The blockchain ecosystem continues to face significant gender disparities, particularly when it comes to funding for startups. A recent study conducted by Bitget, a leading cryptocurrency platform, has shed light on the prevailing bias against female-led projects in the crypto industry. The study reveals that over 90% of funding goes to male-led projects, while female-led startups struggle to secure adequate financial support.
Over a two-year period, the study found that male-led startups attracted a staggering $27.85 billion in funding. In stark contrast, female-led blockchain startups only raised $1.77 billion, making up a mere 6.34% of the total funding. This imbalance is largely attributed to investor bias, which influences general investing trends and market sentiment within the crypto industry.
Furthermore, female-led blockchain startups have experienced a decline in initiatives since the beginning of 2022, with a significant 45.2% decrease in the number of projects. This decline indicates a sensitivity to negative shifts in the market and an over-reliance on overly optimistic trends.
Gracy Chen, the Managing Director of Bitget, emphasizes the urgent need for gender balance within the industry. She highlights the disparities revealed by the study as a reminder that talent and potential should be the sole criteria for funding allocations, free from any gender bias.
Chen, who has encountered gender bias firsthand, advocates for creating more pathways for women to assume leadership roles within the ecosystem. She encourages women to strive for equal opportunities, focusing on their competitive edge and delivering results rather than being hindered by their gender.
While the number of female-led startups has shown a slight increase of 0.3%, rising from 8.3% in 2022 to 8.6% by Q3 2023, there is still a long way to go in achieving true gender balance and inclusivity within the blockchain industry.
Addressing the gender gap in blockchain funding is crucial in creating an ecosystem that values diversity and equal opportunities. Proactive measures are needed to support the development of female-founded startups and foster an environment where talent and potential are the primary determinants of success.
The source of the article is from the blog zaman.co.at