Female-led crowdfunding campaigns are more likely to reach their funding targets than male-led ones, a new study published last week by consultancy firm PwC has discovered.
An analysis of over 450,000 crowdfunding campaigns by nine of the world’s largest crowdfunding platforms showed that female-led campaigns were 32 percent more successful at reaching their funding target than male-led campaigns.
“Even in more male dominated sectors, such as the technology sector, where there are nine male-led campaigns to every one female-led campaign, female-led campaigns are more successful,” PwC said in a statement.
The study also found that 83 percent of the crowdfunders in the Middle East were men, while only 17 percent were women, compared to 72 percent men and 28 percent women globally.
The study also said that 10 percent of the female professionals in the Middle East were able to achieve their financial targets compared to only six percent of their male counterparts in the region.
Arab women are faced by social and cultural challenges in different countries in the region. Women in Saudi Arabia are not allowed to drive cars in the kingdom.
But recently new measures were introduced to relax rules limiting women’s travel, career opportunities and public engagements.
The United Arab Emirates (UAE) on the other hand is working to boost women’s presence in the workforce.
The emirates hired five new female ministers in a cabinet reshuffle last year.