Last Wednesday, I attended the Brisbane “activation” event for SheEO. The SheEO model brings together 500 women, called Activator (thus an activation event) who contribute $1100 each as an “act of radical generosity”. The money is polled together and loaned out at 0% interest to five women-led ventures selected by the Activators each year. The goal is to have a perpetual fund that continues, funding women-led ventures.

I think it’s a great idea that borrows from endeavours like the Grameen Bank, which was cited by Monica Bradley the MC for the night. SheEO’s first goal is to find 500 women in Australia, but on the night, they made clear it would great to have 500 women in Queensland alone! I don’t know if they will succeed, but I certainly wish them well. I will certainly keep them in mind in the coming year for possible activation.

The main guest speaker for the night was Carly Brown, Founder of UNE Piece, whose company fits the mould for a venture that can apply to the SheEO fund. Because the SheEO fund has a simple criterion, do you have an annual turnover of $50,000? If so, you can apply. I gather UNE Piece is up there and so can apply.

I like the simplicity of the application process. It really is about the “wisdom of the crowd” or rather, the wisdom of the 500 Activators. I can see pitfalls with the model but overall, it can be better than having “a process”. It sounds weird but I am reminded of a recent tweet by Peter Laurie regarding the “process” of application. I.e. some teams understand the process better than others. But it doesn’t mean they are a better startup then another that isn’t as good at process deconstruction. In many ways that is not too dissimilar to publication or grant applications in the academic world or even Oscar nominations. If you have a process, it can be gamed. So maybe just relying on 500 women with skin in the game, in the form of money, might be the way to go!

Few things make me more stressed than rapidly assessing a startup from an application form and a short video.

Some teams understand the process, some don't. I worry about how well that correlates with quality of the startup.
— Peter Laurie (@pjlaurie) November 9, 2018

So yes, I had a good time learning about radical generosity and how women are elevating other women. Nothing left to say but point out that event was hosted at the BDO offices and they have an amazing view! I understand one of the WeWork Brisbane offices is in the same building, and I am so tempted to sign-up for that office. Alas! I am not in a position to indulge in that type of expenses yet. But I hope that changes soon!