Tag Archives: Judith Bitterli

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Preparing for the Social Internet of Things

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Factor in the booming Internet of Things and researchers estimate there will be 50 billion connected devices in the market by 2020! These are big numbers with big implications for the tech industry and our customers.

When you break it down, it means every day millions of new users will get their first smartphone or tablet, or change to a new device, or add other connected digital device such as wearables, activity monitors, health apps, and even their cars…and be coming online with all the data that goes with them. These aren’t just faceless people, but our nephews, nieces, children and grandchildren.

Now, think about when you first came online. For many of us, we had the benefit of growing up with the Internet and were able to make mistakes and learn from them as we went along. The next two billion users won’t have that luxury. They are coming online in the age of the Social Internet of Things and will experience a much larger interconnected world. They will surely find great delight, but every mistake made could be broadcast to billions of people, along with increasing pitfalls and exponentially greater consequences.

Just think about the rise in teen and celebrity sexting scandals and over-disclosure, cyber-bulling, and the mounting security breaches at major banks and retailers putting millions of credit card users at risk.

The bottom line is that businesses have to earn the right to engage with the next two billion web users and that is achieved by earning their trust.

Global research we did with MEF Global Forum earlier this year also reinforces this point. We found that:

  • 40% of mobile media users cited trust as a barrier to purchasing goods and services online via their mobile
  • 65% said they were unhappy sharing personal information with apps.

At AVG with three million Facebook followers and 25,000-50,000 conversations happening daily – we also hear this echoed from our customers. Now magnify the concern consumers will have in a world where every smart connected device is sending our data to the Internet!

I explored the topic of “Building Trust for the Social Internet of Things,” at the MEF Global Forum event In San Francisco last week during a session and panel called, “Know thy Customer, Mastering the Consumer Experience.”  Our mission was to explore shifting consumer experiences and what it means to those of us in the industry and businesses.  I wanted to bring the perspective of what users want and need, and what it means from a mobile security, privacy and trust point of view.

We in the industry need to start planning now for the next two billion users. People need to know that they don’t have to give up their privacy every time they go online.   How do we make that experience all that it promises to be and develop their trust in our brands? How do we equip them for the Social Internet of Things?

Brands must adapt to address the concerns of a new and more connected audience and be willing to help build a future where it is as easy to be safe online as it is to connect a device to the net. People need to change as well. They need to prepare themselves for new technologies and an interconnected age of Digital Citizenship.

At AVG we envision a world of “smart users.” That’s why we recently started a Smart User Initiative as part of the Clinton Global Initiative.  Our goal is to increase the ratio of smart users to smartphones by teaching the next two billion Digital Citizens skills in how to engage in the digital world safely and securely in a way that protects them and others. And we’re putting out a call for partners– other brands, businesses, organizations, carriers, manufactures, and content producers – to join us on this mission.

You can read more about AVG’s Smart User Initiative in a blog by our CLO Harvey Anderson. His Op-Ed on this topic also appeared on Re/code recently.

Let’s strive to make the experience for the next two billion people coming online in the age of Social Internet of Things, more personal, trusted and the best it can possibly be…

AVG

Technology is still a distraction for drivers

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A newly released study by AT&T reinforces the unfortunate and dangerous trend of driving and texting that shows no sign of stopping. The survey, released last Wednesday, found two-thirds of respondents said they have read text messages while stopped at a red light or stop sign, but more importantly a quarter have sent texts while driving. One in four of those who texted while driving also believe they “can easily do several things at once, even while driving”…

Now for the rest of the story…The AT&T study points to a fascinating and disturbing feature of human behavior:  98% of survey respondents said that sending a text or email wasn’t safe, but 49% of commuters self-reported doing it anyway.

This result comes in spite of all the public-service campaigns and laws against texting and driving. And it certainly reinforces the ability of humans to say one thing and do another – though that isn’t exactly news.

What is news is a newer tech-related peril on the road: Voice-activated software. Originally viewed as an answer to achieving hands-free driving, voice-activated software is now a growing cause of driver distraction and threat to driver safety, according to a recent study by AAA .

