Cryptocurrency exchange Bitget has announced a new initiative, pledging $10 million to invest in women-led startups within the Web3 and blockchain industry. This initiative, announced on January 16, is a groundbreaking step towards fostering gender diversity and supporting female entrepreneurship in the blockchain space.
As part of this initiative, Bitget plans to launch incubation programs specifically tailored for female entrepreneurs. These programs will provide essential resources and support to help women founders navigate the complexities of the blockchain industry. Additionally, the exchange will host pitch competitions for women-founded startups, creating opportunities for these entrepreneurs to showcase their innovative ideas and projects.
In an effort to further highlight and celebrate the achievements of women in the blockchain sector, Blockchain4Her, under Bitget’s umbrella, will organize the Women in Blockchain Summit & Awards. This event aims to recognize and honor the outstanding contributions of women in this field.
Bitget is also inviting industry leaders to become ambassadors for the Blockchain4Her program. These ambassadors will play a crucial role in advocating for gender diversity, engaging with the community, and driving positive changes towards creating an inclusive environment in the blockchain industry.
This initiative follows a similar commitment by Bitget on May 4, 2023, when the exchange announced a $10 million initiative for young talent, named “Blockchain4Youth.” This program focuses on providing educational courses through Bitget Academy, hosting university lectures on Web3, incubating innovative projects by young entrepreneurs, and organizing hackathons for individuals under 30 to identify emerging leaders in the industry.
A recent report published by the exchange on January 11 highlights the current state of Web3 venture capital funding by gender. The research reveals a stark disparity, showing that less than 7% of VC funding in the industry went to female-led startups, which are defined as series-stage companies where at least 50% of the executives are women. The report further notes that the percentage of funding for female-led blockchain startups as of Q3 2023 is significantly lower compared to the overall figure for startups in various fields.
This disparity underscores the necessity for comprehensive measures to enhance inclusiveness and accessibility in the blockchain sphere for women, as concluded in the report. Bitget’s latest initiative is a step forward in addressing these challenges and promoting gender equality in the burgeoning blockchain industry.