- Bitget Research reveals a funding gap in Web3, with only 7% of VC funding going to women-led startups since 2022.
- In response to the issue, Bitget commits to addressing the disparity by pledging $10 million to support women in Web3.
- The initiative focuses on empowerment through mentorship, education, and increased exposure for women in the industry.
- Blockchain4Her programs under Bitget's initiative encompass various opportunities, including incubation, pitch competitions, summits, and ambassador roles.
- The overarching goal is to inspire and enable more women to take on roles as inventors, leaders, and active participants in the expanding Web3 space.
Bit-get, a prominent cryptocurrency exchange, recently unveiled a report in early January shedding light on a significant gender gap within the web3 space, particularly in venture capital (VC) funding. According to Bitget's research, women-led startups received a mere 7% of VC funding in web3 over the last two years, while their male counterparts dominated with a staggering 93% share of the billions poured into web3 startups since 2022.
In response to this alarming trend, Bit-get swiftly took action, committing $10 million to the Blockchain4Her Initiative. This initiative is dedicated to empowering women in the web3 and blockchain industry, offering mentorship, education, and exposure to women-led startups.
The initial report from Bitget Research highlights the persistent and widening gender gap in VC funding between men and women. Web3 startups garnered an impressive $27.85 billion in VC funding since 2022, but only 6.43% of this total went to startups founded or run by women, amounting to approximately $1.77 billion. In contrast, male-led startups received a substantial 93.57% share, totaling $26.08 billion.
TechCrunch's additional insights underscore the broader issue, revealing that only 1.9% of the $238.3 billion in venture capital allocated to US companies in 2018 went to teams composed entirely of women. This figure decreased to 1.9% in 2022, indicating a pressing need for inclusivity in a rapidly expanding niche like web3.
Bitget's response to this problem materialized in the form of the Blockchain4Her Initiative, aiming to address gender disparities in the blockchain sector. The $10 million pledged will fund incubation programs and pitch competitions for women-founded startups. Blockchain4Her seeks to promote inclusiveness by providing female entrepreneurs with opportunities and resources to become innovators, leaders, and users in the blockchain space.
The initiative offers various events and initiatives, including incubation programs, pitch competitions, the Women in Blockchain Summit & Awards, and Ambassador programs. Bitget encourages all women interested in web3 and blockchain, regardless of their roles as entrepreneurs, developers, investors, or enthusiasts, to join Blockchain4Her by registering on the official Bitget website and following them on social media.
In conclusion, Bitget's proactive approach towards addressing the gender gap in web3 and promoting inclusivity through the Blockchain4Her Initiative is a positive step in advocating for equal access and rights for all in the evolving landscape of the internet's future.