Women who raise money on crowdfunding platforms do better than men. A new report out today is attracting a buzz.
The report, published by PriceWaterhouseCoopers (PwC) and The Crowdfunding Centre, is called “Women Unbound: Crowdfunding – Unleashing Female Entrepreneurial Potential.” Researchers analysed incorporated the analysis of over 450,000 seed funding campaigns
Researchers analysed two years of data from nine platforms, adding up to over 450,000 campaigns in 2015 and 2016. And while more than twice as many campaigns were run by men, female-led fundraising teams were thirty-two per cent more likely to meet or beat the target for their campaigns.
The results are robust. Women achieved greater success in all countries and across all market sectors.
Looking at the UK and USA, the two countries with the largest volumes, women were significantly better than men at hitting their targets.
- 26% of UK campaigns led by women met or exceeded their goal.
- 24% of US campaigns led by women met or exceeded their goal.
- 20% of campaigns led by men met or exceeded their goal.
PwC Global FinTech Leader Manoj Kashyap had this to say: “The findings of our Women Unbound report pose a strong challenge to existing entrepreneurial and business norms by seriously questioning whether there are deep-rooted biases that are preventing greater access to funding by female entrepreneurs. It is extremely positive to see that the growth and global reach of seed crowdfunding presents several major opportunities, each with the potential for major social and economic impact. Including the understanding and acceptance that seed crowdfunding is now a well-established environment through which women can thrive.”
The report proposes practical actions, in light of the data, for governments, financial institutions, banks, and venture capital firms, female entrepreneurs, and education and business support organisations. PwC has published the report on a dedicated website, http://womenunbound.org and also at http://www.pwc.com/womenunbound .