • Mike Marcantonio, principal at Live Oak Venture Partners

The virtual panel is at 9 am on Monday, August 31. More information.

Monday - Women Investing in Women

Two Houston women — Leslie Goldman, co-founder and general partner of The Artemis Fund, and Kim Raath, co-founder and CEO of Topl — are taking the virtual stage to discuss women in investing.

The virtual fireside chat is at 11 am on Monday, August 31. More information.

Monday - Innovating in co-working in a COVID-19 world

Trey Bowles and Delanie Majors from The DEC Network will host CEO and founder of Common Desk, Nick Clark, for a discussion on how COVID-19 affected co-working spaces and the entrepreneurs that used to work out of them.

The virtual panel is at 11:30 am on Monday, August 31. More information.

Tuesday - The Future of Marketing Post COVID-19

In 2020, the world changed as we know it. Hear from these marketing leaders about how the landscape will continue to change, and how you can be equipped to market your business during and after a pandemic. Panelists include:
  • Ramon Mendez, co-founder of Brand Army
  • Phil Lockhart, partner & chief digital officer of Credera
  • Michael Pratt, founder of Digital Fight Club
  • Laci McKinney, founder of The People's Voice Creative Agency
  • Jennifer Cho, executive vice president and general manager if Weber Shandwick

The virtual fireside chat is at 3:15 pm on Tuesday, September 1. More information.

Wednesday - Do You Really Know Your Customer: Customer Segmentation is Key to Success

Learn to keys to customer success from a panel of seven businesswomen, including:

  • Tracey Altman, principal, Altman Consulting
  • Sophia Johnson, founder & president at Alpha Business Images
  • Anjie Vichayanonda, founder & CEO of Leg Up Legal
  • Karen Jenkins, senior director and regional sales executive of Capital One
  • Kristy Alballero, co-founder & COO, IOOGO
  • Kristy Alballero is the co-founder and COO of IOOGO
  • Marty McDonald, CEO of Boss Women Media

The virtual fireside chat is at 10:15 am on Wednesday, September 2. More information.

Wednesday - How Smalls Can Win Big with Department of Defense

Learning to win government contracts can be a challenging task, yet millions of startups in the United States are thriving because of them. As a founder, entrepreneur, or just a curious individual, check out this session to learn about the keys to success in government contracting. Panelists include:

  • David Shaw, co-founder and chief commercialization officer at Astrapi
  • Steve Guengerich, senior adviser at the University of Texas at Dallas
  • Dave Copps, CEO of Hypergiant Sensory Sciences
  • Sam Riehn, business development at Long Capture & Contract Management

The virtual fireside chat is at 11 am on Wednesday, September 2. More information.

Thursday - The State of Corporate Venture

A panel of experts from some of the largest corporations in the world discuss how their companies work with and invest in startups. They will discuss ways to engage with them, what kinds of companies they look to invest in, and how investing has changed during a tumultuous 2020.

  • Duane Dankesreiter, senior vice president of Research and Innovation of Dallas Regional Chamber
  • Aman Sharma, partner of Capital One Ventures
  • Marisa Bertha, senior director at New Business Development & 7-Ventures, 7-Eleven
  • Jim Adler, founding managing director at Toyota Ventures

The virtual fireside chat is at 1:05 pm on Thursday, September 3. More information.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

World's largest student startup competition names teams for 2025 Houston event

ready, set, pitch

The Rice Alliance for Technology and Entrepreneurship has announced the 42 student-led teams worldwide that will compete in the 25th annual Rice Business Plan Competition this spring.

The highly competitive event, known as one of the world’s largest and richest intercollegiate student startup challenges, will take place April 10–12 at Houston's The Ion. Teams in this year's competition represent 34 universities from four countries, including one team from Rice.

Graduate student-led teams from colleges or universities around the world will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes. Last year, top teams were awarded $1.5 million in investment and cash prizes.

