Navigating the tech industry as a female entrepreneur requires overcoming persistent gender barriers. Belinda Luis has decided to tackle this challenge with not one, but two ventures. In 2021, she co-founded virtual reality and augmented reality startup Titans Tech and followed it up with the launch of virtual influencer startup Genexyz in 2022.
“Entering a male-dominated industry as a female co-founder has certainly presented challenges. It can be unfortunately common to encounter individuals who question your capabilities or make judgements solely based on your gender,” she says in an interview for DealStreetAsia’s recent report on the gender funding gap in Southeast Asia.
Luis says she was fortunate to connect with female investors who had walked a similar path and were ready to share their hard-won experiences.
“Having the opportunity to connect with female investors was incredibly valuable… They offered valuable insights on navigating the challenges and opportunities specific to a male-dominated industry,” she added.
The Genexyz co-founder and CEO says she is hopeful of a future with a level playing field for all, especially as more female-led venture capital (VC) firms emerge in the region.
The full interview is below:
What prompted your journey into entrepreneurship?
The seeds of entrepreneurship were sown early for me. Growing up, I witnessed my father’s dedication to this field, and his passion undoubtedly rubbed off. He instilled in me a strong work ethic and nurtured my curiosity through investments in books, education, and stories. Biographies of iconic figures like Steve Jobs and Lee Kuan Yew revealed a world of possibilities, showing me that even as a young woman in Indonesia, I could make a difference through innovation and modernisation.
My father’s passing when I was 21 years old ignited a fire within me to solidify my future. While my subsequent 15 years in corporate settings were invaluable, a sense of unfulfilled potential lingered. I craved the ability to create a lasting impact and forge my own legacy.
In 2020, I finally decided to take the leap of faith and embark on my entrepreneurial journey. My foray into the tech space can be traced back to a childhood memory – my father gifting me a Tamagotchi, and his efforts to expose me to Japanese innovations. These experiences sparked a passion for technology and its potential to improve and enrich lives.
This passion culminated in co-founding Titans Tech, a gaming and immersive tech company, in 2021. My entrepreneurial spirit didn’t stop there. In 2022, I co-founded Genexyz, a company dedicated to creating virtual character IPs and utilising metahuman technology for B2B applications, including virtual assistants and customer service solutions.
To what extent has your experience as a female professional influenced how your company is run?
At our company, we prioritise diversity and inclusion in our recruitment process, aiming for a balanced team with both men and women. This diversity is crucial in today’s world. It brings together valuable perspectives, unique energies, and a wider range of skillsets that, when combined, create a healthy and thriving ecosystem for innovation and growth.
While this is still a work in progress, we have established efficient and effective internal and external systems to optimise our daily operations. We constantly learn from the best practices of established companies and prioritise building robust systems early on. This lays a strong foundation for scalability and future growth.
We maintain a high degree of adaptability and agility across all aspects of our business. We understand that the future is unpredictable, and we strive to be prepared to adapt to any challenges or opportunities that arise. This allows us to be responsive and proactive in navigating the evolving landscape of our industry.
Can you share your insights on the fundraising process you went through?
As an entrepreneur, the journey begins with a compelling idea. You need to validate that it addresses a real need in the market – especially when the market does not see it yet, particularly in an emerging market where dynamics can be different. This involves thorough market research to understand the potential and the need for building a sustainable business model. This model should translate into a clear and concise pitch deck that effectively communicates your vision and strategy to potential investors.
Mentorship and strategic investor connections become crucial at this stage. Mentors offer invaluable guidance, while aligning with the right investors who believe in your vision and can support your long-term goals is essential. Building strong networks facilitates knowledge sharing and opens doors to new opportunities.
The pitching process itself is a valuable learning experience. It involves multiple rounds, each offering constructive feedback and allowing you to identify supportive investors who truly believe in your business. While the process can be lengthy and demanding, involving due diligence and thorough scrutiny, the reward of successfully closing the round makes it all worthwhile.
Did you meet female investors during your fundraising efforts, and if so, did it impact your discussions?
