How can one woman’s vision create a business masterpiece?

By Kath Carter

EY Global Talent Leader, Strategy and Transactions; EY Women. Fast forward and Entrepreneurial Winning Women™ Global Executive Sponsor

Accomplished transaction advisor. Champion of equity for all. Avid fitness fan.

8 minute read 23 Jan. 2024

When we invest in inclusive entrepreneurial ecosystems, we build a better working world, one founder at a time.

In brief

  • Around the world, women continue to face unrelenting, systemic barriers to entrepreneurial success.
  • Strengthening inclusive entrepreneurial ecosystems helps connect women founders with the funding, mentorship, access and networks needed to thrive.
  • Learn how five women founders have overcome hurdles to achieve business success – and empower other women along the way.

The world needs women-owned businesses. But the market itself continues to hold women in entrepreneurship back from delivering on their promise and unleashing their full potential. This must change – now.

Explore the stories of five remarkable entrepreneurs who are creating new possibilities for the world through tech-driven solutions, sustainable businesses and the kind of transformational thinking necessary to build a truly better working world.

And then? Consider how you can embrace, support and engage with EY’s Entrepreneurial Winning Women program to make positive change. Meet five of our Winning Women alumnae below.

  • Bobbie Racette is building a business that changes lives

    Bobbie faced a world of bias applying for jobs. As a Cree-Métis woman who identifies as 2SLGBTQ+, no one, it seemed, would hire her. Through her job search, she noticed a gap: online administrative services were predominantly offshore. Bobbie decided to build a local offering herself. She founded Virtual Gurus as an inclusive platform that now employees more than 1,100 people reflecting a kaleidoscope of backgrounds, experiences, genders, identities and orientations.

    In the beginning, there was only her, an idea, $300 and a will to create meaningful possibilities for herself and others struggling to find inclusive workplaces. Traction and funding took time. Bobbie cold-called her way to marginal sales, fulfilling roles herself. She took her talent-as-a-service solution to market; 170 different venture capitalists turned her down. Bobbie’s first investment came from a CEO she hired. She bootstrapped until 2020 before closing her first successful funding round of $1.25. The next round, she raised $8.4 million. She pivots continuously, layering on new ways to bring marginalized, under-represented, at-risk professionals into business.

    Now? Virtual Gurus drives $10 million in annual revenues as Canada’s largest freelancing platform, generating 3,000 inbound job applications weekly. Among a host of recognitions, Bobbie was recently named an EY Canada Entrepreneur Of The Year 2023 Prairies Award winner. All the while, creating safe workplaces where all people can thrive.

    Bobbie Racette headshot profile
  • Dilma Campos wants the world to know Black women can lead

    Dilma was a professional dancer performing at a corporate event when the client’s marketing director took the stage. That presentation spoke to her. Dilma envisioned herself on a different path; one that’s taken shape in Nossa Praia ESG Tech, the thriving marketing and communications firm she’s built in Brazil. Getting there required Dilma to overcome a world of nay-sayers who said her race and gender precluded her from CEO status. She’s proven them wrong.

    Dilma was 22 when she leapt from dance to university studies. Degree in hand, young daughter at home, she moved to marketing. Seven years in, progress stalled. Folks around her moved into more senior roles as Dilma hit a ceiling. Across the agency’s 23 business units, Dilma couldn’t see a single Black person at her level or higher. Set on growth, Dilma pursued two MBAs, learned English and worked endless hours before her director asked why she couldn’t “just be happy” as the only Black person at her level.

    Dilma quit and co-founded an agency; a steppingstone to her own shop, Nossa Praia, in 2013. Grounded in her values. No funding or back-up plan. Dilma poured every dollar made back into the company, ultimately carving out a niche around ESG-focused events and experiential marketing.

    Now? Nossa Praia has more than doubled annual billings to R$7 million since 2016. Clients include world-class brands. Dilma has spoken at the United Nations. Set to graduate university next year, Dilma’s daughter knows she can be anything, and anywhere, she wants to be.

    Dilma Campos headshot profile
  • Shiromal Cooray says entrepreneurship means making change

    Shiromal never intended to join her family business. In the 30 years since she did so, Shiromal reimagined Jetwing Travels into one of Sri Lanka’s leading inbound/outbound travel management businesses. Above all, she sees her organization as a means of enabling those around her to achieve a dream.

    At first, no one took her seriously. Company and industry peers refused to listen to anything a woman had to say. Born and raised in Sri Lanka, Shiromal persevered. She saw potential everywhere, unearthing growth opportunities and new revenue streams. Refusing to be ignored, Shiromal evolved Jetwing into travel planning, logistics and tours, focusing on sustainability long before it became newsworthy.

