Female entrepreneurs looking to start their own company, also face a funding gap, especially from venture capitalists.
In 2016, venture capitalists invested $58.2 billion in companies with exclusively male founders. Women received just $1.46 billion. That’s according to the venture capital database, PitchBook. Along with that, 5.839 male-founded companies receiving funding to 359 for ones started by women.
That’s 16 times more funding to companies run by men, than women.
One reason for the disparity is the vast majority of investors are men. Analysis shows less than ten percent of VC partners are women. Other reasons include the disconnect between investors and founders on projects.
Plus, women often ask for less funding from the start.
Lauren Schulte is the founder and CEO of The FLEX Company. The company and main product FLEX recently secured over $4 million in funding.
Schulte is an unlikely entrepreneur. With a background in marketing, she had no intention of starting her own business. But her curiosity lead her on a different path.
CGTN’s Karina Huber caught up with Schulte, during the Forbes Women’s Summit last month.
She began by asking Schulte, what made her want to get into the menstrual business.