Last year, pre-COVID-19, two of the most underserved groups—minority and women founders—were on the rise. However, “there is still a long way to go to close the gap for women of color,” Harlem Capital partners express.
Women entrepreneurs are hugely underrepresented in the tech startup world. As reported by the New York Times, “Only 9 percent of apps are created by women; 10 percent of innovative start-ups were founded by women.” With such woefully low numbers, I wanted to know how to help more women entrepreneurs break into tech. Before providing some ideas here, we have to first understand what the challenges are.
When Sapphire Bates first had the idea for The Coven, a digital networking community that connects self-employed women all over the world, she had no real notion how she was going to turn it into a viable business.
The female-founded organic period product brand ohne is heading into its second round of investment pitching with a pledge to take femtech one step further. Rather than simply collecting data to inform people of their own cycle and fertility patterns, ohne will be using technology to highly personalise its products, community and content to each individual.
In 2018, female founders generated $26.3 billion when they exited their companies either through acquisitions or IPOs, according to the new PitchBook and All Raise report, Women in the VC Ecosystem.
Low-income countries, especially in Sub-Saharan Africa and Latin America, have the highest rate of female entrepreneurship compared to higher-income countries. For every ten men engaged in entrepreneurship, every eight women are doing the same in low-income countries. This is to be celebrated.