According to a recent study conducted by Bitget, the world’s leading cryptocurrency exchange and Web3 company, there is a significant gender disparity in investment patterns within the blockchain startup funding landscape. The study, which analyzed data from the period of 2022 to the first three quarters of 2023, aimed to shed light on the existing issues of gender inequality in the industry and explore potential solutions.
During the study period, it was found that fundraising by blockchain startups decreased by 70.1% per quarter. Of the total funding raised, only 6.34% went to female-led blockchain startups. This highlights the persistent challenges faced by women in accessing investment opportunities in the crypto industry. However, there is some optimism as the share of female-led startups has seen a slight increase from 8.3% in 2022 to 8.6% by Q3 of 2023.
The study also revealed that female-led blockchain project funding is more sensitive to negative changes but less sensitive to bullish trends. This sensitivity can be attributed to the influence of general investing trends, the state of the overall crypto market, investor sentiment, and investor bias. It is worth noting that over 90% of the funding in the industry goes to male-led projects, which perpetuates the gender imbalance.
To address this disparity, the study calls for the establishment of incubators specifically designed to nurture female-founded startups. These incubators would provide a more inclusive and encouraging environment for the development of women-led projects. In doing so, it aims to create equal opportunities for everyone within the transformative blockchain-based economy.
The findings of this report underscore the need for a shift in the industry, where talent, potential, and ideas are evaluated without the influence of gender bias. As the Managing Director of Bitget, Gracy Chen, stated, it is essential for leaders in the crypto industry to acknowledge these disparities and work towards meaningful change.
With this study, Bitget aims to catalyze the transformation of the industry by fostering an environment where gender is not a determining factor in limiting engagement and opportunities. By addressing these uncomfortable truths and striving for inclusivity, the industry can truly unlock its full potential.
The source of the article is from the blog jomfruland.net