Women and Tech. It’s an area that’s been getting a lot of attention lately- especially the conversation around Twitter’s board.
I realized a few months ago that Qualcomm Ventures has a significant percent of female co-founders, CEOs and Chairwomen in our portfolio. For Europe, it’s 50%+. That’s right – over HALF of our companies… are founded, co-founded or chaired by women [blippar, CTC, ip.access, Rockpack , Grand Cru, Everplaces and Arieso (now exited)]. There wasn’t a decision to actively target female led companies, it’s simply a pattern that emerged. And it’s an impressive one.
My last post was about why we invested in Rockpack, where I highlighted the founder and CEO, Sofia Fenichell as a key part of that decision making process, saying “…as a [female] tech entrepreneur, she’s already the top 2%. You have to fight hard, and after you meet her, you realize she’s top 1%.”
A recent study carried out by Carnegie Mellon and MIT professors showed that teams that contain at least one female outperform male only teams in collective intelligence tests.
Start-ups are a team effort… The data shows the more women on the team, the better. That, plus the fact that most of the tech success stories are around companies that focus on a female demographic, or are widely adopted by a female demographic (Pinterest, Facebook, etc). So, who better to run these companies than female entrepreneurs? (Several of our portfolio companies customers skew female as well – FitBit, Wrapp, Rockpack, etc.)
Women in tech have historically been too few an far between. However, this is changing and there are clearly some shining stars right now – Sheryl Sandberg and Marissa Myer are probably the most visible. In London, there’s a host of local female heros as well – Jessica Butcher from Blippar, Divinia Knowles of Mind Candy (Moshi Monsters), Joanna Shields of Facebook, TechCity and Future Fifty fame, Sitar Teli, Partner at Connect Ventures, Reshma Sohoni, Partner at Seedcamp… and the list goes on, and on… and on.
Women are starting, funding and floating companies. This is an awesome change. One that’s been a long time in the making… and a change whose time has come.
(P.S. Tip of the hat to all the Techbikers crew, guys and girls. A group of 70 of us raised $75,000 for charity cycling 200 miles from Paris to London in September. More in the Techcrunch article here).