Salient Advisory’s recent report, reveals that a mere 2% of funding supports female founders. Women-led ventures heavily rely on grants and debt due to this financing gap, often leading them to be perceived as social enterprises, consequently impacting healthcare innovations.
1- Can you elaborate on the key findings of Salient Advisory’s latest Market Intelligence report regarding the funding distribution between male and female founders in the healthcare supply chain innovations ecosystem across Africa? Women founders reiterated that their access to funding is uneven because there is a fundamental inequality in the access to funding by women. Compounding the access problem, even though women raise less money, they also spend much more time working to raise those funds. If you look at the time value of money, and the depreciation they experience, it’s a lot.
3- The i3 initiative by Salient Advisory is mentioned as a potential solution to bridge the funding gap and build inclusive ecosystems for women founders. Could you provide more details about how this initiative works and its goals in fostering a supportive environment for women in the industry? The i3 program has fostered a supportive environment for women in the health tech industry by addressing women’s unequal access to funding. In the first I3 cohort, 48% of the companies selected were women founded. The same intentional thinking is in place for the second year of the program.
Reversing this will require stakeholders to be intentional about limiting or eliminating gender bias, such as by designing funding mechanisms that prioritize women entrepreneurs, creating exclusive funding programs for women founders, and increasing the number of women on funding-related decision-making committees.
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