Hustlers have personalities full of ambition, they are go-getters and self-starters who are determined to achieve their goals and ultimate success. When confronted with roadblocks they focus on the issues and accept challenges, viewing them as opportunities to improve.
From beating biases to outperforming male-founded companies (with less money), females are stepping into decision-making roles, launching their own startups, and slaying revenue targets while creating impact. We’ll dissect the facts and figures that reveal the gendered landscape and are giving rise to the new breed of a hustler.
There’s a lesser presence of women’s economic and management skills in startup culture.
It’s harder to secure funding from investors due to gender bias.
- Females looking for funding get asked about losses and risk management. Male entrepreneurs receive goals and gain questions like how they plan to scale. *
- Venture capitalists are more likely to describe male entrepreneurs as “young and promising,” but say female entrepreneurs are “young and inexperienced.” *
- 13% of investment dollars go to companies with female founders or cofounders.**
- That means that $3 raised for every $100 spent goes to female-only founders and their companies compared to $10 raised for every $100 spent by companies with a mixed team of cofounders. **
As a result of these discrepancies, many women are creating their own positions of leadership.
- Twice as many females stepped into an active leadership role (founder or cofounder) from 2009 to 2014. ***
A higher presence of female leadership leads to more inclusivity and has opened up opportunities for other women.
- The few venture firms with female founders or partners tend to invest more in female entrepreneurs. ***
- The amount of female partners at top venture capital firms jumps from 7% to 50%, if the firm was founded by a female compared to all-male founders. ***
- In 2019, 11% of rounds over $100M were awarded to female-founded and cofounded companies. **
Females in leadership positions tend to adopt strategies that drive impactful results.
- Female entrepreneurs tend to be more intrinsically motivated rather than profit and extrinsically driven.
- Females are more likely to prioritize corporate social responsibility and create impactful strategies.
As the new breed of hustlers, women in tech are directly tackling sectoral and occupational segregation, increasing opportunities for more representation and diversification.
This hard work and ambition have brought higher revenues, while simultaneously closing gender gaps, empowering younger generations with greater accessibility to funding and refreshing mentorship programs led by a more diverse group of role models.
Women working in tech have excelled at achieving their professional goals when presented with the opportunity and their proven success shifts cultural stereotypes. Yet, until the gendered landscape of the tech ecosystem has more female entrepreneurs scaling their way through the valley, it’s vital to keep the hustle going strong.