Study Finds Less Than 15% of Team Members in ICO Startups Are Women
A new study confirms the crypto industry has a lot of progress to make to bridge the gender gap. It demonstrates that startups running ICOs continue to be markedly male-dominated — over 85 percent of the team members at the surveyed companies are guys. The information also suggests women are less likely to hold executive and advisory positions.
The study conducted by Longhash covers 100 forthcoming initial coin offering (ICO) projects listed by ICO Rating, a website which monitors new nominal sales. The crypto analysis platform has collected data about the overall gender balance of every group, the amount of female executives, including founders, in addition to the share of women one of their consultants.
According to the report, 14.5 percent of the team members are female, with just 7 percent of their executive functions occupied by women. Their number among advisors is just a bit higher — 8 per cent. Additional almost four out of five startups (78% ) don’t have a single female C-level executive and 75 percent don’t have feminine advisors.
The poll is based on data published on the projects’ sites. The companies have listed a total of 1,062 team members, including 326 founders and senior executives, and 473 advisors. Another important finding is that well over a third of the businesses, or 37 percent, don’t have any female workers in any way. The authors believe these are telling numbers and also warn they might even be overly optimistic:
In the case of advisors, if you discount two outlying startups that had large advisory boards with more than 25 percent women, the overall percentage of women in advisory roles drops to under 6 percent. And in the case of executives, there was only one startup out of the entire 100 we looked at that had more than one woman in an executive role.
Researchers in Longhash also have discovered some interesting correlations. It ends up, by way of instance, that crypto businesses with a woman in their advisory board are”less inclined” to have a female member of the executive team.
On the flip side, startups who have a minumum of one woman in an executive function seem to be more inclined to have a feminine adviser also. Longhash warns, but that in both situations the gaps in addition to the samples are rather small to draw reliable conclusions.
The authors of this report also mention that the tech sector generally stays largely male-dominated. They point to other research in the area signaling less pronounced but still apparent imbalance. As an example, a study published by Statista on March 8, the International Women’s Day, reveals that women composed between 26 and 43% of those employed in eight major tech firms this past year. Additionally, based on another study published by applications platform Carta in September of the year, significantly less than a third of those workers at small technology startups are women.
Some agents of this crypto sector have attempted to deal with matter. According to a recent report, the forthcoming major reshuffle of its management group won’t influence their functions.