Female founders: let’s talk fair funding & equal economies
Earlier this month, we invited female founders, investors — and allies — across the startup and tech community for our annual female founder meet-up.
Our industry, like many others, is systemically broken when it comes to gender parity. Startups 100 Index research shows that male founders still receive 6.2x more funding than female founders.
Being venture-backed is about more than just capital — it brings with it mentors, customers, board members, strategic support and a network of potential growth levers to pull at various stages of the start-up journey. Put simply, funding substantially increases the odds of success. Given that 90% of startups fail, it feels especially important that this advantage is shared equally.
Yet this imbalance is not just at founder level; the problem stretches into VC funds too, with women significantly underrepresented (only 15% of decision-makers in UK VC funds are female).
What steps can we take to close the funding gap? To tackle this question, we brought together an expert panel from both sides of the table, representing a mix of founder and investor perspectives.
Scroll down to read the key take-aways from our panellists:
- Deepali Nangia, Partner at Speedinvest ✨
- Claire Trant, CEO & Co-Founder at Untap Health ✨
- Brittany Harris, CEO & Co-Founder at Qflow ✨
- Agata Nowicka, Founder & Investor at Female Foundry ✨
- Moderated by Sophie Rowe, Sifted 🎤
Build Strong Networks and Alliances:
Claire, founder of Untap Health, emphasised the need for strong networks, pointing to the many Whatsapp groups her male counterparts are on. It may seem daunting initially, but it’s a powerful tool. Founders should engage in meet-ups, even if they feel outnumbered.
“Building long-lasting relationships is not easy, but it’s essential. Finding the first WhatsApp group may be tough, but once you find one, you open the door to 50 more. Networking in person at events may also be awkward at first but as you attend more, that’s how your network expands and grows.” — Claire Trant, CEO & Co- Founder at Untap Health
Pre-Empt Sensitive Questions:
Our panel opened up about the sensitive questions they have been asked, particularly around family planning; a recurring barrier that female founders face when raising. A practical tip was to include a risk management plan in the data room (for men and women alike) to demonstrate who would step in if any of the team, regardless of gender, were to step away from the business for a period of time due to illness or any form of life event.
“It’s not just about showing preparation; it’s about assurance and showcases the resilience of your leadership team as a whole.” — Brittany Harris, CEO & Co-Founder at Qflow
The Power of Mentorship:
Mentorship was highlighted as key, specifically the need for strong allies who go above and beyond to make connections, offer advice and go the extra mile to challenge the status quo.
“A lot is changing; a lot has changed. We still need to talk about mentoring. We, as VC funds, need to mentor and develop our own women to ensure progress across the industry.” — Deepali Nangia, Partner at Speedinvest.
Find Investors that Share Your Values:
Look for investors who not only bring funding to the table, but also share a vision that aligns with the direction you want to take your venture. Staying true to your values and principles, even amidst tough decisions or external pressures, ensures you build a venture that aligns authentically with who you are.
Ending with a quick-fire round to summarise the morning. We asked all four panellists; ‘if you had one wish for the industry, what would it be?’ 🪄✨
- Deepali: “A world where there are no more female founders left to back, as they are already funded.”
- Claire: “No more pitch decks — open up the ways in which founders can pitch, to play to different strengths.”
- Brittany: “More funding for all types of founders; not all will fit the VC mandate.”
- Agata: “Double the size of the industry.”
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