BE2C2 Report — Female-led crowdfunding campaigns are more likely to reach their funding targets than male-led ones, a new study published last week by consultancy firm PwC has revealed.
An analysis of over 450,000 crowdfunding campaigns by nine of the world’s largest crowdfunding platforms showed that female-led campaigns were 32 percent more successful at reaching their funding target than male-led campaigns.
“Even in more male dominated sectors, such as the technology sector, where there are nine male-led campaigns to every one female-led campaign, female-led campaigns are more successful,” PwC said in a statement.
The study also found that 83 percent of the crowdfunders in the Middle East were men, while only 17 percent were women, compared to 72 percent men and 28 percent women globally.
Crowdfunding is the practice of funding a project or venture
by raising monetary contributions from a large number of people.
Crowdfunding is a form of crowdsourcing and of alternative finance.
In 2015, it was estimated that worldwide over US$34 billion was raised this way.
The study also said that 10 percent of the female professionals in the Middle East were able to achieve their financial targets compared to only six percent of their male counterparts in the region.
Arab women are faced by social and cultural challenges in different countries in the region.
But recently new measures were introduced to relax rules limiting women’s travel, career opportunities and public engagements.
The United Arab Emirates (UAE) and Saudi Arabia are working to boost women’s presence in the workforce.
The emirates hired five new female ministers in a cabinet reshuffle last year and the UAE topped the Forbes Middle East’s list of the Arab world’s most powerful women with 18 female leaders, followed by Egypt and Lebanon with 16 and 12 women respectively.
In Saudi Arabia, businesswoman Hind Al-Zahid has been hired as the first woman to be an executive director of the Dammam Airport.
Rania Nashar became the first female leader of a listed Saudi commercial bank. Last year, female journalist Somayya Jabarti was appointed editor-in-chief of the renowned Saudi Gazette state-run English daily newspaper.
And the employment of Saudi women in private sector increased by about 10 percent last year over the previous year to reach 51,040, the Ministry of Labor and Social Development (MLSD) said report Saudi Gazette.