Voice-activated software has been touted as a benefit, because drivers can keep their hands on the wheel and their eyes on the road while changing radio stations or composing texts messages… Unfortunately, AAA found that drivers could still be distracted while driving. The reason? Interacting with the software still affects the cognitive part of your brain.  Many of the simple tasks previously noted increase a driver’s cognitive workload. And, depending on the situation, that can be dangerous.

Vehicle voice-activated “infotainment” systems that are more complicated or just take longer to navigate created the highest levels of driver distraction and safety risks, according to the October AAA study.

Many of us who use hands-free phone technologies have already come to understand that having a conversation, especially an important or emotional one, while driving can be only a little less distracting than juggling a phone. It’s for the same reason: Cognitive distraction.  Many studies back this up, including a groundbreaking one from the National Safety Council.

The bottom line: any activity that is not directly related to driving, whether it is using electronics or simply eating, represents a potential distraction and safety risk, according to previous research by AAA, the National Safety Council, the National Transportation Safety Board and other safety groups.

As with the ongoing campaign against text messaging or voice interactive driver safety, what’s needed is a multi-pronged approach just as Mothers Against Drunk Drivers (MADD) has done so successfully. Prevention strategies that may show the most promise are legislative and corporate policies, mixed with high-visibility enforcement and strict consequences.  Yet technology solutions also can go even further by preventing calls and messages from being sent or received by drivers in moving vehicles.

Location Labs

At AVG, we’re proud to have a new solution in our portfolio of products that addresses the texting issue—Location Labs’ Drive Safe app, available as Sprint Drive First and Safely Go. (AVG acquired Location Labs in September.) Drive Safe detects motion and automatically locks a phone moving more than 10 MPH. All ringtones, buzzes and push notifications are silenced, and only designated “VIP” contacts, like parents, can get through, while everyone else gets an automatic “I’m driving, I’ll reply later” reply.

It’s clear as connected cars become the norm, demands for driver security are only going to increase – both in terms of driving safety and data security. It also presents opportunities for technology to help solve these new challenges.

Add driverless cars into the mix, and there is an exciting and brave new world ahead for technology and cars and, hopefully, greater driver safety.

AVG

Apps For Our Veterans

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As we celebrate Veteran’s Day in the U.S. this November 11th, I’d like to honor our uniformed men and women, both those who have served and those who continue to do so. I am very proud of my own military service and most veterans will tell you the same. If you are like many of us, and have friends or family members who have served, here are a five great apps/services to check out.

 

For Re-entry into Civilian Life

The U.S. Chamber of Commerce Foundation Hiring Our Heroes app, in partnership with Verizon, is a mobile one-stop shop developed to help veterans, transitioning service members, and military spouses searching for employment. The app gathers all of the program’s resources in one tool – enabling military members and their families to search for jobs and access free employment resources on virtually all mobile devices.

Militarylounge.com has an app called College Guide that provides a comprehensive list of universities that accept the G.I. Bill, a calculator of benefits, as well as a handbook of benefits that are available to vets and soldiers.  A major benefit to the military is the G.I. Bill, which, in its post-9/11 form, provides full tuition and fees for public, in-state schools, plus a monthly allowance for housing and an annual stipend for textbooks. Over 6,000 institutions participate in the Post 9/11 GI Bill Yellow Ribbon Program.

 

For Health

Many veterans understandably have trouble navigating the complicated world of the Veterans Administration. Claims Coach, developed by The American Legion, is designed to help the process. It provides step-by-step guidance to help service officers through the process of filing for VA benefits. The free app features a nationwide directory of accredited American Legion service officers, a built-in organizer for appointments, documents and deadlines, and a wealth of other resources. Additionally, a personal secure file called “My Checklist” keeps everything in order, from the initial meeting with a service officer through VA’s decision and appeal, if necessary.

