Women-founded startups are more profitable than men-founded ones
We all know about the gender pay gap in Turkey and across the world.
Research shows that for every one dollar earned by a man a woman earns 80 cents.
Another injustice between men and women in the business world is taking place in the investment field.
Startups by women attract $1 million less than startups by men. And this happens despite the fact that female-founded startups make higher profits.
A research conducted jointly by the Boston Global Management Consulting (BCG) and MassChallenge, which finds investors globally for startups, have revealed interesting results.
According to the research, while $1 million investment was given to male-founded startups, $935,000 was invested to startups by women. Despite this difference in the investment scales, for every $1 investment to women startups, the return was 78 cents, whereas the return from startups by men was 31 cents.
According to the research, there are three reasons why women’s startups lure less investment than men’s startups.
Firstly, women face much more complicated questions on technical issues compared to men when they present their startups.
Investors are prejudiced towards women and think they are not sufficiently equipped technically.
Secondly, male entrepreneurs are much more assertive compared to women during their presentations. They are braver when asking for an investment. Women are much more cautious in their presentations and less demanding about investment.
The third reason why women attract less investment is very simple: Male investors are not familiar with the products and services of women-founded startups. Most of the products of these startups serve women clients. Women mostly rely on their own experiences when they set on initiating a startup.
Europe’s best angel investor award goes to a Turkish woman
While on the topic of women investors, I have to mention that an award was given by Europe to Ahu Büyükkuşoğlu Serter, who is one of the most courageous investors I have come to know.
Büyükkuşoğlu Serter is the chairwoman of the executive board of Fark Holding and the founder of the Arya Women Investment Platform. She was awarded Europe’s Best Angel Investor at the European Angel Investor Network (EBAN) congress.
Nominees for the award are chosen from those contributing to the world of investment and empowerment of women in the business world.
Büyükkuşoğlu Serter is among Turkey’s most prominent angel investors. She has so far invested in nearly 35 startups.
Tanbay elected as vice president
I also have to mention Professor Betül Tanbay, who has been elected as vice president to the European Mathematical Society. A member of the academic staff of Boğaziçi University’s mathematics department, Tanbay has been a member of the executive committee of the European Mathematical Society for the past two years. The Turkish Mathematical Association has been a member of the Society since 2008.
Founded by the prominent mathematician Cahit Arf in 1948, Tanbay became its first woman president and served as such between 2010 and 2016.