The debate has been going on for a while. A couple of months ago I published an article — original, here — on it, focusing on spanish ecosystem. From technology skills to risk aversion and venture capital investments, I got to get some answers.

Women are less visible

“Of course there are women who create startups. But there are very few of them and they are not very visible. A guy with the same evolution takes over. Moves around, shows off, speaks at events. In the case of women, this does not happen as frequently” explained Patricia Araque, founder of Ellas2 (which promotes the role of tech female entrepreneurs, as Women 2.0 does).

That leads to a lack of references

“My experience tells me that a factor is a lack of references. There are few and they are invisible. Also, the lack of networks: when you set up a startup, investment networks are different. If you have a lack of networks, and women tend to be ostracized, this is another barrier. And training. We usually lose our interest in technology earlier”.

There are less girls on Computer Science

If we take a look at the distribution of students in computer science in Spain, just 15% of them are female. Guernica Facundo, who has written on female entrepreneurship, found out how gender stereotypes affect enrollment.

“In the University of Cataluña, Computer Science was called Information Science and there was a 50%-50% distribution. The name changed to Degree in Computers and later on to Computer Engineering. Registrations fell. When you say “engineering” it sounds like mechanics and technical complexity. So women, who in general have been educated in a way not especially conducive to expertise in machinery, not very consciously do not sign up”, she said.

The New York Times wrote about the drop of women interest in Computer Science; even the stereotype on “nerd” or “geek” played a role. “Girls and young women don’t want to be that person.”

When it comes to business creation, women do different kind of projects

It is not all about technical skills. After all, lots of CEOs lack them. There is also a gender gap in business creation and the projects set up by male and female are different.

The Global Entrepreneurship Monitor made a special report on business and women and concluded: women tend to create consumer services, the type of company is smaller, with less growth perspectives and internationalization and without co-founders. When it comes to internet startups all this affects something (very) important: external funding.

VC’s do not like that much that kind of projects

“It is harder for women to set up a powerful team and an attractive structure for a venture capitalist”, considers Marta Esteve.

It could be said that woman go more for ‘lifestyle’ businesses. Which VC’s do not really like.

So there is less match between VC’s and women

“Women, in general, are more conservative. They do not take risks to the edge. So there is less match between venture capital investors and women. If a good project turns up, there is no gender problem”, said Esteve.

“I spoke to an american female venture capitalist (there are few) and asked about the difference between female and male business plans. She told me that women have less aggressive projects. The investor requires more ambitious projects, not self-employment”.

Women only receive 5% of the venture capital

A study conducted by Clayman Institute tried to understand why only 5% of venture capital investments went to women-owned high-tech firms. Was gender a factor?

The authors found “that women non-technical entrepreneurs received significantly lower ratings than non-technical men. In fact, a non-technical degree can raise the ratings for male entrepreneurs, while they are detrimental to women. For all women entrepreneurs, strong network ties are critical for success. Having strategic connections helps women entrepreneurs, more than men, when it comes to Venture Capital decision making”.

There are less female VC’s

There are not many female investors. Pedro Trucharte is the director of the business angels network Madri+d and director partner of Inveready and told me that “there are less female investors. Is there a reason for this? Normally, investors are people who have or have had a business or executives who have left a company. There are less women in this situation”.

Marta Esteve is also an investor and she said she invests in more long-term projects.

Women tend to invest in long term projects

“Studies explain that investments by women are different because there is a project investment on a longer scale. They are looking out less on making a gain today. There is more of a diversified orientation, not placing all the eggs in the same basket and making investments with less of a return but with less of a risk too. This, from the point of view of the investor. But investors are men”, Facundo continues.

Let’s read this the other way around

“They are investing in larger sized projects which will mean faster incomes. And in this way bubbles are formed. This is a way of understanding economy. If there are few women´s projects that get venture capital funding this is because they do not fit those patterns of maximum profit today and tomorrow is a guess”.

A meritocratic system?

Well, the most successful startup stories are leaded by men.

“This is a meritocratic ecosystem: all men and women have equal opportunities, but there is a need to work on issues that have to do with visibility and awareness”, says Araque.

I was skeptical

Is there a need? Really? Before the editor of Hoja de Router, the website where I published this article, asked me to write on this topic I was so skeptical. I did not like anything related to promote the role of women in entrepreneurship, in technology or in anything, so I asked every source if there was really a need on promoting womens role if opportunities are open for e-v-e-r-y-o-n-e no matter the gender. All said there was.

As Ms. Facundo told me, she sees this kind of skepticism in younger generations (I am 24). “My sisters are 29 and 22 years old. I am 39. I see the same in them. There is a generation of women who have lived in equal access of opportunities and they see it as ‘nobody needs to give me anything, there is no big deal because I am a girl’ and yes, that is true. But…”

But feminism and skepticism just deserves another article. I’ll keep it in mind for my 2014 resolutions.