Crowdfunding campaigns led by women are significantly more successful than those led by men across most industries, according to a new study.
The report, Women Unbound, which is due to be published in early 2017, is based on research carried out by PwC and The Crowdfunding Centre.
The report has analysed hundreds of thousands of crowdfunding campaigns and found an “inherent and historic bias is still endemic” in traditional funding mechanisms for businesses, where women entrepreneurs typically receive less than 10 per cent of funding.
The study, which has been collected by the Crowdfunding Centre over three years, indicates that this bias against women “evaporates” in the crowd funding space.
Barry E James, the founder and chief executive of The Crowdfunding Centre, said: “The data is remarkably consistent, over both time and different industries and geographies. It clearly shows that while around twice as many men as women launch crowd funds the women’s campaigns do at least as well – and mostly better.
“The data is telling us that...there is an historic and unconscious bias inherent in the perceptions upon which decisions are based in the traditional economy – evident because when the ‘grey suit factor’ is removed, and the crowd decide on the merits of the campaign, it evaporates.
“This is an important finding as it offers new insight and tools with which to help tackle the root of this problem and (the) hope of changing perceptions; correcting an historic injustice as well as bringing potentially huge benefits to both women and society as a whole.”