Have you ever thought about the representativity of women within the innovation ecosystem in Brazil? The Female Founders Report 2021 encourages us to do so based on data about female entrepreneurship and discuss the unequal investment in startups founded by women.
This gap was the topic of an article on Fantastico (from Globo, a broadcasting channel in open brazilian television), broadcasted on March 7th, 2021 where entrepreneurs representing female startup founders in Brazil were interviewed.
The Female Founders Report 2021 was prepared by Distrito (a platform promoting corporate transformation by connecting startups), together with B2Mamy (an accelerator that connects mothers to the innovation ecosystem) and Endeavor (a non-profit organization that aims to support entrepreneurs and turbocharge company growth).
The first data to note in the report is the percentage of startups founded solely by women (4.7%). Women are a minority in the group. But even smaller is the contribution made to these companies in 2020, which represents only 0.04% of the total invested.
Also, only 29% of companies in the innovation ecosystem include a woman on the shareholder board. This number decreases when we talk about scale-ups: only 21.4% have women as partners.
The benefits of female leadership
Another consideration raised is the consequences of the existence of women as founders, co-founders, or partners. The Female Founders Report 2021 quotes a study by Kauffman Fellows in 2019, which indicated that companies with at least one female founder and a C-level employ six times more women than teams consisting only of male founders.
However, the number of startups made up of only male founders on the board is almost 20 times higher than those founded exclusively by women. The gap is narrowing over time, but in short steps and without significant evolution.
WePayOut is part of the statistic
In the Fintech sector, the gap is even wider. An example of this is companies linked to foreign exchange and card services founded solely and entirely by men.
WePayOut is a fintech that helps narrow this disparity with a female founder in charge of Strategic Partnerships and Business Development | CEO.
Fernanda Zago, with a professional experience of over 20 years and ten years in the cross-border payments industry, brings, besides her expertise, the flag of female entrepreneurship to inspire and promote changes in the scenario. Fernanda talks about the importance of more female founders in Brazilian startups and a higher representation of women in the cross-border payments sector:
“Seeing more women in leadership positions, respected for their roles in running companies, will motivate and encourage others to face the challenges in industries with low representativity of women, as it happens in the Brazilian cross-border payments industry.
Great female examples, who act professionally, focused and serious, help all of us women, to break out the glass ceiling, and take advantage of our role to take action wherever we want."
More than promoting equal rights, the increase of women in the corporate board allows for the feminine vision, which is practical, holistic and believes in the diversification of teams, to lead the way to new paths.
The Female Founders Report 2021 offers many other reflections on the scenario in collaboration with partner-founders of startups throughout Brazil. There are almost 100 pages of rich content, and it is worth checking out. Click on the link below and download the report from Distrito's website.