| There are currently over 640 active technology hubs across the continent, and, according to Disrupt Africa, startups raised almost US$500 million in funding in 2019 – year-on-year growth of almost 50 percent. Topping the list are fintech startups, who raised $107.4 million in 2019 – enjoying 25 percent of all funding. Despite this momentum, however, there’s a concerning trend: globally, women-led startups only receive two percent of all venture capital (VC) funding – and the picture within enterprise tech is dimmer. Additionally, of all startups, only 22 percent are founded by at least one woman. Africa-specific data is lacking, but sources suggest only nine percent of startups have women-leaders, and female-led South African startups receive only 4.5 percent of all funding. Female-led startups are in short supply. And, where they are available, they often lack the investor backing to scale. The result is a significant loss of insight, perspectives, development, and solutions, which affects us all.Source: DISRUPT AFRICA |
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