Rose Vitale returns to Metro Detroit. She brings Silicon Valley energy. Her focus is women-led startups. Vitale is a native of Warren, Michigan. She spent two decades on the West Coast. There, she worked in prepaid wireless. She also gained experience in venture investing. Now, she is launching the Female Founder Institute. This nonprofit is her first major Michigan project. It aims to bring innovation to Detroit.
A Homecoming with a Mission
Vitale founded the Female Founder Institute in May 2024. She is investing $1 million into its Royal Oak space. The institute will offer co-working space. It will also provide startup coaching. Capital-building classes are also planned. Female founders often struggle for funding. Vitale believes women are an underutilized asset class. She wants to bridge the gap between San Francisco and Detroit. The institute also plans a location in San Francisco. Royal Oak offers a central location in Metro Detroit.
Addressing the Funding Gap
Women-led startups face significant challenges. In 2023, women founders received much less funding than men. Globally, startups founded solely by women raised only 1.8% to 2% of venture capital in 2023. In the US, this figure was 2%. African startups saw women leaders get only 1.5% of funds from 2019-2023. This disparity is stark. In Detroit and Ann Arbor specifically, women-founded companies underperform in VC deals. They trail companies with male co-founders by over $1 billion since 2015. This new institute directly tackles this problem.
The Pitch Competition and Gala
The institute is already hosting a $100,000 pitch competition. Fifteen finalists compete for investment. The event culminates in an awards gala. This gala, the FFI Legacy of Impact Gala, is scheduled for February 26th. The competition is for scalable ventures. It seeks founders ready to deploy capital. They must be building businesses that create impact. The winners gain a game-changing investment. All finalists get investor access. They also receive media visibility. A one-year membership to the institute is included.
Building a Stronger Ecosystem
Vitale’s vision extends beyond just capital. The institute will offer extensive support. This includes mentorship. It provides networking opportunities. Industry experts will offer guidance. Local law and accounting firms will partner. They will coach women on building financials. Classes will also cover intellectual property. The institute aims to foster collaboration. It wants women to learn to work together effectively. It will serve founders across all industries and experience levels.
Metro Detroit’s Growing Scene
Detroit’s startup ecosystem is evolving. It has historically been male-dominated. However, women are forging new paths. Organizations like Femology are creating spaces for female founders. Michigan’s venture capital ecosystem is also growing. In-state investors are active. The Female Founder Institute adds to this momentum. Vitale sees potential in the suburbs too. Royal Oak offers an open-minded culture. This mirrors the California ecosystem she knows.
A Vision for the Future
Vitale spent twenty years building success on the West Coast. She sold her prepaid wireless business to AT&T in 2013. Later, she founded DRA Family Office in 2019. This firm focuses on private equity and early-stage funding. Now, her focus is impact. She envisions over 100 Female Founder Institutes globally. Her initiative aims to empower women. It seeks to make entrepreneurship more equitable. This movement brings Silicon Valley’s energy home to Detroit. It supports the next generation of women-led businesses.
