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Female Founders Face Funding Shortfalls

Female entrepreneurs are crucial drivers of economic growth and innovation, but in Asia Pacific, they remain significantly under-represented in the startup ecosystem.

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Female entrepreneurs are crucial drivers of economic growth and innovation, but in Asia Pacific, they remain significantly under-represented in the startup ecosystem.

Despite innovative ideas, unique perspectives, and understanding of niche markets, women entrepreneurs say that access to funding are hindering their opportunities to thrive in tech startups.

According to a recent report by the Asia Pacific Economic Cooperation, less than ten percent of startups in APAC are founded or co-founded by women.

These barriers include limited access to funding, mentorship, and professional networks, as well as the persistent gender gap in STEM fields, which narrows the pool of potential female founders in tech.

Lakshmi Puri, former Assistant Secretary-General of the United Nations and Deputy Executive Director of UN Women, highlighted the untapped potential of women entrepreneurs in her keynote speech at the 2017 APEC Women Entrepreneurs Forum.

“Empowering women economically, fully deploying their productive energies, and enhancing their purchasing power is potentially the biggest emerging market of 3.5 billion globally—most from the APEC member economies,” says Puri.

This statement underscores the importance of addressing the barriers holding women back and unlocking their full potential in driving economic growth.

The APEC report emphasizes the need for targeted interventions to address these systemic barriers, including improving access to financial resources for women entrepreneurs.

The report recommends increasing government grants to support the development of minimum viable products and partnerships with financial institutions to offer lower interest rates for women entrepreneurs.

 Additionally, governments can facilitate trade missions, connect entrepreneurs with foreign buyers, and create networking opportunities to help women-led businesses scale internationally.

The report also calls for greater emphasis on early exposure to entrepreneurship and STEM for women and girls.

Integrating entrepreneurship education into school curricula and showcasing successful women leaders across industries may inspire a new generation of female entrepreneurs. In STEM, targeted initiatives like scholarships, internships, and partnerships with tech companies can help bridge the gender gap and prepare young women for leadership roles.

Networking and mentorship are critical factors in supporting women entrepreneurs.

Expanding the reach of existing networking groups and mentorship programs can provide aspiring women entrepreneurs with the camaraderie, advice, and resources they need to navigate challenges and grow their businesses.

The report also identifies a need for sex-disaggregated data on business formation and sustainability across APEC economies. This data is essential for understanding the contributions of female entrepreneurs and tailoring policies to better support them.

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