Unfortunately, but understandably, many of our troops come back from service traumatized from events. PTSD Coach was designed for veterans and military service members who have or may have Posttraumatic Stress Disorder (PTSD). This app was created by the VA’s National Center for PTSD in partnership with the Department of Defense’s National Center for Telehealth and Technology. It provides users with education about PTSD, opportunities to find support and tools to help manage the stresses of everyday life with PTSD.  You can download it here.   It’s been downloaded more than 100,000 times in 74 countries. Features include:

  • Information on PTSD and treatments that work
  • Tools for screening and tracking symptoms
  • Direct links to support and help
  • And, as a mobile app, it’s always just a click or phone call away.

As the VA points out: Any data created by the user of this app are only as secure as the phone/device itself. Use the security features on your device if you are concerned about the privacy of your information.

 

For Families

Scout Military Discounts LLC has just launched SCOUT, a military savings mobile application for both iOS and Android devices. The new, free mobile app is designed to provide all U.S. veterans, military members and their families a way to easily access military discounts and freebies from anywhere, at any time from their mobile phone or other mobile devices.

The SCOUT app is available for download at Apple or Google Play. Use the search term SCOUT Military to find the app for download. And if you want to volunteer or get involved, go to scoutmilitarydiscounts.com. The SCOUT app is available for download at the Apple App Store and Google Play. This looks like a great app to use during the holiday season!

 

For Those Still Serving

So much support for our troops come from veterans friends and families. You can’t beat Skype for keeping in touch with troops at home or abroad.  Rules and regulations are different depending upon where a soldier is stationed, but veterans can communicate face to face with their overseas colleagues for practically nothing, and perhaps more importantly, spouses can keep in touch with loved ones that might be far away.

This Veteran’s Day, I want to wish all those who have served, and those who still do serve, the gifts of safety, health, and happiness. Thank you for your service.

AVG

Tuning in to Cybercrime

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The BBC has begun airing a six-part series, presented by British technologist, writer and “futurist” Ben Hammersley.

Called “Cybercrimes with Ben Hammersley,” the series was produced in partnership with The Open University. It looks at the range of cybercrime – from the scam emails that fill up our inboxes to drugs and guns that can be bought anonymously on what is called the shadowy business of “darknet,” and even governments spying on their own citizens.

Hammersley emphasizes that 2013 was a very bad year for cybercrime in businesses. He notes: “In February, $45 million was stolen from ATMs around the world after cyber criminals hacked credit cards and gave them unlimited withdrawal limits. Then, in November, 40 million credit card numbers were removed from the point-of-sale terminals of US retailer Target.”

Video

Cybercrimes with Ben Hammersley

We’ve chronicled other recent major breeches here. The fact is, major data breaches are occurring at a regular pace now, and are having an impact on our most standard, or reliable, institutions.

The global annual cost of cybercrime has been estimated at several hundred billion dollars. PwC’s 2014 Global Economic Crime Survey found that 7% of US organizations lost $1 million or more due to cybercrime incidents in 2013; furthermore, 19% of US entities reported financial losses of $50,000 to $1 million.

As Hammersly points out, ” Cybercrime affects each and every one of us. Every aspect of our lives is vulnerable to the criminal abuse of our networked world…”

It’s good to see the issue of cybercrime getting more in-depth attention in mainstream venues such as the BBC… I’m hoping there will be a large audience tuning in for what promises to be a very interesting and educational series.  The more educated people are, the better equipped we all will be to protect ourselves online.

Of course, cybercrime is a major issue to us at AVG: Our mission is to secure devices, data and people – and we are always working to give people and businesses the tools and information they need to better protect themselves online.  We haven’t talked about it a lot, but AVG Innovations Lab monitors current trends and develops software and apps to meet the needs of today’s consumer – as well as looks to future vulnerabilities to meet those needs too. In fact, we will be showcasing some of the work of our labs –including solutions to growing threats in mobile and the Internet of Things– during a press-only event we are calling “AVG Experiential Lab,” in San Francisco on Sept. 18.

AVG

Don’t fall for these scams this Halloween!

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Facebook Reset Scam

The Facebook reset requests arrived via email and text message: “Somebody asked to reset your Facebook password.” At first it was annoying; then it was worrisome – a possible scam/phishing target.

