Few women in Boston's high-tech startup community are getting venture capital funding, according to a new survey, something entrepreneurs and one of the state's top economic officials said is hurting the Bay State's economy.
In the survey, released yesterday by the New England Venture Capital Association, 70 percent of entrepreneurs said Boston's startup community is either sometimes or not at all inclusive to women.
"There are talented women who are not in the leadership ranks to the extent that they should be," said C.A. Webb, executive director of NEVCA. "It appears to be a liability rather than an asset to be a woman seeking funding."
Women "who are starting businesses that grow beyond $100,000 are substantially lower" in number, said Janet Kraus, a serial entrepreneur and Harvard Business lecturer who leads the Women's Founders Forum.
Still, women entrepreneurs are not laying the blame on anyone.
"It's up to us to change the rules," said Jules Pieri, founder and CEO of thegrommet.com. "I really don't believe they set out to only find people who look like them," she said of venture capitalists.
In a two-year economic plan through 2015, the Executive Office for Housing and Economic Development said the state's technology workforce needs to be expanded.
"We want it to be inclusive with women," Housing and Executive Development Secretary Greg Bialecki told the Herald.
"There's a huge segment of business opportunity that we're not even capable of addressing" because of the lack of women in the industry, Pieri said.
Added Kraus, "We should not be missing out on the opportunity that women could be bringing to the region."
NEVCA plans to track the number of women who receive venture capital funding as part of its plan to address the issue. Webb said fixing the disparity is crucial to bringing and keeping top female talent in the Boston area.
"Let's illuminate this issue and make sure New England is getting the best talent in the world," she said.
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