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Entrepreneurship Research Center on G20 Economies VOL.13 January 2020

Impact Report: Investing in the Power of Women in China

after graduating from Goldman Sachs'
Dreams Program, they are more confident
in applying new technologies, and 56% of
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graduates generate more than a quarter
of the revenue generated by online sales.
● Giving back to the community: After
the course, more than three-quarters
of the graduates thought that their
social influence had increased, 43%
of the graduates started to carry
out businesses related to local
poverty alleviation, and 90% of the
graduates coached other women in the
community. The total number of other
Tsinghua School of Economics and Management (SEM) and Goldman Sachs 10,000 Women women tutored by Chinese students at
launched a report completed by the Entrepreneurship Research Center on G20 Economies Goldman Sachs' Dreams Program each
on November 20th, 2019, which examines the impact of the business and management year has exceeded 12,000.
education program in China over the past ten years. The report was launched at the first- ● Talent training, skills improvement, and
ever Goldman Sachs 10,000 Women alumni summit, celebrating the 10th anniversary employee development: Goldman Sachs
of the program, hosted by Tsinghua SEM. More than 400 Goldman Sachs 10,000 Women 10,000 Women graduates have more
graduates attended the event officiated by Tsinghua SEM Dean Bai Chong-en, and David investment in staff training than before.
Solomon, Chairman and Chief Executive Officer of Goldman Sachs.
Within 30 months of graduating, 96%
Professor Gao Jian, the Director of Entrepreneurship Research Center on G20 Economies, of graduates provide training for their
launched the report "Investing in the Power of Women in China: Impact Report on Goldman staff, and 79% provide formal written
Sachs 10,000 Women, " and shared some key findings. He said that graduates were feedback to their staff.
increasing revenue, contributing to job creation, and productivity. On average, graduates ● Access to capital:10,000 women
quadruple their revenue within 30 months after graduation, at an average rate of 78% per graduates are encouraged to seek
year; they hire 55% more staff, at an average rate of 19% per year, and they triple their external capital to support their growth
productivity at an average rate of 51% per year. The main findings are as following:
ambitions. A third of graduates applied
● Revenue, job creation, and productivity: Goldman Sachs 10,000 Women graduates see a to receive external funding to support
significant increase in revenue, job creation, and productivity. Graduates quadruple their their growth and 38% of participants
revenue within 30 months after graduation, at an average rate of 78% per year; they hire said that 10,000 Women connected
55% more staff, at an average rate of 19% per year, and they triple the productivity at an them to this opportunity.
average rate of 51% per year.
● Accessing new markets: Around one
● Driving Innovation:10,000 Women graduates exhibit a high degree of innovative behavior in five participants is actively involved
following the course. They are conducting researches and launching new products, in international markets, selling their
improving the quality of services, and expanding to new locations. 44% of the graduates goods and services abroad. They also
launched new products or services, 57% improved the quality of an existing product or see opportunities for expansion with
service, 40% developed a new product or service, and 21% opened a new location. China. Within six months of graduating,
24% of the graduates offer their
● Taking advantage of the internet and technology: Embracing new technologies can help products or services in a new area
companies grow faster because in the process of using new technologies, graduates improve within their city or elsewhere in China.
business efficiency and use the Internet to enter new markets. 68% of graduates believe that