Aberdeen will become the first UK city to host a new education programme for female business investors.
A civic reception to launch the Catalyst programme in the Granite City tomorrow comes after the Scottish Government announced support that will see its backer, a business angel network called Investing Women, expand the programme across Scotland.
Finance minister John Swinney yesterday unveiled a framework and action plan aimed at narrowing the “gender gap” in the number of female business owners and also support for women investors.
As part of the plan, Investing Women’s sister organisation, Women’s Enterprise Scotland (Wes), has unveiled five new “women’s enterprise ambassadors” who will act as role models and mentors for start-up businesses as part of its action plan.
This week’s civic reception will be hosted by Aberdeen’s Provost George Adam and the council’s chief executive, Valerie Watts, ahead of the Catalyst event in Aberdeen on the March 16 and 20.
The two-day event will unite high-net-worth women interested in learning the ins and outs of becoming angel investors, while also including female business owners looking to attract investment.
Jackie Waring, chief executive of Investing Women, said the female-led investment model it has created was designed to encourage and inform women investors who also tend to be more interested in backing female-led businesses.
“We need new investors coming into the market,” said Ms Waring. “We have been missing a massive opportunity. Up to 50% of the population who could be investing have been inactive. Getting more women active in this space changes the dynamic.
“The other side of the equation is where there are active female investors you get aspiring female-led companies who succeed in attracting backing.”
The concept is modelled on established female-led investor programmes in the US where there has been a rise in business angel investment by women from about 3% to 4% in 2005 to more than 22 per cent now.
Investing women estimates only 2% of angel investors in the UK are female.
Ms Watts said: “I am very pleased that Aberdeen has been chosen to host Investing Women’s pilot Catalyst Programme, and proud to be associated with a project which I am sure will make a very positive contribution to businesses in the Granite City and beyond.
“I am proud that Aberdeen City Council is associated with the scheme and is supporting the programme and look forward to hearing how the Investing Woman Catalyst Programme progresses.”