How are female entrepreneurs ensuring they find success in the tech industry? New research investigated their business techniques. The modern business landscape is defined by technology startups, with these companies often embracing disruption and innovation to get ahead of their peers.
A new report from Terem Technologies has found that women are playing an increasingly important role in these businesses, with the rate of ownership increasing over the past few years. According to the organisation, there are a number of reasons why women are drawn to these roles.
One of the main reasons for female interest in entrepreneurship noted in the report is the potential for advancement. Some believe that the companies they left to create these startups were overlooking their potential to succeed at the executive level.
By creating their own business, women are in control of their own career advancement, affording them more opportunities to grow their career alongside the business.
Of course, there are also financial incentives for female entrepreneurs, with Terem Technologies finding that women who create startups often take home twice as much pay as males who follow the same path.
Interestingly, the report discovered that science, technology, engineering and mathematics (STEM) skills aren't necessarily the be-all and end-all for women looking to start a successful business. Of those surveyed, only 19 per cent came from a STEM background. The more common education history involved businesses knowledge, with 41 per cent of respondents possessing a business, commerce or economics degree.
In an August 25 article published by SmartCompany, Co-founder of startup Workible and participant in the survey Fiona Anson said that coming from a business background allows her to approach the tech industry with a fresh perspective.
"We're not looking at the industry with the same old eyes, thinking this is how it's always been done," she explained.
"We've been able to apply lateral thinking and disrupt the sector quite substantially."
Terem Technologies reported that the most common way to get around a lack of technology experience was to outsource to people who do possess that expertise.
The technology sector is driven by many fantastic, yet unheralded individuals and startup organisations who are inventive, inspirational, and passionate about making a difference.
At Talent we’re passionate about recognising and supporting those exceptional people and organisations who are making the world a better place through our Talent Unleashed Awards. And while that doesn’t fit within the traditional narrative of a recruitment agency, that doesn’t bother us.