The 2025 invitees include:

  • 3rd-i, University of Miami
  • AG3 Labs, Michigan State University
  • Arcticedge Technologies, University of Waterloo
  • Ark Health, University of Chicago
  • Automatic AI, University of Mississippi and University of New Orleans
  • Bobica Bars, Rowan University
  • Carbon Salary, Washington University in St. Louis
  • Carmine Minerals, California State University, San Bernardino
  • Celal-Mex, Monterrey Institute of Technology and Higher Education
  • CELLECT Laboratories, University of Waterloo
  • ECHO Solutions, University of Houston
  • EDUrain, University of Missouri-St. Louis
  • Eutrobac, University of California, Santa Cruz
  • FarmSmart.ai, Louisiana State University
  • Fetal Therapy Technologies, Johns Hopkins University
  • GreenLIB Materials, University of Ottawa
  • Humimic Biosystems, University of Arkansas
  • HydroHaul, Harvard University
  • Intero Biosystems, University of Michigan
  • Interplay, University of Missouri-Kansas City
  • MabLab, Harvard University
  • Microvitality, Tufts University
  • Mito Robotics, Carnegie Mellon University
  • Motmot, Michigan State University
  • Mud Rat, University of Connecticut
  • Nanoborne, University of Texas at Austin
  • NerView Surgical, McMaster University
  • NeuroFore, Washington University in St. Louis
  • Novus, Stanford University
  • OAQ, University of Toronto
  • Parthian Baattery Solutions, Columbia University
  • Pattern Materials, Rice University
  • Photon Queue, University of Illinois, Urbana-Champaign
  • re.solution, RWTH Aachen University
  • Rise Media, Yale University
  • Rivulet, University of Cambridge and Dartmouth College
  • Sabana, Carnegie Mellon University
  • SearchOwl, Case Western Reserve University
  • Six Carbons, Indiana University
  • Songscription, Stanford University
  • Watermarked.ai, University of Illinois, Urbana-Champaign
  • Xatoms, University of Toronto

This year's group joins more than 868 RBPC alums that have raised more than $6.1 billion in capital with 59 successful exits, according to the Rice Alliance.

Last year, Harvard's MesaQuantum, which was developing accurate and precise chip-scale clocks, took home the biggest sum of $335,000. While not named as a finalist, the team secured the most funding across a few prizes.

Protein Pints, a high-protein, low-sugar ice cream product from Michigan State University, won first place and the $150,000 GOOSE Capital Investment Grand Prize, as well as other prizes, bringing its total to $251,000.

Tesla recalling more than 375,000 vehicles due to power steering issue

Tesla Talk

Tesla is recalling more than 375,000 vehicles due to a power steering issue.

The recall is for certain 2023 Model 3 and Model Y vehicles operating software prior to 2023.38.4, according to the National Highway Traffic Safety Administration.

The printed circuit board for the electronic power steering assist may become overstressed, causing a loss of power steering assist when the vehicle reaches a stop and then accelerates again, the agency said.

The loss of power could required more effort to control the car by drivers, particularly at low speeds, increasing the risk of a crash.

Tesla isn't aware of any crashes, injuries, or deaths related to the condition.

The electric vehicle maker headed by Elon Musk has released a free software update to address the issue.

Letters are expected to be sent to vehicle owners on March 25. Owners may contact Tesla customer service at 1-877-798-3752 or the NHTSA at 1-888-327-4236.

Houston space tech companies land $25 million from Texas commission

Out Of This World

Two Houston aerospace companies have collectively received $25 million in grants from the Texas Space Commission.

Starlab Space picked up a $15 million grant, and Intuitive Machines gained a $10 million grant, according to a Space Commission news release.

Starlab Space says the money will help it develop the Systems Integration Lab in Webster, which will feature two components — the main lab and a software verification facility. The integration lab will aid creation of Starlab’s commercial space station.

“To ensure the success of our future space missions, we are starting with state-of-the-art testing facilities that will include the closest approximation to the flight environment as possible and allow us to verify requirements and validate the design of the Starlab space station,” Starlab CEO Tim Kopra said in a news release.

Starlab’s grant comes on top of a $217.5 million award from NASA to help eventually transition activity from the soon-to-be-retired International Space Station to new commercial destinations.

Intuitive Machines is a space exploration, infrastructure and services company. Among its projects are a lunar lander designed to land on the moon and a lunar rover designed for astronauts to travel on the moon’s surface.

The grants come from the Space Commission’s Space Exploration and Aeronautics Research Fund, which recently awarded $47.7 million to Texas companies.

Other recipients were:

  • Cedar Park-based Firefly Aerospace, which received $8.2 million
  • Brownsville-based Space Exploration Technologies (SpaceX), which received $7.5 million
  • Van Horn-based Blue Origin, which received $7 million

Gwen Griffin, chair of the commission, says the grants “will support Texas companies as we grow commercial, military, and civil aerospace activity across the state.”

State lawmakers established the commission in 2023, along with the Texas Aerospace Research & Space Economy Consortium, to bolster the state’s space industry.