How educating women to become angel investors can help close the gender gap in entrepreneurship
UNSW Founders alum MaxiMinds founder Georgina Jarvis and New Wave Program Manager Victoria-Rose Tucker
Over the past few years, the entrepreneurial landscape has experienced a significant rise globally, yet women are still not getting an equal share of the pie. Last month Founderland published the Rise & Thrive report, which highlights the ongoing disparity in the entrepreneurial landscape, with only 2% of the $300 billion in global capital funding being allocated to women-founded startups in 2020. Yep, only 800 women-founded startups received funding, despite a rise in initiatives aimed at supporting female entrepreneurs, this disparity continues to persist, particularly for women of colour* in the startup world.
But here at UNSW Founders, the stats look remarkably different. More than 45% of the startups we have supported this year have a female founder which is more than double of the Australian startup industry average (22% according to Deloitte). We know firsthand that by equipping women with the knowledge, resources, and support they need to succeed in this male-dominated industry, we can create a brighter future for women in entrepreneurship, where their voices and ideas are heard and funded.
Our New Wave 2022 Cohort B winners took home more than $13k in prize money
The two key ways we are addressing the gender gap are our New Wave and Angel Investing programs. A powerful combination that aims to provide female entrepreneurs with the knowledge and skills to turn their ideas into successful businesses, and then connect them with the funding they need to grow.
One of the key benefits of the UNSW Angel Investor program is its focus on women-centric content and benefits. The program offers a comprehensive education on how to invest, how to find the right investment opportunities, and how to collaborate with other investors. Additionally, the program provides Diversity scholarships and works to create a network of like-minded women passionate about supporting female entrepreneurs. Past Angel Investing course participants such as Hannah Mourney from GiantLeap and Camilla Love, an active member of the Future Females in Finance Group, have gone on to pay it forward by investing in women-led businesses.
The program also provides opportunities for women startup founders to pitch, with the aim of building confidence and normalising the "women as investors" conversation. Additionally, the program introduces sessions to highlight the importance of diversity in investment, which is backed by research that shows that diverse teams perform better.
If you’re still wondering why these women-focused initiatives are so important, let’s look at the fact. Did you know that women couldn’t have their own bank accounts without their husband’s permission until the 1960s, and couldn’t get their own credit cards until 1974? The system has been rigged against us from the very beginning. And we're still lagging behind: on average, women only have about half the wealth that men do.
By educating women to become Founders & angel investors, we can help to close the gender gap in entrepreneurship & finance. UNSW Founders provides end-to-end support for women entering the startup ecosystem and is building a strong foundation for women to grow as founders and angel investors. This leaves a positive impact on the industry and helps to pave the way for a more diverse and inclusive future for female founders and funders.
*By ‘women of colour’, we refer to women who experience the effects and processes of racialisation, class, and gender domination as well as other sources of inequality, particularly hierarchies of legal status (Bassel and Emejulu 2017). This includes, but is not limited to, women founders who hold ethnic backgrounds or heritage in Africa, the Caribbean, South & Central America, South & Southeast Asia, and the Middle East.