Friday 30 September 2016

'Men-only' tech sector leaves female entrepreneurs behind

Published 28/01/2016 | 02:30

Sheryl Sandberg: ‘Women are viewed as non-leaders’
Sheryl Sandberg: ‘Women are viewed as non-leaders’

The Irish tech sector is at risk of becoming a men-only club, with less than 3pc of venture capital going to startups with a female founder and only 0.6pc of funding to tech firms with a female chief executive.

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An Irish Independent investigation shows a startling gap in the Irish tech industry.

In the first 10 months of 2015, the average investment round for a VC-funded tech firm in Ireland with a female chief executive was €591,000.

This was just one-tenth of the average funding round (€5.46m) to a company with a male chief executive. Of €415m raised by Irish tech firms last year, just €2.3m went to female-led companies while €10.9m went to startups with at least one female co-founder.

The research was compiled from figures released by the Irish Venture Capital Association.

Despite rising numbers of female tech founders in Ireland, there is a lack of female participation in top executive roles. Of 88 companies to receive venture capital funding in Ireland last year, just four list a female chief executive while 12 list a woman as a co-founder.

Of the four firms run by a female chief executive, all were founded solely by women.

The Irish funding gap has emerged after Facebook chief operating officer Sheryl Sandberg warned that women were being dismissed as 'non-leaders' in the workplace.

Irish Independent

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