Women Celebrated Throughout FounderMade Innovation East
As women in CPG, going to industry events can be intimidating. Will I stand out? Will I be the only woman in attendance? Will I be treated differently than my male colleagues?
Attending the 2023 FounderMade Innovation East, we felt at home with women founders and investors occupying exhibit booths, speaking on panels, and walking the floor.
Created by CEO and founder Meghan Asha, FounderMade was acquired by global B2B media powerhouse Tarsus Group FounderMade. The organization hosts networking events for emerging wellness, beauty, and health brands to introduce them to new investors, retail partners, influencers, and media members. Asha and some of the original team members are still a part of the company.
"We are a mostly female team, and I think there is something to be said about changing the ratio in the business world," Asha said in an interview with Entrepreneur. "When I had my first company, I was raising money, and investors would ask, 'Are you going to get married? And do you want kids?' It was very judgmental, and I just had a baby during the pandemic! We are working our butts off, and we are taking market share while we're building the families of our dreams. And I think it's beautiful that you can truly have a work-life balance."
Innovation East definitely had a family vibe, with the products exhibited and the scattered babies and toddlers accompanying their parents on panels or in attendance.
In addition to the numerous women in attendance, we saw three other trends at the event.
1. #PerfumeTok is Trending. Cosmetics Business says #PerfumeTok has garnered 2.3 billion views, while its sister hashtag #FragranceTikTok has 1.1 billion as of February 2023. "The hashtag is serving up this discovery moment which equips the consumer with the tools to understand fragrance on a deeper level, which we have not seen on other platforms," explains Antonia Baildam, TikTok's Head of Beauty
Spotted at FounderMade was Inara, a neuroscience-backed experiential fragrance business combining the powers of scent and sound with the benefits of meditation. Each fragrance came with a pre-recorded meditation and sound journey and was co-founded by Elsa Bustamante and Youmna Aoukar. Generation Zers are likelier to purchase a product featured on TikTok without trying it first, a change from other consumers. This brings us to the second trend.
2. Teenagers Want Products Created Specifically for Them – Brands are focusing on the tremendous purchasing power of teenagers and their parents. At FounderMade, products explicitly targeted to those between the ages of 13-19 were aplenty. Sam+Leo, created by teen mom Dara Erck, is devoted to ungendered, clean products in environmentally friendly packaging for Gen Z. Currently, the company offers vitamins and deodorant specifically for those adolescents. We also saw Gryt, marketed as "Goop for the Next Generation." Founded by Caroline Kusnetz, Carly Kaufman, and Kathryn Beaton, Gryt is a tween and teen lifestyle brand that provides support through EWG-verified products, innovative education, and community.
3. Word of the Day: Ayurveda – We'll save you the Google search. Ayurveda is the ancient Indian medical system based on ancient writings that rely on a natural and holistic approach to physical and mental health. Ayurvedic medicine is one of the world's oldest medical systems and one of India's traditional healthcare systems. Dancing Elephant, a company founded on Ayurvedic principles, offers a ready-to-cook line of Kitchari in three flavors and was founded by Chandni Prasad and Saira Lamba Malhotra.
While there may seem to be little progress for women CPG founders (especially when you pitch to a room of Caucasian male investors), FounderMade Innovation East proved that the landscape is changing. As more women investors, distributors, buyers, and entrepreneurs continue to enter the space, the opportunities will (hopefully) grow.
In addition, we loved seeing the camaraderie between women at the event – championing each other's products, making introductions, and, most importantly, monitoring exhibit spaces during restroom breaks.
Women are the future of CPG – thanks FounderMade, for showcasing it.
Beth Kennedy (right), founder of Seconds Carrot Crackers, helped Melissa Martinelli (left), founder of Superfrau at her booth handing out samples, answering questions and promoting upcycling.