Being a woman entrepreneur with a high-growth business ain’t easy in the U.S. — the #1 country in the world for women entrepreneurship according to Gender GEDI — but it’s even harder in the Europe.
Gender GEDI is diagnostic tool that comprehensively identifies and analyzes the conditions that foster high potential female entrepreneurship development. Broadly speaking, Entrepreneurial Environment focuses on assessing the “entrepreneurial spirit and culture” of a given society as well as the presence of institutions to support entrepreneurial startups.
The conditions for high-growth entrepreneurship for women in Europe lag the U.S. (83). Sweden is the the highest rated European country at 73. France only reaches 67, Germany 67 and the U.K. a sad 54. The top score any country can receive is 100, said Ruta Aidis, CEO and founder of ACG, Senior Fellow, George Mason University and author of the report. It is a relative score based on 30 metrics. “Areas where the U.S. could improve include increasing the percentage of growth-oriented female startups and product innovation amongst female startups,” she continued.
But some women-led companies succeed. Improve Digital is an Amsterdam-headquartered advertising technology provider in Europe. It was founded in 2008 by Joelle Frijters and Janneke Niessen and has made Deloitte’s list of 500 fastest-growing technology companies for five straight years.
“My business partner and I have been on the receiving end of bias from investors on more than one occasion,” says Niessen, CIO at Improve Digital. “Consciously or not, most picture a successful entrepreneur as a young white man.”
One reason for the low interest in women entrepreneurs in Europe is fewer role models. Having role models directly enhances the aspirations of women to start their own businesses. The other missing piece is support for growth through access to ideas, opportunities, and resources that come through networking.
To encourage more women to become leaders in the technology sector, Frijters and Niessen createdInspiring Fifty, which showcases female role models. Marissa Mayer and Sheryl Sandberg are great, but not close to home. Through Inspiring Fifty’s own events, speaking at other events, writing articles, and participating in workshops, Frijters and Niessen want to motivate, educate, and inspire millions of women across Europe and around the world.
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