India, July 9 -- Melinda French Gates has refused to fund her daughter's startup. During the Power of Women's Sports Summit, Gates revealed that her daughter has recently started a business. However, she clarified: "She got capitalized not because of my contacts, not because of me. I wouldn't put money into it."

As stated by Fortune, Gates noted that if it's a "real business," then external investors ought to be ready to back it. "She is growing from this," she remarked, noting that learning to handle rejection is essential for becoming a resilient entrepreneur.

While she did not mention her daughter's name, it is probably Phoebe Gates, who recently co-founded a fashion-tech startup, Phia, alongside her Stanford roommate.

Melinda's pos...