The MBA grads who became social impact women entrepreneurs

The topic of women entrepreneurs always follows with how underrepresented they are. 

Only 12.2% of women in South Korea engage in entrepreneurship. In China, it’s 9.3%, and India has 8.7%, according to Asian Business & Management.

It’s dismal but comes with little surprise. A 2018 survey revealed that women entrepreneurs pay themselves 28% less than their male counterparts, and in 2022, women-owned businesses in the US generated less than US$50,000 annually.

This, however, doesn’t stop the high achievers and dedicated dreamers from making their mark in the scene.

How great women entrepreneurs are raised and shaped

Born and raised in the Philippines, Wincel Kaufmann never felt held back by her gender. She grew up surrounded by strong, independent women and knew she was one of them.

“I was fortunate to grow up around women,” says Kaufmann. “I went to an all-girls Catholic school, and all the teachers were women. My mother’s also a single mother, as my father passed away when I was young, making her the breadwinner and main caretaker for all her children.” 

It’s part of the reason why Kaufmann is such a go-getter.

After earning her BS in Economics from the University of the Philippines, she moved to Singapore to pursue her career and lived there for over 10 years. There, she also completed an Executive MBA at INSEAD Singapore. 

Today, Kaufmann lives in Switzerland and is on the advisory board of the Solar Impulse Foundation, which supports start-ups in solving climate issues. She is also the founder of blueColab, a sustainability platform for business professionals.

Like Kaufmann, Anna Ong’s life started in the Philippines too.

There, she completed a BSc in Philosophy and Business Management from De La Salle University, and upon graduating, built a career in the banking industry and eventually landed a role as the Head of Treasury and Sales at Amalgamated Investment Bancorporation.

By then, however, Ong felt like she had hit a wall — it seemed as though she had reached the peak, though she knew that was far from true.

Her solution to the problem? Get an MBA.

With that, she moved to Singapore to pursue an MBA at INSEAD and spent another eight years as a banker post-graduation before making one major life and career pivot: founding What’s Your Story Slam, a place for her and others to tell their stories and empower those watching.

Study International had a chance to speak to Kaufmann and Ong about their journeys as women entrepreneurs, and this is what they had to share:

What are the challenges women entrepreneurs face? 

Ong: Women entrepreneurs aren’t taken seriously.

If you’re looking for sponsors for your business, it’s sadly still a boys’ club thing — men sponsoring men — especially when you’re in tech. 

My business is about storytelling. It’s been a couple of years since I established it, and I still get messages from men going, “So, it’s (What’s Your Story Slam) like a hobby?” I’ll respond, “No, my job is not my hobby — it’s a proper business.” 

Even if they were to watch a show, they still wouldn’t understand the mission of my business.

They’ll still go, “It’s nice that you have a little hobby that you call a job.” I think it’s because if a man says he’s running a storytelling business, people would view it differently, and the man will be taken seriously.

In the speaking business, you’ll realise that 80% to 90% of the speakers are men. Even in Singapore, I think I’m one of the few women who have tarted their show, and the rest are all men.

Kaufmann: Even in 2025, a lot of women from many societies are expected to be caretakers, whether it be caring for their children or ageing parents, all while working full-time. 

It’s like a default setting that many expect women to do, and if they don’t, it backfires on them.

It shouldn’t matter if you’re a man or woman; the responsibilities should be shared. Once it’s addressed and shared, it will become easier for all parties. No one should be burdened, especially when caring for others on their own.

Sometimes, the repercussions affect the self-confidence a woman has in herself.

You can do what you want without worrying about others. It has to start with us as individuals. We must build this belief that it doesn’t matter if we’re a woman — we can do it.

How did an MBA help both of you become better women entrepreneurs?

Ong: It helped me level the playing field and gave me the confidence I needed.

When working in the Philippines, I was already the head of a team, but I was too young to be promoted, and I was already reporting to the company’s CEO. 

So I was feeling stuck as I hit the ceiling in my career.

When my partner, an INSEAD graduate, recommended me to pursue an MBA, I questioned it. I asked myself, ‘Why would I get an MBA?’ and ‘I make more money than those who have MBAs who apply to work under me.’

The thought of quitting my full-time job and returning to school was scary. But at that point in time, I had no idea that getting an MBA would be transformative.

Getting an MBA helped me on my journey to becoming an entrepreneur as it helped me learn how to prioritise and manage my time wisely. 

