30 Oct Women Still Have Less Access To Fundraising, But Tech Can Help
According to a recent report, just 0.5% of female founders make it past a Series C funding round. And, despite efforts to improve access for women in business, female-founded startups raised only 2.2% of U.S. venture capital investment in 2018. Across different fundraising levels, women in business face roadblocks that their male counterparts often don’t encounter. Whether these roadblocks stem from a lack of network, awareness or other issues, there is an opportunity for the tech industry to step up and contribute to resolving some of these bias-driven problems that are so commonly found at the core of tech communities. Here are a few ways that technology can serve women in business when it comes to fundraising:
For many women, tackling networks and valuable connections comes down to creating new communities altogether. Technology has opened up the composition of these communities, connecting more female founders around the country to share resources. Organizations such as Femstreet, Female Founders Alliance and Women TechMakers are cropping up to provide connectivity, shared support and helpful insights for women founders.
Tech For Change
New tech solutions are positioned squarely in the midst of these fundraising challenges. Platforms such as DifferentFunds provide opportunities for investors to fund “impact” projects, teams and ideas. Many investors may have an increasing interest in impact investing, but lack the access to understand where their funds should go and which founders or teams they could support. Platforms that identify and present impactful investing options represent a tangible way that technology can correct a bias-based problem.