Facebook says that these alerts are sometimes triggered due to a person mistakenly entering the same name and then, when their password doesn’t work, the customer asks for a reset. That might be possible in certain cases, but just based on the constant messaging, this was clearly beyond a normal user mistake, and an imitator scam.

Facebook Reset Scam

Let’s set aside the fact that although I have unlimited mobile data, many people don’t, and would end up paying for these unwanted texts. What’s more problematic is thinking about the many users who unsuspectingly fall for the request, click away and sign away their passwords.

Facebook says it will never ask you for your password, so if this happens to you, resist the urge to click. Any time you receive an urgent call to action in an email, be wary.  Don’t click on links contained in emails as a general rule. Instead, go to Facebook manually and look at the notifications. Needless to say, keep your anti-virus software up-to-date and use a password manager to keep your passwords safe and secure.

 

Facebook itself advocates the following steps:

  • Use an up-to-date browser
  • Use unique logins and passwords for each of the websites you use.
  • Check to see that you’re logging in from a legitimate Facebook page with the facebook.com domain.
  • Be cautious of any message, post or link you find on Facebook that looks suspicious or requires an additional login.

 

IRS and Other Scary Calls

You might imagine getting a voice message from the IRS wouldn’t be good news. And it’s not! This is a current scam making the rounds: Someone claiming to be an officer of the Internal Revenue Office leaves a message for you or your legal representative to call their hotline regarding an extremely time sensitive issue – before they take legal action. I was immediately suspicious: Would the IRS really leave me a phone message if there were an issue? The answer is “No.”

What’s really scary is that the IRS reported in August 2014 it had received 90,000 complaints and identified approximately 1,100 people who have fallen victim, given up credit card numbers, etc. and lost an estimated $5 million from these scams.  You can learn more about the same on IRS. gov.

Fast forward to another cell scam: persistent calls received from an unknown number in the local area code. No voicemails were left. But after the calling persisted several times a day for a few days, you become curious as to who was calling. When I rang the number I got a “This number has been disconnected” message…

Lots of research later and it’s unclear as to whether this is just some weird harassment or part of the “One-ring” cell phone scam that the FTC has issued warnings about. In the latter scenario, scammers are using auto-dialers to call cell phone numbers across the country. They let the phone ring once and hang up — hoping you’ll call back, either because you believe a legitimate call was cut off, or you will be curious about who called. If you do, chances are you’ll hear something like, “Hello. You’ve reached the operator, please hold.” While waiting, you rack up some hefty charges — a per-minute charge on top of an international rate. The FTC notes: There’s no danger in getting the call: the danger is in calling back and racking up a whopping bill. If you’re tempted to call back, try checking the number first through online. Go here to learn more.

As for persistent calls, you can block them. You can block calls on both Android and iOS phones. On an iPhone look on your list of recent calls, just click the “i” in the circle to the right of the number. It will open an info tab, just scroll to the bottom and click block number. You should also report the number to your service provide (AT&T, Verizon, etc.) to get them blocked there.Halloween comes and goes, but scary scams will continue, and it requires a higher level of awareness from all of us! Check out AVG’s Facebook page for ongoing alerts and simple tips to help your friends be more safe online!

AVG

Digital Dating @ 50+

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I noticed that this past weekend marked a lesser holiday known as ‘Sweetest Day’ (also known as a Hallmark holiday), which is celebrated in some parts of the U.S. – largely in the Midwest and Northeast.  Very similar to Valentine’s Day, it offers an opportunity to bestow candy and cards to those you are “sweet on.”

Sweetest Day

It’s a holiday my generation grew up with, though I’m not sure how the holiday is faring in terms of current popularity. But it brought to mind the latest stats on Internet dating: more than a whopping 41,000,000 Americans have gone online to find a match or a date.

Increasingly, it’s the most popular way for people over 50 to meet and marry. Research suggests that Boomers who date online is now growing two times as fast as the number of younger users. According to recent research by eHarmony, the biggest growth segment in online dating for the next decade is going to be the 55-64 age group.