    Major setbacks threatened the business along the way. The Easter Sunday terror attacks in 2019. The COVID-19 pandemic in 2020. Then, an opportunity to enable travel and accommodations for quarantining travelers. 

    Now? Jetwing is among Sri Lanka’s top three travel companies. Hundreds of employees bring the socially minded portfolio to life across travel, hotels, events, air, holidays and eco-tourism units. Jetwing programs help women integrate into the working world. Through her Board seat at the country’s largest bank, Shiromal is moving lenders to think beyond collateral-based funding and invest more in female-led entrepreneurial ideas. She’s helping other women speak loudly to ensure they’re heard, too.

    Shiromal Cooray headshot profile
  • Suneera Madhani believes we cannot be what we cannot see

    Suneera was working for a merchant service provider when she saw a need for a new solution; one that would enable small- and medium-sized businesses to think smarter and move faster with better payment terminals. She founded Stax with that purpose in mind, upending an industry and building a billion-dollar unicorn of a business.

    It wasn’t easy. Her male employers shut her idea down. Seizing on her father’s suggestion, Suneera built the platform herself. In 2014, she quit her job, moved into her parents’ home and built the company from the ground up.

    For Suneera, every step was a struggle. She needed partnerships and technologies to build her vision, so she started small. Her brother and a technical co-founder came on board and got to work.

    The road to success was not easy. Suneera showcased her high-tech payment terminals out of the trunk of her Volkswagon Beetle. She fundraised while pregnant — twice — all while facing off with sexist questions, sub-optimal terms and low valuations. Eventually, investors couldn’t ignore the scalability of what she’d built. Suneera refused to take no for an answer until she found the yes she needed.

    Now? Suneera’s made history. Her final funding round generated $245 million in 2022, pushing Stax’s valuation to the billion-dollar mark. And this, at a time when less than 3% of venture capital goes to minorities; less than 1%, to businesses whose CEOs are women of color. Now, she’s making sure her success isn’t a unicorn; it’s the norm. Exiting Stax as CEO, Suneera founded The CEO School to help women dismantle barriers, and become the example the world needs next. Podcast downloads so far? One million — and counting.

    Suneera Madhani headshot profile
  • Yasmine Abdel Karim wants her daughters to see a limitless world

    Yasmine founded the tech-based, on-demand logistics and instant grocery delivery start-up YFS. With 400 million orders delivered, 500 affiliates and 3,000 vehicles, YFS empowers businesses with access to Egypt’s e-commerce markets.

    Yasmine dreamed of a career making a positive difference for people, and entrepreneurship offered a pathway. Spotting a gap in last-mile delivery capabilities, she returned to Egypt after two decades abroad to launch her company in 2019. Investors were thrown off by her gender and lack of industry experience. With no local endorsements, she struggled to portray enough confidence to gain buy-in. In pitch after pitch, investors asked probing personal questions.

    Through grit and perseverance, Yasmine raised an initial $3 million, then another $7 million. At the time this $10 million capital injection was anecdotally considered one of the highest amounts an Arab woman has ever raised for a logistics business.

    Pivoting from consumer-to-consumer toward e-commerce models, Yasmine dove deep into grocery delivery. Then, the COVID-19 pandemic threw her into survival mode, working as a driver, operations lead and customer service rep. As she poised to scale, the war in Ukraine and supply chain disruption took hold. Yasmine doubled down and focused on operating exceedingly well.

    Now? YFS is Egypt’s leading grocery delivery service, growing revenues 30% in 2022 and prepping to roll the tech out internationally. Meanwhile, her daughters say they won’t work for a company. They’re going to build their own.

    Yasmine Abdel Karim headshot profile

Join the EY Entrepreneurial Winning Women™ program

Hear from our Winning Women alumnae about the benefits of participating in this global network.

Summary

Women in entrepreneurship are dismantling barriers, overcoming hurdles and driving progress through sheer grit and passionate determination. When we work together with women to foster a global entrepreneurial ecosystem, we can help them go farther, faster.

That opens the world up to powerful new solutions and possibilities in a market that’s transforming every single day.

Women. Fast forward global platform

Women. Fast forward global platform.

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EY Entrepreneurial Winning Women™ programs

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About this article

By Kath Carter

EY Global Talent Leader, Strategy and Transactions; EY Women. Fast forward and Entrepreneurial Winning Women™ Global Executive Sponsor

Accomplished transaction advisor. Champion of equity for all. Avid fitness fan.