Why Women-Owned Startups Are a Better Bet; 5 Best Smart Jewelry Pieces with Hidden Features; 5th edition of Europe-wide remote Female Founder Office Hours + more
Your go-to place for the latest news and updates on diversity in tech and emerging technologies - wearables, health tech, and IoT.
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In 2018, BCG recently partnered with MassChallenge, a US-based global network of accelerators that offers startup businesses access to mentors, industry experts, and other resources. Their objective was to see how companies founded by women differ from those founded by men. In a review of five years of investment and revenue data, the gender-focused analysis showed a clear funding gap:
Investments in companies founded or cofounded by women averaged $935,000, which is less than half the average $2.1 million invested in companies founded by male entrepreneurs.
Despite this disparity, startups founded and cofounded by women actually performed better over time, generating 10% more in cumulative revenue over a five-year period: $730,000 compared with $662,000.
In terms of how effectively companies turn a dollar of investment into a dollar of revenue, startups founded and cofounded by women are significantly better financial investments. For every dollar of funding, these startups generated 78 cents, while male-founded startups generated less than half that—just 31 cents.
The investment gap is real—and larger than we thought—but there are ways to help close it. By understanding the kinds of biases that put women at a disadvantage, VC firms and investors can make more objective funding decisions. Accelerators can help in terms of mentorship, resources, and networking. And women founders, while lobbying for long-term change, can operate intelligently within the current system.
Read the full story here.
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Upcoming WoW webinars and virtual meetups 🌎 📆
Happening this Wednesday 👇🏽
📌 Webinar - Future of Work for Women: The ‘Motherhood Penalty’ and The Gender Pay Gap, March 24, 6pm GMT (FREE to attend, last few tickets left!)
Happening in April 👇🏽
📌 WoW Members Meet & Greet, April 7 (10am and 6pm BST, for all WoW members)
📌 WoW Members Meet & Greet - Wearables, Fashion and Fashion Tech, April 14 (10am and 6pm BST, for WoW members in wearable tech and fashion tech space)
📌 Webinar - Fertility Innovations: New Solutions for Future Choices, April 15, 6:30pm BST (FREE to attend, in partnership with The Fertility Partnership)
Interested in joining us for one of our future webinars or you would like to discuss partnership and collaboration? Get in touch!
WoW community events, news, and updates 💻🌎📆
➡️ Join the 1st Swiss FemTech Accelerator – Tech4Eva, a joint program between EPFL Innovation Park and Groupe Mutuel for companies developing innovative solutions to improve technologies relating to women’s health and to achieve growth. Deadline for applications is March 31.
➡️ Our friends and partners from the FemTech Lab have just announced its spring 2021 cohort, more info here.
➡️ Our member Lisa Krapinger is planning a TV spot and is at the stage of gathering inspiration and favourite spots. She is looking for best practices and favourite female empowerment TV spots. Have an idea or suggestions? Get in touch!
➡️ Gamification: Why No One Cares About Your App! - writeup by our member Kelly Vero
➡️ Tech Tools for the Modern Family / Lettuce Eat Cake - writeups by our member Briehan Burke
➡️ Five Myths About Menstrual Cups, blog post via our members Lunette
➡️ Two Finance and Strategy Graduate students from Copenhagen Business School Theresa Müller and Alessia De Stefano and currently conducting interviews for their master thesis about the femtech industry and female entrepreneurship. For this research, they are looking for female founders of femtech companies, willing to be interviewed. The interviews will be held online between the 22nd of March and 2nd of April 2021 and last approximately 1 hour. Get in touch with them via LinkedIn (links above).
Industry events, news, and updates 💻🌎📆
5 Best Smart Jewelry Pieces with Hidden Features
Amazon is expanding Amazon Care telehealth service nationally for its employees and other companies
VC firms strive to improve diversity with new industry certification
Nike’s Film on Motherhood Celebrates Female Strength
How The Investment Ecosystem Is Shifting This Year
Women's Health Strategy: Call for Evidence, by Department of Health & Social Care (UK)
The new Google Nest Hub tracks your sleep without wearables or cameras
Edge computing poised to give AR wearables a big boost
Mending Is The Next Radical & Accessible Movement In Sustainable Fashion
With tradition and new tech, these Japanese designers are crafting more sustainably made clothing
How This AI Startup Plans To Shake Up The Online Fashion Industry
Arab Feminist Sexual Revolution Turns Mainstream
For Female Founders, Women In Tech & Allies 👩🏾⚕️👩🏼🏫👩🔬
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