Match.com, one of the largest online dating sites, claims that 25 percent of its membership is between the ages of 50 and 65 and Boomer members have grown 90 percent in the last 5 years. With at 21 million plus members, that’s approximately 5 million Boomers on Match.com alone!   (You can find all sorts of online dating stats, if you are interested, on Statisticbrain.)

There also has been a notable rise in dating sites specifically catering to Boomers and Seniors, such as Ourtime.com, SilverSingles.com and SeniorPassions.com.

Why this growth? A study conducted for OurTime.com reveals unmarried people over 50 consider companionship more important now than they did during their 20s. There also are numerous studies that support a correlation between one’s interpersonal relationships and their health and longevity. Plus, let’s face it, dating can fun!

But for many people (Boomers and not), especially those who are newly single because of divorce or death, the thought of dating and finding a partner also can be daunting and scary. And though society’s comfort level has grown with the emergence of respected online dating communities over the last decade, a healthy amount of cautiousness persists – and rightly so.

So, where to start?

If you’re trying online dating for the first time, or even if you’ve tried it before and it didn’t work out, and you may want to try it again, you should look at one of our own resources, the AVG Guide to Dating Safely Online (free download here).

In the meantime, here are a few tips:

  • Figure out what you want. You may want to date only people your age and in your local geography. Or you may have certain religious affiliations, or hobbies, or interests that you are looking for in a potential partner. With literally thousands of dating sites out there, you have options to tailor your search to your desire.
  • Once you’ve narrowed down the sites and apps you would consider signing up to, look for any articles, blog posts or social commentary that illustrate other users’ experiences. Are there any problems, such as privacy concerns, associated with the site?
  • Use technology that you are comfortable with. There are of course many dating sites that are pretty much like digital classifieds. But increasingly there are other options, such as mobile apps that let you find singles in the area.  (More than half of eHarmony users now use mobile devices to interact with the dating service.)
  •  Don’t provide intimate details about yourself until you feel comfortable with the person you are dealing with. By the same token, realize that any content you share – from your interests to your photos – becomes the property of that site, and you lose the rights to control how it’s used. That means your picture could pop up as a “Date Of The Week” promotion – or your dating profiles can turn up on Internet searches. So look in the privacy settings to make sure yours is only available to other users logged into the site.

Readers of my column know that I’m a big fan of second acts (and third acts, and beyond!). And that doesn’t only apply to careers – but to relationships as well. J So whether you decide to try online dating – or to go the old fashioned route – I say do some homework and then just go for it!

 

On a separate note, but on the topic of choices: I’m delighted to report that I have just learned that I have been selected to speak at SXSW 2015 Interactive on “Boardroom or Baby? The Choices Women Have in Tech.” A big thank you to everyone who supported me and voted for my submission. I hope to see many of you in Austin next March 13-17!

AVG

MEF Appoints Judith Bitterli to Global Board

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Established in 2000, MEF is the global trade association for companies wishing to monetize their products & services via mobile. It is a global presence offering impartial and powerful voice for pioneering companies from across the mobile content and commerce value chain.

AVG has been a member of MEF for two years, and has already participated in the AppPrivacy working group to develop a quick and easy privacy policy generator for app developers. AVG also sponsored the MEF Global Consumer Trust Report which examines trends in mobile business and examines barriers to growth for the mobile economy.

The MEF Board

In her new role, Judith will be providing insight and expertise to the MEF as the world becomes more focused on the Internet of Things.

Judith won’t have long to wait to get involved in MEF activities as she will be participating in a panel on trust, privacy and consumer engagement in mobile at the MEF Global Forum in San Francisco in November.

Images courtesy of MEF

AVG

Fever Pitch: Live Final is inspiration to us all

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By the time I arrived for The Pitch Live Final on 23rd October, 1,000 of the original competition entrants had been whittled down to just 30 of Britain’s brightest new entrepreneurial talents.  The event was held in Bristol, a city well-known for its strong start-up culture, its growing reputation as a technology hub and enlightened University initiatives. I took my place alongside my three fellow panellists: Karen Darby of CrowdMission; Lara Morgan of Company Shortcuts and Charles Carter of ICAEW.  Ours was the unenviable task of deciding which one of these great new business ideas should be the overall competition winner.  Judgement day was upon us.

