In today’s installment of Least Shocking Tech News, a new survey reveals that tech companies founded by women hire more women. The survey from Funders Club, an online venture capital firm, shows that U.S. technology startups with at least one female founder have teams that are, on average, 48% women. That’s twice the average reported by U.S. technology startups with no female founders. Companies with female founders had executive leadership teams that are on average 38% women (2.4x more than the average percentage reported by U.S. technology startups with no female founders) and engineering teams that were on average 23% women (2.3x the average percentage reported by U.S. technology startups with no female founders).
That’s a staggering result, which shows that having women in leadership positions is a crucial step for the advancement of other women. Of course, relying on women-led startups to lead the charge in diversifying the tech workforce isn’t particularly effective, because only 17% of startups in 2017 have a female founder, according to a recent CrunchBase study, and that number hasn’t grown in nearly five years. Unless women start founding more tech companies (and getting the funding to do it), male-led startups are going to have to, I dunno, actually start hiring and funding women. It’s good business sense, too, because female founders make startups grow more quickly. According to one recent study, the fastest growing companies were 75% more likely to have a female founder.
[via USA Today]