Glaring Gap Report shows large increase in number of women participating in startup investing across the state
TAMPA, Fla., Oct. 19, 2021 (GLOBE NEWSWIRE) — Embarc Collective, the startup hub helping founders in Florida build bold, thriving, scalable companies, today announced the findings from its second annual Glaring Gap Report.
Supported through funding from JPMorgan Chase, the report surveys the state of technology-based entrepreneurship for women in Florida. This year, the report uncovered improvements in the trend of women and venture capital, including:
- The number of women in venture capital and private equity roles in Florida grew by 36% in 2021.
- Half of the increase in women in these roles came from new hires at Florida Funders, the most active venture capital (VC) firm in Florida.
- 8% of venture funding in Florida went to women-founded companies in 2020, up from 7% in 2019.
“These findings from our report are in line with a wide body of research that continues to find that when more women hold investing positions, more women founders tend to get funding,” said Allie Felix, VP of Platform at Embarc Collective. “That’s why Embarc Collective has focused so much on equipping women for startup investing through our Glaring Gap Summit and other initiatives, to accelerate the number of women-led companies funded throughout the state of Florida.”
The report also revealed the state’s opportunities for improvement in supporting women founders. For instance, only 18% of new startups in Florida have a woman founder, down from 23% in 2019.
“As we approach two years into the COVID-19 pandemic, we now have data available showing how the pandemic may have impacted women-led Florida startups,” said Lakshmi Shenoy, CEO of Embarc Collective. “In addition to lower numbers of ventures created by women, women founders in our survey added ‘access to talent’ as their key need after ‘access to capital’. Despite many wins, it’s clear there is still a need for support and services that address the glaring gap of women in entrepreneurship in our state.”
The Glaring Gap Report is one part of a broader initiative, “Growing the Impact of Entrepreneurship Through Inclusion,” supported by JPMorgan Chase and led by Embarc Collective and Tampa Bay Wave. In November, Embarc Collective will host its second annual Glaring Gap Summit. The Summit is a virtual forum that will convene women interested in becoming startup investors for three days of training to lead, fund, and impact the future of Florida. Please visit https://glaringgapsummit.splashthat.com/ to be a part of this year’s training, free to attend through the support of JPMorgan Chase.
To learn more about the Glaring Gap report, visit https://www.embarccollective.com/2021-glaring-gap-report/
About Embarc Collective
Embarc Collective is a nonprofit startup hub helping founders in the Tampa Bay region build bold, scalable, thriving companies. Embarc Collective offers hands-on support driven by the unique goals and needs of each member startup at its 32,000 square-foot office in downtown Tampa. Member companies receive customized, ongoing coaching and support from startup veterans to help propel member companies’ growth. Embarc Collective works with a growing roster of over 100 early-stage startups and is the fastest-growing startup hub in Florida.