The Contestants

We heard inspirational stories from guest speaker entrepreneurs who had successfully completed their journey interspersed with pitches from the finalists all of whom demonstrated no shortage of creative flare, energy and passion of their own.  Listening to them some common themes began to emerge including:

Judith and the winner of The Pitch

Certainly the business pitches made to the judges were of a very high calibre. I personally found it found it all very inspiring and a little bit of Christmas for the brain.  Deciding on a top five and eventual winner was no easy task.  Finally, after much deliberation, propertECO , the company that tests buildings for cancer-causing radon, was chosen as the competition winner.

It was particularly thrilling to see Rebecca Coates, co-founder of propertCEO, crowned the champion, as she became the first female winner of The Pitch since the competition’s inception in 2008!  In fact, women entrepreneurs were well represented in this year’s competition, earning 10 out of the 30 finalists.

Congratulations to Rebecca and all the finalists!  In fact everyone taking part deserved to be considered winners for creating a display of ingenuity and inventiveness that may one day benefit all our lives.  Photographs capturing the atmosphere of the event have been uploaded to the AVG Flickr account and may be viewed here.

I’ll close by saying; AVG’s active participation in the year-long competition was an extremely positive experience. Perhaps most important of all, it has provided AVG with an invaluable platform to engage directly with the small business community. And, hopefully we have started to make a lasting impression on their consciousness.

To sum up, the real winner is……all of us!

 

 

AVG

Good News from the Government

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With all the data breaches making headline news, and more importantly, affecting millions of Americans, the Obama administration announced a strong government plan to add security for debit cards that are used for federal benefits such as Social Security.

Specifically, in an executive order signed at the Consumer Financial Protection Bureau, President Obama ordered that government agencies that process payments employ enhanced security features.

Those measures include launching a chip and PIN initiative that the government has named “BuySecure” initiative. Chip and PIN means that secure information is embedded in a chip in a credit card and users must enter a PIN number in order to use the card, much like they currently do with a debit card. The President moved without Congress on this one, which if anything highlights the importance and the need for haste in this matter.

Chip and PIN reduces the chance of fraud, as I pointed out in an earlier post (see here).

The point is that smart cards are revamped credit cards with microchips that store your data on the card. Chips are better than magnetic strips because the strips use the same technology as a cassette tape (remember those?) and thus are easy to copy. But chips generate a unique code each time they are used. So, while criminals can still steal your card and still commit fraud and sell data, they can’t copy your card and create more fraudulent ones under your name. It’s a big step in the secure data direction.

The major catch with the chip cards, until now, is that most retailers don’t have the technology for them just yet. The main companies that have had breaches have announced plans to install the new technology (this includes Home Depot, Target, etc., and it is also interesting to note that Walmart was ahead of the curve on this one).

But no doubt with the government behind this movement, it’s going to push this technology and added security into the mainstream, essentially making it the new way of doing business via credit.

Thus far there has been some foot-dragging on chips, not just because retailers will have to upscale to the new technology, but also as banks and retailers have argued over who is in fact responsible for security. This should definitely speed up, and resolve, the process.

“There is a need to act and [to] move our economy toward stronger, more secure technologies that better secure transactions and safeguard sensitive data,” the White House said in a statement.

President Obama, speaking about the motivation behind the order, said, “Identity theft is now America’s fastest growing crime. These crimes don’t just cost companies and consumers billions of dollars every year; they also threaten the economic security of middle-class Americans who worked really hard for a lifetime to build some sort of security.”

AVG is glad that the government recognizes identity theft, cyber security, and data breaches as increasingly crucial problems. These are definitely issues that is not only a drag on the economy and businesses, but also affect peoples’ lives, and livelihood. I applaud the President’s bold move on chip and PIN.

