In the midst of a global climate crisis, where and to whom capital is allocated is key in determining whether we can reach our climate goals. The lack of female representation – at the level of investors, venture capital funds, and companies – constitutes a major risk, as women’s representation is an essential condition for innovation, catalyzing economic growth, productivity and cohesion. While female-led businesses outperform in capital productivity by 96%, this incredible potential is left untapped. Recent statistics from 2020 in Central and Eastern Europe (CCE) show that women-founded startups received only 1% of the funding, 5% went to mixed-gender founding teams, and 94% to all-male teams1.
For the first time this year, we are publishing statistics on the gender funding gap for the Nordic cleantech ecosystem. Underrepresentation of women in the tech, industry 4.0 and energy sectors is particularly problematic, and we are excited to present brand new statistics from these areas. The study below looks at the distribution of venture funding across funding stages, countries and cleantech segments based on gender representation within the founding teams.