Serial entrepreneur promotes gender equality
Pushing to fund more women and achieving gender equality will actually lead to more economic gains for businesses, companies and even countries, according to Ignite Impact Fund founder Maoi Arroyo.
Speaking in the online event “Striking Stereotypes: the Rise of Women Leadership” presented by the American Chamber of Commerce, the serial entrepreneur and impact investor pointed out the need to achieve gender equality in the workplace not just in the Philippines, but all around the world.ph
“The open secret is that the Philippines is not actually gender-equal. Gender equality is more than pay and inclusion, and it is still really bad in rural areas,” said Arroyo, an awardee of The Outstanding Young Men (TOYM) Philippines in 2011.
“We really need more people to invest in women and in the investment philosophy of women, because you’re going to make money,” said Arroyo, who studied at the University of the Philippines and Cambridge University. She is an adjust professor at the Asian Institute of Management.
Arroyo, who describes herself as a startup junkie, led various companies such as Ignite Impact Fund, Onovo Inc., Gregorio et Filiae-Cosimo Leathersmiths, Alchemedia Philippines, Christo Ecclesiasiae Development Inc. and Hybridigm Consulting Inc.
She came from a family of entrepreneurs, with her grandparents the founders of Gregg Shoes--the leading brand of school shoes for many decades.
“Gender equality actually translates to money. You would actually have a GDP increase if gender equality was achieved—you’d have a two percent increase in the UK, a nine percent increase in Japan, a 27 percent increase in India and a $5.3-trillion dollar increase all around the globe. It’s about time we have more of a say,” she said.
Citing that the world is currently seeing a major transfer of wealth to women and millennials, Arroyo further pushes for more impact investing from corporations and high-net worth individuals to help people and the planet.
“Women also need to be given bigger influence in the field of investing, as data from Bloomberg has found that only 14 percent of the 25,000 fund managers around the world are women, managing less than 1 percent of the world’s assets,” she said.
This is why Arroyo and her partners founded Ignite, which seeks to combine profit with a purpose by making investors money while also contributing positively to the world. Ignite invests in impactful startups with the help of over 30 years of mentoring and managing local enterprises, eventually aiming to lift Filipinos up from extreme poverty.
Companies that Ignite has already invested in include Quicksilver Satcom Ventures, which provides satellite-based internet connectivity to underserved and unserved areas in the Philippines; Plentina, a credit app that gives the unbanked access to credit they can use in stores and merchants; and BioPrime, a natural fertilizer and soil conditioner that accelerates plant growth yield and increases farmers’ income. Ignite is also in the process of investing and developing more startups around the Philippines.