Bitget Launches $10M Fund to Support Female Led Startups in Web3
Cryptocurrency exchange Bitget has launched a new initiative dubbed the “Blockchain4Her” group which aims to support female-led businesses.
It is no secret that the blockchain and Web3 sector has been historically male-dominated. Blockchain4Her will launch incubation programs tailored especially for female entrepreneurs. This will include a $10 million fund which will support female-led startups in the blockchain industry.
Bitget, a Seychelles-based cryptocurrency exchange, said in a recent study it found that there is limited gender diversity in the blockchain funding market. Findings show that female-led blockchain startups secured only 6% of the total funding in the blockchain sector.
“In an industry that is evolving rapidly, diversity and inclusion are vital for sustainable growth,” said Gracy Chen, Managing Director of Bitget, in a press release.
Chen explains the Blockchain4Her initiative reflects Bitget’s goal to bridge the gender gap in the blockchain industry. She said the group aims to achieve this through incubation programs, pitch competitions, and recognition events. The group will empower and encourage women to take on leadership roles in the Web3 and blockchain space.
“This initiative aligns with our broader vision of creating a more equitable and inclusive future through the power of blockchain,” adds Chen.
The announcement was made during the Web3 Hub Davos event hosted by CV Labs, at the World Economic Forum 2024.
Recently Bitget released a report on blockchain funding across 2022 and 2023 highlighting the latest trends including gender disparities in the present VC ecosystem. In a Jan 11 release, the exchange revealed that blockchain startups have received $27.85 billion between January 2022 and Q3 2023
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