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Gender gap in female-led blockchain startups. Women's companies received only 6% of investments

4 March 2024

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The number of startups and new companies led by women saw a slight increase from 8.3% in 2022 to 8.6% in the third quarter of 2023. A research by Bitget discovered that the gender gap is present also in this new workfield and this is due to the investments. Over the past two years, a research team has been studying, based on qualitative and quantitative data, to provide a transparent overview of the gap in investments received by male- and female-led blockchain startups between 2022 and 2023.

Some characteristics that emerge from the research are that:

•There is a strong need for incubators capable of nurturing start-ups founded by women and promoting a more inclusive and encouraging environment for their development

• Fundraising by blockchain startups declined 70.1% per quarter between Q1 2022 and Q3 2023.

•During the study period, blockchain startups raised $27.85 billion, with female-led blockchain startups securing only 6.34% of overall funding

•The number of female-led blockchain startups has declined by 45.2% since the start of 2022, but is already showing a recovery

The report's data

The data about female-led blockchain startups is influenced, as Il Sole 24 Ore reported - by overall investment trends, the cryptocurrency market situation, investor sentiment and investor prejudices. At the end the result is that more than 90% of funding going to male-led projects. In relation to these numbers, the exchange therefore decided to launch the Blockchain4Her initiative, that allocates 10 million dollars to promote gender diversity and inclusiveness in the blockchain sector.

Gender bias has been proven to have a determining effect on investments, as statistics indicate that male-led startups have attracted $27.85 billion, while female-led blockchain startups have raised $1.77 billion, only 6.34% of the total amount. Based on this information, the amount of investments in start-ups has decreased, but does not present the same constant downward trend recorded in the previous year. Quantitative indicators of startup operations also decreased.

Gender differences on blockchain workfield

The new economic system was born with an equality and democratic aim. We need this to be also in order to create the same opportunities for new companies that wants to open this market crating jobs. The disparities highlighted by the study underlines that we must proactively work to create an ecosystem where talent and potential are the only criteria, without gender bias. Every work sector needs to become an inclusive environment, where everyone, regardless of gender, enjoys equal opportunities.

SOURCE: Il Sole 24 Ore

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