September 29, 2017
Tina Bitton and Natalie Wood are thoroughly modern women: well- educated, career minded, and entrepreneurial.
They may also turn out to be pioneers. Each is likely to take part in a first-of-its-kind project to narrow a yawning gender gap that has made America's newest industry, technology, look much like its older ones: owned and operated by men.
Ms. Bitton and Ms. Wood are part of a small stampede of women technologists applying to be part of the so-called Women's Technology Cluster, which will open its doors here in early January. The cluster is the first of its kind in the nation and will operate on the principle that when fledgling enterprises operate cheek by jowl, they share ideas, information, and resources. In short, they build the kinds of relationships and "networks" that are well established for men, but not women. The project is regarded as a particularly focused and innovative attempt to end the dearth of women leaders in technology and generate the type of big-time commercial successes that have so far largely eluded women in the booming technology field. And the objective goes beyond simply changing the gender profile of the technology sector. It includes inculcating a new philosophy. Companies accepted in this new technology center must agree to devote at least 2 percent of their equity to a fund that will invest in the community, a noteworthy promise of social commitment within an industry often criticized for being stingy and self-centered. "What we're trying to do is give women an opportunity to participate in the wealth-creating process of the technology boom. At the same time, we want to educate entrepreneurs about what it means to have wealth and to reinvest in their community," says Catherine Muther, founder of the Women's Technology Cluster. Ms. Muther embodies both objectives. In 1994, she shared in the enormous wealth generated by Cisco Systems of Santa Clara, Calif., by cashing in a bundle of stock options and walking away from a top executive marketing position. She used $3 million of the proceeds to establish the Three Guineas Fund, named after the book by Virginia Woolf and dedicated to school and workplace opportunities for girls and women. The Women's Technology Cluster is the foundation's newest venture. The cluster, which will house 20 or 25 firms, is built on a model that has a proven track record. Across the country, clusters and so- called incubators have sprouted in recent years to help entrepreneurs in a common field work side by side. They save money through economies of scale and allow otherwise isolated entrepreneurs to tap into established networks of mentors. Cluster provides valuable networks James Robbins has established seven such business clusters, all focused on technology, across California and is developing the women's cluster for Muther.
