As a Board Member I am very proud of what CEO Michele Tung has built with homeD. A startup with millions of revenues coming out of the gate! Thought leadership at the Modular Building Institute , the First Nations Housing & Infrastructure Council - BC and other industry organizations. #modularconstruction #girlpower But man (pun intended) I am so glad that I am not a woman and not an Asian! I witnessed Michele going through some strange experiences which I am told are indicative of what female and non-European entrepreneurs have to go through in Canada (fictionalized based on stories from a few other Canadian female and/or Asian entrepreneurs, no actual events): VC: "You don't offer venture returns so we can't invest". Entrepreneur: "We have a pipeline that will allow us to scale to over $100M in profitable revenue in 5 years. We can't promise you profitable billions because we don't think something like that can be achieved in such a short time frame." VC: "We want software deals and deals like we did with Adam Neumann who offered venture returns! Come back when your first buildings are finished." Entrepreneur: "We won't need any more venture capital once the buildings are up and we have profitable revenues. Good luck trying to find the next Adam (or Eve)." Incubator: "We want you to meet with 20 of our investors for diligence" Entrepreneur: "How much do these investors invest and what experience do they have?" Incubator: "Each of them invests $5,000. We have wellness experts, mental health coaches, SRED consultants, realtors. lawyers,... Unfortunately no one with hands-on construction experience but we want to talk to you because you are a racialized female." Entrepreneur: "I was born in North America and my mother tongue is English. At what point do you think I was racialized? Or do you mean radicalized? 🤣 " Hats off to RBC and RBCx for going their own way and supporting so many great female entrepreneurs! It is a strange world when the bigger banks are leading the investment community in terms of vision.
I’m humbled to share that I’ve been recognized as a Recipient of the 2024 RBC Canadian Women Entrepreneur Awards in the Ones to Watch category. This journey with homeD Modular has been nothing short of intense, challenging, and rewarding. Building something with the vision of making affordable, high-performance homes accessible to more people has been both a passion and a responsibility that I don’t take lightly. This award feels like a validation of all the late nights, the tough decisions, and the unwavering belief in what we’re trying to accomplish. But more than that, this recognition is for the team – the incredibly talented, passionate individuals who have given their all to help bring this vision to life. I’m beyond grateful to work alongside such an inspiring group of people. This is just the beginning, and we’re more motivated than ever to continue pushing the boundaries of what’s possible in the affordable housing space. Thank you to everyone who has supported me, believed in me, and been part of this journey. #Gratitude #AffordableHousing #Innovation #WomenInBusiness #homeDModular#RBC https://lnkd.in/dD7X7edH
Wal Van Lierop
6mo
Big congrats Michele. Well deserved!
Congratulation Michele.
Mischa Steiner
6mo
actual lol
Amazing! Congrats Michele Tung. Frank Christiaens, I can fully imagine that you're very proud!
Regional Sales Manager - Western Canada & Washington State at Talius
5moCongrats Michele!