Startup Communities to Challenge the Tech Gender Gap with $1M from Google
Google is providing money to 40 partner organizations across the globe to fund tech programs, events and training for women in startups.
By Betsy Mikel (Contributing Writer, Women 2.0)
You’ll find a lot of people in tech who support the idea that more women should lead startups. But you won’t find as many who are taking actionable steps to help women get there. Since money speaks louder than ideas, one of the world’s most valuable brands is putting a big chunk of change toward encouraging organizations to champion more female entrepreneurs.
Google for Entrepreneurs is providing $1,000,000 to 40 partner organizations and challenging them to increase the representation of women in tech communities across the globe. The money will sponsor startup events for women in Gaza, fund an accelerator program for female-founded companies in Chicago and fund a training program in Uganda to teach young women programming and entrepreneurial skills, just to name a few.
The initiative is called #40Forward, and throughout the month of March, Google will promote the organizations, their efforts and the progress they’re making.
Photo via Google4Entrepreneurs / Twitter.
According to the #40Forward announcement by Google for Entrepreneurs, women-led tech companies achieve 35% higher return on investment, and, when venture-backed, bring in 12% more revenue than male-owned tech companies. Women also tend to be much more efficient with the small piece of the VC pie they do get. Female-run businesses run on an average of ⅔ less the capital of their male counterparts.
“That means that not only is supporting women in business the right thing to do, it’s also the smart thing to do,” Global Entrepreneurship Manager Bridgette Sexton Beam said on the Google blog.
This feel-good news is great press for Google, and we hope more powerful brands will follow suit.
How do you think other big-name companies can make a big difference for women in tech?
Betsy Mikel is a freelance copywriter and content strategist who helps brands, businesses and entrepreneurs tell their stories. A journalist at heart, her curiosity drives her to find something new to learn every single day. Follow her on Twitter at @betsym.