Today I Read that women need to pitch their startup ideas differently than men to get funded
According to a new Harvard Business Review study, women are more likely to receive VC funding when they highlight the social mission of their startups. This is compared to men, who receive funding for traditional startups without needing to highlight a social mission.
Quick Summary: A female founded startup is view most favorably if the social mission is highlighted. Harvard researchers looked at 43 ventures and consistently found that female led ventures were viewed as less viable than male led ventures UNLESS the female led ventures emphasized their social impact.
Big Takeaway: The data disappointingly confirms recent research which indicates women must conform to gender stereotypes to be viewed as competent.
Something I did not know: A commercial plus social mission pitch was viewed equally favorably when made both men and women- women are penalized for a commercial only pitch.
Makes me feel/think about: This is pretty silly! To think a woman must deploy a completely different tactic for VC firms to be receptive is frustrating, but research indicates this is an unfortunate norm due to deeply held biases that women cannot easily overcome. I really wonder what kind of cultural change is necessary to get us past the ingrained social biases that hold minorities back.