Petra Wetzel, creator of Glasgow brewery West, has launched an investment fund for women-led start-ups with £100,000 of her own cash.
West Women is offering seed capital, other financial assistance, and advice, to emerging female entrepreneurs within Scotland’s food and drink sector.
Ms Wetzel, 42, said: “I am tired of being the token female speaker at big industry events, and the only woman at boardroom dinners when the future of Scotland’s food and drink industry is being discussed, and I’m a bit fed up with being rolled out as the German blonde woman who runs a brewery – if I was an ugly bloke nobody would write about me.”
She said many female entrepreneurs with a business idea were put off by “somebody usually a man asking if they have a business plan or projections” and lacked encouragement.
“Everybody and their dog told me starting a brewery was a really rubbish idea and starting it in the east end and calling it West was silly. We have proved them wrong, we are employing 120 people now, we have built a bigger brewery and we have just invested £1m in a new event space.
“What I want this fund to target is women who basically start with an idea which they think is a great one, maybe they have seen a gap in the market which I haven’t spotted, but somebody has discouraged them.”
She went on: “I have been in Scotland 23 years, Scotland has made me who I am and there us a bit of gratitude to repay. I don’t want to see this money again, there are only so many shoes and things a woman can buy and I am putting my own money where my mouth is, I want to invest this for perpetuity. I will take absolutely nothing back out of the fund and any kind of dividends will be invested in something else.”
The entrepreneur came from Germany to study at Glasgow University and created West in 2006. It celebrated its tenth anniversary last month with the opening of a new £5m brewery and £1m Courtyard wedding venue.
Ms Wetzel added: “I am confident that the initial £100,000 fund will grow significantly over the years ahead."
Anyone seeking funding should contact info@westbeer.com or call 0141 550 0135.
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