Golden Seeds, a seed-stage investment company focuses on women entrepreneurs, with a start date of about a month before the pandemic hit. It is one of the most recent iterations initiative in New Jersey but according to Kathleen Coviello, the chief economic transformation officer of the New Jersey Economic Development Authority, this firm is one of the largest.
The third largest out of the eight chapters of Golden Seeds, a company that has invested in more than 200 businesses since it was established in 2005, is located in New Jersey and is rapidly approaching the No. 2 position.
Kathleen stated that developing a business is challenging as women entrepreneurs often lack the kind of network or background experience that would give them an advantage while looking for investors. This majorly creates a gap, only 19 per cent of the business firms receive startup funding that is owned and operated by women. For those ventures that promise female entrepreneurs for funding, mentorship, and networking opportunities, Golden Seeds is working to address this issue across the country.
The New Jersey Chapter is established under Governor Phil Murphy’s administration and was founded with the help of the NJEDA and first lady Tammy Murphy.
The organization also depends on those individuals who contribute their capital income to investment companies. In addition to the partnerships with accelerator and business incubator programs, the New Jersey chapter of Golden Seed comprises 33 members who are now dedicated to interaction with the entrepreneurial communities. These members have 154 companies so far of all the state's 21 counties, however, a majority of them haven't agreed to the funding.
