Data: The proportion of women in the founding team of Web3 is only 13%

On March 6, according to a new report by BCGX, Boston Consulting Group (BCG) and People of Crypto, only 13% of Web3 founding teams include women. In the founder’s data, only 7% are women. The report also found that Web3 start-ups founded by men raised almost four times as much money as those founded by women, a gap greater than other start-ups.

Interpretation of this information:

The report by BCGX, Boston Consulting Group, and People of Crypto provides insight into the gender imbalance in Web3 start-ups. The data shows that only 13% of the founding teams are comprised of women, and only 7% of the founders are women. This suggests that there is a significant underrepresentation of women in the industry.

These findings should be of concern to the Web3 community, as gender diversity can lead to a range of benefits such as increased creativity, innovation, and improved decision-making. It is concerning that women may be missing out on opportunities to participate in this burgeoning sector.

The report also highlights an alarming gap in funding for Web3 start-ups founded by men compared to those founded by women. Start-ups founded by men raised almost four times as much money as those founded by women. This suggests that there may be biases at play in the investment process that may be disadvantaging women founders.

This gap in funding may result in women missing out on opportunities to grow, scale and achieve success in the Web3 industry. It is important to correct this, as supporting diversity in the technology sector can lead to greater innovation and progress.

There are several reasons why women may be underrepresented in the Web3 industry. One possibility is that there are fewer women with the technical skills required to work in the sector. Another is the existence of systemic biases or discrimination. This could manifest as unconscious biases in recruitment or discriminatory attitudes towards women in leadership positions.

It is clear that action is needed to address the gender imbalance in the Web3 industry. This could involve targeted efforts to encourage diversity and inclusivity in hiring processes of start-ups, investors and fund managers. Other potential measures include improving diversity and inclusivity within the education system, to encourage more women to develop the necessary technical skills to work in the field.

Overall, the BCGX report provides a timely call to action for the Web3 community to address the gender imbalance in the industry. This is crucial not only for achieving gender equality, but also for promoting innovation, growth and success in the industry as a whole.