A new accelerator for women entrepreneurs in Sacramento – FourthWave – (which was originally launched in LA in 2014 with the intention of being developed in other states) – is helping this actualize. Pointing to Kauffman Foundation research which found that “women-led private technology companies are more capital-efficient, achieve 35 percent higher return on investment, and, when venture-backed, bring in 12 percent higher revenue than male-owned tech companies,” Fourth Wave executives are now trying to get the women the support they need. Most significantly what they are lacking is early capital to get started, which traditionally is discriminately given to men over women.
It was most fitting that Sacramento was the first city to adopt FourthWave. The city has many women leaders in the tech and design community (including Cheryl Beninga, Tracy Saville and Melanie Weir) and it is becoming quite the tech hub. This is also due to the commitment to finances and mentoring with a city grant having been given to FourthWave Sacramento.
In addition, Sacramento is working on its ecosystem which is becoming evident through female leadership. Female entrepreneurs are working in healthtech, edtech and more and it’s working out for them being in Sacramento.
Let’s not forget also that Sacramento is actually the nation’s largest economy and thus might be able to impact other cities that are seeking to rebrand themselves within different partnerships and with women in power.
With all this in mind, Sacramento could become the next best place for women in top tech executive positions.