Absolutely. Having the opportunity to connect with female investors was incredibly valuable. Several of them led our discussions, bringing a unique perspective that enriched our conversation beyond just business strategies. They offered valuable insights on navigating the challenges and opportunities specific to a male-dominated industry.
Furthermore, these investors were incredibly supportive. They not only offered their expertise but also connected us with potential clients and partners, significantly broadening our network and horizons. This support has been instrumental in our growth and success.
In your opinion, what are the benefits of having a female founder/co-founder?
At Titans Tech, my gaming and immersive tech company, I’m fortunate to have a female co-founder. This partnership brings several advantages to the table.
First, we both possess a deep understanding of the unique challenges and sacrifices women face in entrepreneurship, fostering a strong support system for each other. This mutual understanding fuels our commitment to creating an inclusive and supportive environment within the company.
Second, our diverse perspectives enrich decision-making and problem-solving. While we share a core vision for the company, our individual viewpoints broaden our approach and help us navigate the complexities of the industry.
Furthermore, our partnership ensures a balance between strategic vision and operational efficiency. Together, we effectively navigate day-to-day operations while maintaining a focus on long-term goals.
Finally, our collaborative nature fosters open communication and transparency throughout the organisation. This fosters a sense of trust and ownership among employees, which is crucial for a successful company culture.
What has been the most challenging aspect of your role as a co-founder?
Entering a male-dominated industry as a female co-founder has certainly presented challenges. It can be unfortunately common to encounter individuals who question your capabilities or make judgements solely based on your gender. However, I believe a successful co-founder needs to be fiercely dedicated to their field, possessing both the knowledge and the confidence to navigate the intricacies of the business. Ultimately, results speak louder than words, and demonstrating your expertise and value through your contributions is the most effective way to overcome these initial hurdles.
Do you believe female founders face additional hurdles in raising capital during the current funding climate?
Absolutely, increasing diversity in venture capital is a critical issue that’s been evolving, but the pace needs to accelerate. While recent progress is encouraging, there’s still a significant gap in representation and access to capital for female founders. As we move forward, I’m hopeful for a future with greater diversity and equal opportunities across the board. Additionally, the rise of female-led VC firms holds immense potential for creating a more positive and impactful funding landscape for female entrepreneurs.
Why do you think there’s a scarcity of women-led startups, and are there any unique factors in Southeast Asia contributing to this trend?
While historical social norms in Southeast Asia (such as traditions and culture where women are expected to be responsible and focus on the household) may have presented challenges for women in entrepreneurship, the landscape is evolving rapidly. We are witnessing a surge in women-led startups across diverse industries, which is incredibly inspiring. This growth reflects a shift in societal attitudes and a growing recognition of the immense potential female entrepreneurs bring to the table.
What advice would you offer to aspiring female entrepreneurs?
For me, being an entrepreneur is about having ownership and impact. It’s about taking ownership of your ideas, your vision, and the trajectory of your venture. This ownership translates into a powerful sense of impact, the ability to shape something meaningful and create a positive ripple effect. That’s the core message I want to convey through my advice to aspiring entrepreneurs. Here are a few key points:
1. Embrace disruption: Don’t be afraid to break the mould. Challenge the status quo and explore unconventional approaches. Innovation often thrives outside the comfort zone.
2. Cultivate confidence: Confidence is your armour. Be confident in your abilities and your vision. While acknowledging your fears, don’t let them become roadblocks. Learn to confront and overcome them.
3. Develop grit and adaptability: Possess unwavering grit and perseverance. Be prepared for challenges and setbacks. Embrace the constant nature of change by being nimble and adaptable.
4. Prioritise continuous learning: Never stop learning. Embrace the growth mindset and continuously seek new knowledge and skills to stay ahead of the curve.
5. Foster collaboration: Recognise that no one succeeds alone. Seek out support, build a strong network, and collaborate with others who share your passion and complement your skillset.
6. Pay it forward: Helping others isn’t just about them; it’s about building a positive ecosystem and fostering a sense of community. The act of giving back can be a powerful source of motivation and inspiration, both for yourself and your fellow entrepreneurs.
Remember, the entrepreneurial journey is a marathon, not a sprint. By embracing these core principles and staying true to your vision, you can navigate the challenges and create a lasting impact.
