Founders, innovative thought leaders, pioneers, role models: these were just some of the terms lavished upon U of T alumni-cum-entrepreneurs Leila Keshavjee, Saara Punjani, and Pooja Viswanathan at a panel event at ONRamp on the eve of International Women’s Day. Dubbed “Female Founders,” this event was the first in an annual speaker series that leverages both the celebration of International Women’s Day and U of T’s thriving entrepreneurship culture to discuss the triumphs and challenges of being a female founder.
Christine Allen, the Interim Dean of the Leslie Dan Faculty of Pharmacy, moderated the panel. She is also the co-founder of tech startup Nanovista.
Overcoming structural challenges
Punjani cited credibility as one of the main hurdles on the path to success. Punjani is the Chief Operations Officer of Structura Biotechnology, a startup founded by her brother Ali and also Marcus Brubaker. The business develops machine learning technology for structural biologists.
“We have a product that’s based on a completely new technology. The market is something that we are actively trying to create as we go along,” she said. Part of building this market is finding ways to establish credibility within existing markets, which is why Structura Biotechnology has offered its software to academic institutions for free — results published using the software are their “foot in the door,” according to Punjani.
Keshavjee, the founder of healthy, all-natural fruit ice popsicle startup Happy Pops, said that earning credibility as a young female entrepreneur has been a recurring challenge. “People often don’t trust young female entrepreneurs… but I think hopefully we’re changing that,” she said. Keshavjee said that preconceived notions of what an entrepreneur looks like can be a strong inhibitor for women. Her appearance and subsequent $150,000 offer on Dragons’ Den, she said, has allowed her to partially overcome this issue when dealing with clients, despite nothing about her product having changed.
For Viswanathan — co-founder of Braze Mobility, a startup that develops sensors that improve accessibility for wheelchair users — perception can be turned to her advantage. “I think a lot of the [problems are] just how you perceive [them],” she said. “So when you walk in thinking you’ve got a competitive edge because you’re a woman, then it actually turns out that way.”
Failure can be healthy
Failure has been a recurring motif for the three entrepreneurs, and each has their own approach on how to fail and how to come back stronger. “You’ve gotta fail fast,” Keshavjee said. “You’re gonna fail so many times as an entrepreneur… there’s a lesson to be learned in all of this.”
Viswanathan said that failure prevents complacency and pushes her to pursue alternative solutions to problems. “One thing that I actually love about failure is there’s nothing [like it to] get you moving,” she said. The lack of wheelchair standardization made it difficult for her startup to create universal sensors, especially without enough expertise in mechanical engineering and design. Her solution was to assemble a team capable of complementing each other’s expertise.
As for Punjani, overcoming failure depends on “changing the definition of what it actually means to fail.” She added that “having had more life experience and more of an entrepreneurial experience, you start to see that it’s not really about what you accomplish at the end of the day or what you expected, but… that you keep going.”
Sensing a bright future
Keshavjee, Viswanathan, and Punjani’s brother all relied on U of T’s Impact Centre to help launch their startups. The Impact Centre is one of the university’s nine accelerators; it provides resources and commercialization aid for aspiring entrepreneurs. Punjani had also relied on support from the Department of Computer Science Innovation Lab and UTEST, two other U of T accelerators.
Changes are on the horizon for all three startups, owing to the continued success they’ve been able to achieve thus far. Keshavjee’s Happy Pops is projecting 500,000 sales in 2019, in what is only its fourth year of operation. Keshavjee hopes to distribute her product across Canada and the US within the next five years.
Punjani and Structura Biotechnology are likely to shift from developing software to becoming involved in the field of drug discovery as they continue to expand their reach into their market.
Finally, Viswanathan’s startup is aiming to be “the intelligence behind the entire wheelchair manufacturing industry.” She said that the “industry is very mechanical heavy,” meaning that it has not significantly invested into software and intelligence data, which in turn limits wheelchairs’ mobility and ability to overcome certain accessibility concerns.
Impact Centre founder and U of T Entrepreneurship academic director Cynthia Goh described each of the entrepreneurs best at the start of the evening as “changing not only the conversation, but the very landscape of their fields.”