Women use crowdfunding platforms more than men, and achieve more success, according to new research from professors at New York University and the Wharton Business School.
The study analysed 1,250 campaigns on crowdfunding giant, Kickstarter, and found that about two thirds of female-led campaigns were successful, opposed to under one third of male-led ventures.
Ultimately, women were 13% more likely to meet their goals on the platform than men.
It’s thought that many more women are turning to crowdfunding than men due to a lack of female representation in the startup funding market, which is dominated by male founders and male funders.
Females were more likely to lead projects in the fashion, publishing and film industries, and less likely to lead projects in technology and games.
However, they were more likely to succeed leading projects in the industry areas in which they are currently underrepresented.
The authors of the study said this was likely due to female backers preferring female-led projects in these sectors out of a sense of activism.
The study said:
“Rather than being driven purely by better numerical representation of women in a given industry category, the success of female founders seems to require a subpopulation of female backers that disproportionately support women founder in areas in which women are historically underrepresented.”
Image by John Bannister