#52Women52Weeks: Kay Koplovitz broke the television glass ceiling and now encourages women to do the same in raising capital

Kay Koplovitz is the founder and former CEO of USA Networks and co-founder/Chairman of Springboard Enterprises, a non-profit accelerator that has fostered the investment of more than $7 billion in women-led firms. In 2016, she co-founded the Springboard Fund and Springboard Growth Capital, a vehicle that allows investment in alumnae companies from Springboard Enterprises.

1)  How difficult was it for a woman to break into network television when you first started out?

There were no women running any television networks when I started back in the '70s. And we should remember that there were only three commercial broadcast networks and in some cities, public television. 

I actually got my motivation as a student when I heard an amazing lecture in 1966 on geosynchronous orbiting satellites given by a well-known science fiction writer, Arthur C. Clarke. It was during the time of the cold war, and we didn’t know what was behind the Berlin Wall or the Great Wall of China. The opportunity to utilize these satellites for international communications that could penetrate beyond those walls absolutely captivated me. It was an idea that would never let me go. 

So I went on to write my master’s thesis on satellites and their potential impact on global communications. It took me some years of working in satellites and the cable television industry to mature my idea of launching a satellite and cable television network, but that opportunity finally arrived in 1975, with the live telecast of the “Thriller in Manila”—the heavyweight boxing match between Muhammad Ali and Joe Frazier—to industry luminaries which electrified the audience and changed the course of television history.

I was there to promote the event, which demonstrated the viability of satellites to deliver a clear signal of cable into homes. It was the night that launched my career in television. Out of that event, we launched Madison Square Garden Sports (which became USA Network) to a national audience two years later. It was exhilarating to realize a dream and lift the cable industry into the television business with a new business model to support programming for the cable industry. 

If I had not had that dream inspired by Arthur C. Clarke, I don’t know where my career would have led me. I will always cherish that serendipitous moment when he ignited my vision, my passion and my will to succeed as an entrepreneur, and yes, the first woman to head a national television network.

 2) Why was television so important to you on your road to success?

When I started college, I didn’t really know where it would lead me. I thought it would be great to work in the Foreign Service, take assignments overseas. I liked biology and thought something in the medical field would be great. But I didn’t really have just one interest—I had many. That’s why I was so lucky to have heard that lecture by Arthur C. Clarke. One of my jobs working my way through college was as a producer at a TV station in Madison where I attended the University of Wisconsin. So television was not a far-fetched professional path for me. I just saw the exponential growth possibility in expanding the television business and later learned that I loved the creativity of business. I convinced myself that I could break new ground and set about working in the business of satellites, television, and cable to pull together the experiences and know-how needed to launch a television career. Many people were helpful to me along the way, but the dream was mine.

 3) What inspired you to write Bold Women, Big Ideas: Learning To Play The High-Risk Entrepreneurial Game?

In 1998, President Clinton asked me to Chair the National Women’s Business Council. The primary responsibility of the Council was to report to Congress on the progress of women-led businesses. While interesting, I was more interested in getting women into private equities to raise capital for their businesses. That interest led me to Silicon Valley—the mecca of venture capital—to learn what I could about venture. What I learned was that women weren’t being rejected by venture capitalists, they just weren’t even connected with no way to enter the male-led investment teams that populated the valley then, and I might say now. So, along with Amy Millman, then Director of the National Women’s Business Council, I pulled together a team to see if we could find enough women-led businesses in technology and life sciences to present their companies to venture capitalists. It was a completely foreign idea in Silicon Valley back in 1999, but we did our call out for applications anyway. 

To our surprise, 350 applications showed up. We were blown away. I knew then that this was a vastly underfunded sector. Twenty-six companies were selected to go through our boot camp and coaching program. When they presented on January 27th, 2000, they amazed the audience of investors. Twenty-two companies got funded, two women merged their business, one sold hers, and one wasn’t funded. 

Bold Women, Big Ideas is the story of Springboard’s first year, written to inform and inspire women entrepreneurs to dream bigger, reach higher and know that we were creating a pathway for their future success.

4) You often speak about human capital. What does human capital mean and why is it important?

Human capital is the secret sauce of fundraising and company growth. It is so important to have the right talent inside the company and the right network of advisors outside the company. It is this human capital network that helps you meet the benchmarks for a series of funding rounds and the internal human capital, or talent, is what drives your team to get you there. It is never too early to build your network of human capital. As the saying goes, "It is important to drill the well before you need water to drink." 

5) You've served as Chairman and as a member on many public boards. Should entrepreneurs seek out board memberships to help foster their own successful careers?

I think entrepreneurs starting out do not generally have the time or experience to serve on public boards. Today, in addition to having the right experience and skills, these boards take between 200 and 250 yours per year. No serious entrepreneur can spare that time. However, the opposite is also true. Entrepreneurs should seek to form advisory boards even at early stages of their company to tap for advice and introductions all entrepreneurs need. 

Connect with Kay Koplovitz HERE

Meet women who are changing the world every Thursday in the #52Women52Weeks series!

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