Female founders in the UK still significantly less backed than men – ENTIQ launches support mechanism for female tech founders
ENTIQ has designed a practical curriculum to support female tech founders fundraising for growth.
The UK tech ecosystem is more diverse than other parts of the world, with startup founders five times more likely to be female in the UK than in the US. That said, female founders in the UK are significantly less-backed by venture capital than their male counterparts. Last year Wayra reported that men are 86% more likely to be VC funded than women, and 59% more likely to secure angel investment.
Evidence on the benefits of gender diversity in startup teams is strong in the US. The VC firm First Round highlighted last year that teams with at least one female founder perform 63% better in terms of company value before and after investment, than the all-male founder teams. Further, Women who Tech have stated that female-led startups have 35% higher ROI when venture-backed, generating 12% higher revenues than male-led startups bringing in 20% more revenue.
Innovation consultancy ENTIQ, in partnership with the UK Business Angels Association, has designed a dedicated programme to identify, empower, and showcase the UK’s top female tech founders seeking finance – Fin4Fem. Through a five day course, Fin4Fem will focus on a variety of areas such as financing options, growth strategies and exit valuation to help best prepare female founders for financing their businesses while shining the light on the UK’s top investment-ready female tech founders.
“We launched Fin4Fem with a powerful and hopeful community. Finally experts in tech and finance will come together to address the extraordinary and unnecessary hurdles women face in business. It is time we make the incredible female founders public heroes of business and technological innovations.” Claire Cockerton, CEO of ENTIQ.
The programme, which launched on International Women’s Day, has been supported by a variety of global partners, including Thomson Reuters, UK Business Angels Association, Silicon Valley Bank, Lloyds Banking Group and KPMG.
“We are keen to ensure that through Fin4Fem, we can create a more level playing field for women tech entrepreneurs across the UK, by increasing their potential to gain the finance they need to build successful growth businesses,” says Jenny Tooth OBE, CEO of UK Business Angels Association.
The pilot course will run from 18-22 April and be made free of charge for interested female tech founders who can find more information and apply online at www.fin4fem.com
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