Not only will you have a heavy workload and curriculum, but you’ll also have to network and rest. It forces you to make the right choices and allocate your time to do what you must.

At the end of the programme, it made me realise that all of us who graduated, both men and women, are now on the same level. It doesn’t matter if they were on a higher level than me when we first started the MBA.

There’s no amount of external validation that you can get to make you feel confident in yourself. It’s primarily internal, but getting an MBA has given me self-confidence.

Kaufmann: I joined the Executive MBA programme because I wanted to join a school and programme that would reflect my international background.

I’ve lived in the Philippines, Singapore, London, and Hong Kong — to me, that’s an advantage I have.

And thanks to my MBA, I’m now writing a book about sustainable investing called “Real Returns” and I founded a company that advises young professionals about what sustainable investing is.

There’s also an executive coaching programme at INSEAD that helped change my mindset. They don’t care if you’re a man, woman, or any other gender you identify with — you’ll learn how to build a strong mindset.

Whatever life throws at me now, I now can do it. Even if I can’t do it, I’ll learn how to.

How do you support other women in achieving more in their careers?

Ong: I have a top voice badge on LinkedIn, and I post a lot about why we need to tell our stories and show more of ourselves, especially in the workplace. If you don’t do that, somebody else will get the promotion or acknowledgement you want.

We were conditioned as young girls not to show off because it’s not attractive. I think it’s about time for us to understand our worth and show people that we know our worth.

A lot of my posts relate to that.

I’ve gotten a lot of women reaching out to me saying that whenever they read my post, they feel empowered to speak up.

I also facilitate networking events for women in Singapore. We’ll meet in small groups of 10 individuals and discuss how we can help support each other.

Kaufmann: I make sure to look out for an imbalance of genders in an organisation. 

I’ll ask questions like, “Are there any women in the group?” or “Are there any women in the start-up that need a little more support or encouragement?”

Looking out for things that often go unnoticed and unseen is part of my job.

I’m also a partner in the Woman of the Future Awards, a movement focused on collaboration and kindness in the workplace that galvanises a community of women to work together. 

I was among the first few individuals to bring the awards from the UK to Southeast Asia.

My continued support through this award is important because I want to ensure that women participating have the right tools and a strong mentality. 

They’re fighting for a cause. So, I want to get involved and provide support where needed.

How do you juggle life as women entrepreneurs?

Ong: Learning how to prioritise things from my MBA days, I live by my calendar. I even block time for my family’s weekly Zoom call. 

I have one sibling living in the US, and my mum and other sibling are in the Philippines, which means we are all in different timezones, and planning is needed. 

So, blocking out a time for us to have a meal through Zoom is crucial. If it’s not on my calendar, it won’t happen. 

This is also a good reminder to check up on my family; otherwise, I’ll just get lost in the thick of things.

I also started evaluating the value of my time, and often ask myself, “Do I need to do them myself?” or “Can I delegate it to someone else?” 

So I hired a personal assistant. I have an assistant who does a lot of things that can be done by others, such as following up with people. 

It removes a lot of workload off me; unless it’s an issue she can’t solve, I’ll get it done personally.

Kaufmann: I have a dog and a husband, but no children. But I believe that it’s always best to split the tasks 50/50, even if you have no children.

I noticed that many women entrepreneurs and workers often struggle to balance running a company and performing their caring responsibilities at home.

Taking care of children or managing households often fall on women by default, but in an ideal world, shouldn’t it be a shared responsibility?

It’s challenging to find strong partnerships, especially an equal one. 

If you can’t split the responsibility, a way to do it is to get external support from extended family or even household help if you can afford it.

What advice do you have for aspiring or younger women entrepreneurs?

Ong: I would tell people storytelling is a form of personal branding, and they need to know how to tell their story in a sufficient manner — whether it be by introducing themselves, networking, or even using social media.

When you know your story and who you are, that’s the best way to connect with others and showcase your value.

I find that a lot of the time, most people don’t want to understand their own story, but once they take the time to see their inner worth, it will help them build the self-confidence they need.

Through their confidence, credibility in what they do will naturally seep in.

Kaufmann: Go beyond what a traditional leader is. The best thing that any organisation can have is to have a leader who generally cares for both the business outcome and the well-being of their team. 

That’s where real power is.

I understand that it’s scary to come off as “too loud” or “too much,” but eventually, you’ll overcome this and slowly step out of your comfort zone. 

It’s a real superpower to have, and organisations will be lucky to have someone who can see a wider perspective of things.