Gender Gap Persists in Web3 Start-ups

03/06/2023 00:36 • Metaverse Matters • 128 views

On March 6, according to a new report by BCGX, Boston Consulting Group (BCG) and People of Crypto, only 13% of Web3 founding teams include women. In the founder’s data, only 7% are women. The report also found that Web3 start-ups founded by men raised almost four times as much money as those founded by women, a gap greater than other start-ups.

Data: The proportion of women in the founding team of Web3 is only 13%

Interpret the above information:

The recent report by Boston Consulting Group (BCG) and People of Crypto sheds light on the lack of gender diversity in the Web3 start-up ecosystem. The report reveals that only 13% of founding teams in Web3 start-ups include women, which is much lower than the average across all industries. Even more concerning is the fact that only 7% of founder’s data is women, indicating that women are severely underrepresented in leadership positions in this tech sector.

Moreover, the report shows that investment flows are also heavily skewed towards male-led start-ups, with Web3 start-ups founded by men raising almost four times as much money as those founded by women. This gender gap in funding is even greater than the one observed in other start-up sectors, revealing the extent of the problem in the Web3 space.

Why do women remain largely absent from Web3 start-ups? There could be various reasons for this, including systemic bias in the tech industry, a lack of female role models in blockchain and cryptocurrency spaces, and limited access to capital and mentorship networks. To address this issue, more concerted efforts need to be made to support and encourage women’s participation in Web3 start-ups. This could involve initiatives that promote diversity and inclusion, such as mentorship and training programs, networking events, and investment schemes that prioritize women-led start-ups.

Moreover, companies should take proactive steps to foster a culture of inclusivity and openness. This may mean implementing practices that promote a safe and respectful workplace environment, encouraging diversity in recruitment and hiring practices, and promoting female leadership through promotions and leadership roles. The report data may serve as a starting point for such efforts, as it accentuates the value that female representation can bring to Web3 start-ups in terms of innovation and growth.

In conclusion, the BCGX report highlights the urgent need to address the gender gap in Web3 start-ups. Without greater diversity and equity, this tech sector may miss out on the valuable input and insight that women can provide. Therefore, concerted efforts should be made to promote female leadership, investment, and mentorship in this vital sector of the digital economy.

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Gender Gap Persists in Web3 Start-ups

Data: The proportion of women in the founding team of Web3 is only 13%

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