AVG

What does the future hold for women in Tech

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Enormous untapped investment opportunity exists for venture capitalists smart enough to look at the numbers and fund women entrepreneurs

Prof. Candida Brush

 

As you may have gleaned from my columns and history as a woman entrepreneur in tech, I’m a huge supporter of getting more women into the field.  Indeed, I feel that women bring a unique perspective to tech, business, investing and leadership.

For many of us in the tech field, it was disappointing to hear the comments of Microsoft’s new CEO Satya Nadella’s when asked last week at pre-imminent women’s tech conference about his advice to women interested in advancing their careers – i.e. specifically on getting a pay raise. In an interview at “Grace Hopper Celebration of Women in Computing” event, which you can read an account of here, he appears to suggest women should be quiet and wait until the system works… The comments, which produced immediate backlash, drew Nadella to respond on Twitter trying to clarify his position – that he had been inarticulate… And wrong.

Unfortunately, pay parity remains an enormous hurdle for women. As I addressed in my column on Labor Day, it’s the 77% rule (women earn 77 cents for every dollar earned by a man in the U.S.).  And while Silicon Valley has been kinder in pay parity (when job parity exists), as other recent Silicon Valley research has pointed out, there also seems to be a 30% rule when it comes to women getting tech jobs.

Certainly, more work lies ahead to change these numbers and the mindset that encourages them.

But I also was struck recently by some encouraging findings in a comprehensive new survey on venture capital funding for women entrepreneurs by Babson College in the U.S. – which points to why there should be more women entrepreneurs.

The report found a narrowing but continuing significant gender gap in venture capital–funded businesses: Early-stage investment in companies with a woman on the executive team has tripled to 15% from 5% in the last 15 years. Despite this positive trend, 85 percent of all venture capital–funded businesses have no women on the executive team – and only 2.7% of VC-funded companies had a woman CEO.

But the report also contained this jewel: Companies with women on the executive team perform better! The study found that companies with a woman on the executive team are more likely to have higher valuations at both first and last funding (64 percent higher and 49 percent higher, respectively).

Called the Women Entrepreneurs 2014: Bridging the Gender Gap in Venture Capital, the study was conducted by Brush and fellow professors leading the Diana Project, a forward-thinking program founded in 1996 to research women-led businesses globally. The report provides the first comprehensive analysis of U.S. venture capital investments in women entrepreneurs in 15 years.

The study analyzed 6,793 unique companies in the United States that received venture capital funding between 2011 and 2013. You can read the executive summary here. The report findings and recommendations were shared on September 30 at an event presented by Babson’s Center for Women’s Entrepreneurial Leadership in partnership with the EY Entrepreneurial Winning Women Program.

Babson professor Brush noted in the report, “Only a small portion of early-stage investment is going to women entrepreneurs, yet our data suggest that venture capital–funded businesses with women on the executive team perform better on multiple dimensions. The venture capital community, therefore, may be missing good investment opportunities by not investing in women entrepreneurs.”

However, another key finding of the report, and one less encouraging, was that the number of women decision-makers in the VC community has dropped since 1999 – from 10% to 6%.

Among the Babson report’s recommendations to change the paradigm: Showcase the success of growth-oriented, venture-funded women entrepreneurs. I agree. There certainly have been a number of successful women VCs and angel investors in the past 15 years. Long-time angel investor Esther Dyson and VC partners Heidi Roizen of Draper Fisher, Jurvetson and Ann Winblad of Hummer Winblad, and more recently Margit Wennemachers of Andreessen Horowitz, are a few that come to mind.

I think the opportunities are there for women, but that there can certainly be more, a fact borne out by this study. Perhaps the silver lining is that companies and VCs not motivated by a sense of equal play will be inclined to inclusion by a mercenary motive – from a closer scrutiny at the women leaders’ financial performance.

There is a huge opportunity here for people who can think outside the common dichotomy of man/CEO; man/VC; woman/somewhere else. I just look at this and think what we are missing by not navigating outside of an outdated business paradigm!

 

On another note: I’m extremely proud to be a judge for The Pitch 2014, the small business competition in the UK. AVG is a lead sponsor and mentor for the event that concludes next week in Bristol on Oct. 23.