Television is quickly becoming a space that embraces entrepreneurs. And a new show from Oxygen is carving out space for women and entrepreneurs of color.
Modeled similarly to the popular ABC show Shark Tank, reality show Quit Your Day Job will directly tackle the glaringly obvious gap left from the under-representation of women and entrepreneurs of color. In the first episode – which has already aired – three of the four investors are women, with only one being a woman of color. Though this may be low numbers than some would like, they are still far better numbers than most of the industry.
Mashable reports that not only do a low number of women come onto Shark Tank, but they “receive dramatically lower valuations than their male counterparts”. Research shows that women-led startups received about 5 percent of venture capital for new startups (a figure more depressing than the previously thought 7 percent). To put that in perspective – companies founded by men received an average of nearly $1.7 million, while their female-led counterparts only received about $781,000 on average.
Along with the numbers, women startup founders that do make it onto Shark Tank are still faced with troupes that rely on misinformation about women's ability to succeed in business. Quit Your Day Job is going to flip that on its head, as its direct market will be professional millennial women (who are also the fastest growing entrepreneurial demographic). Mixing advice for aspiring and underrepresented entrepreneurs with reality-show formula that is entertaining for viewers, Quit Your Day Job is a show that may help bring accessibility to everyone interested in entrepreneurship.