International Day of Women and Girls in Science: Diversity in entrepreneurship brings better ideas and businesses.
This week we are celebrating the amazing advancements women have brought to the field. At Allied for Startups we want to celebrate women entrepreneurs in particular those working in STEM: science, technology, engineering, maths, computing (think AI), health and all things-science!
Including women is good for everyone. According to the Kauffman Foundation, women led tech companies are more capital-efficient, achieving a 35% higher ROI, and, when venture-backed, 12% higher revenue than startups run by men. Women scientists are innovators and leaders – developing solutions to our world’s most pressing problems.
The Global Entrepreneurship Monitor from 2018/2019 reported that the trend worldwide shows there are 7 women entrepreneurs for every 10 men entrepreneurs. Out of 48 economies surveyed by GEM in 2018, only six of them show roughly equal TEA (Total Entrepreneurial Activity) rates between women and men. However, fortunately, globally the share of women entrepreneurs has increased by 10% since 2014. We are headed in the right direction but there is still a lot of work to be done.
Speaking on the issue, Melissa Blaustein, Founder and CEO of Allied for Startups said:
“It’s time to close the gap between men and women in STEM by supporting female entrepreneurs in science. Statistics show time and again that investments in women led startups produce winning businesses. Let’s use this week to celebrate the achievements of the women in science who came before us and continue to blaze a trail for those that we will meet ahead.”
Tackling some of the 21st century challenges head on – such as the response to climate change – are going to require a lot of talent. It just happens that 50% of global talent is female. Women are a source of untapped potential. That’s why we should empower, promote and support women in science. We can do that by dismantling gender stereotypes, facilitating access to education and promoting women leaders.
Our Continental Council Member Doina Popa, Leads Codette, an AFS member organization that promotes diversity and education at all levels and creates opportunities for women to work in a technical field. We asked her for advice for women in science, she said:
“Maybe the sincerest advice that I can give for women in science is to be kind. In tech or other fields barriers may come across. So be kind to you, to your potential and your dreams. Be kind to your colleagues and community, empower their initiative, whatever forms they come from. This elegance of thought and action, I always found it to be a real solution for inclusion, especially for women carving a space for themselves in challenging fields like tech.”