Web Summit has today announced the findings of its fifth global women in tech report, which shows that women in tech remain underpaid, underrepresented, and underfunded. Nearly a third (29.6 percent) of 1,000-plus surveyed women cited funding as a major hurdle concerning starting a business, reflecting global trends of women-led startups struggling to secure venture capital.
More than half of the respondents noted a lack of women in leadership roles, with nearly 51 percent feeling unfairly compensated compared to men. Balancing a career and family life is an increasing challenge, with sexism in the workplace still a reality for a majority. Despite this, close to 76 percent of surveyees feel empowered to lead.
Known as the event where the tech world meets, Web Summit aims to spark debates that help us understand and address these ongoing issues. Web Summit’s 2024 Women in Tech survey was conducted during the summer among women who have joined our Women in Tech program over the past years.
Key findings:
- A substantial 50.8 percent of women reported experiencing sexism in the workplace, a figure that has shown little change in recent years.
- Nearly half (49.1 percent) of women in the tech sector feel pressured to choose between family and career, marking a 7 percent increase from last year.
- More than 75 percent of respondents acknowledged feeling the need to work harder than their male counterparts, a trend that has remained steady over time.
- Respondents identified unconscious gender bias, balancing career and personal life, the scarcity of female role models, imposter syndrome, lack of support networks, and difficulties in funding as their most significant challenges.
- Despite challenges, close to 76 percent of respondents would feel empowered to pursue and/or hold a leadership position.
- More than 80 percent percent of surveyees stated that there is a woman in senior management in their company, with 68.2 percent reporting that a woman holds a C-level position.
- There’s optimism around AI’s potential to drive positive change. More than 68 percent of respondents have a positive outlook on the impact of AI and automation on gender equity.
“Why do we have 1,000 women-founded startups joining us at Web Summit this year, and why does that number keep growing? This is the question that comes to mind when I see the survey results showing women are still facing the same challenges,” Carolyn Quinlan, VP of community at Web Summit, said in a press statement. She continues “It’s frustrating that issues like sexism, unfair pay, imposter syndrome, and work-life balance keep appearing—it often feels like we’re stuck in the same conversations. Yet, I can’t help but feel hopeful. More women are stepping up, leading, and bringing their startups to events like Web Summit.”
Quinlan noted that since 2021, Web Summit has maintained a near parity ratio in attendees —and the rise in female participation and women-founded startups brings hope that Web Summit can push these conversations forward and create a future where technology is a space for everyone, not just a boys’ club.
See also: The challenges faced by female founders in the startup world
Momentum for change
The call for change is evident. Approximately 56 percent of women feel the industry isn’t doing enough to tackle gender inequality, and 69 percent are dissatisfied with their government’s efforts. Despite the lack of initiatives, more women are empowered to step into the spotlight as opportunities arise. Close to 76 percent of women who answered Web Summit’s survey say they feel empowered to hold or apply for a leadership position.
Web Summit has seen a remarkable rise in women’s participation since launching the Women in Tech Programme in 2015. Designed to tackle gender inequality, the program offers discounts to encourage more women to attend and participate, making events more accessible, and inclusive —helping to foster a more diverse and innovative tech industry.
In 2016, just a year after the initiative’s launch, 42 percent of attendees were women, up from 25 percent in 2013. By 2021, women outnumbered men for the first time, reaching 50.5 percent. Since then, Web Summit has maintained a near-parity ratio
Beyond the Women in Tech program, there has been a significant increase in women-founded startups. This year’s Web Summit 2024, in Lisbon, Portugal will break records with 1,000 out of 3,000 startups attending as part of the startups program.
At Web Summit Rio 2024, 45 percent of the 1,000 startups had a woman founder. Similarly, at Collision 2024, more than 44 percent of startups were women-founded, which represents a 14-point increase from 30 percent the previous year. At Web Summit Qatar 2024, 37 percent of attendees were women, alongside 30 percent of women speakers, and 31 percent of the 1,000+ startups were founded by women.
See also: Highlights: Web Summit Qatar welcomes over 15,000+ attendees to Doha
The growing number of women-founded startups participating in Web Summit highlights the increasing drive among women to connect, innovate, and lead. In the report, one participant emphasized this point, stating,
Being the only woman among male peers in a senior management position allows me to bring other women into similar roles. I have the opportunity to open more spaces for the next women who arrive.
There is also optimism about AI’s ability to drive positive change, with over 68 percent of respondents viewing its impact on gender equity as beneficial. This perspective aligns with recent insights from PWC, which show that when used responsibly, artificial intelligence can expand talent pools, address bias in talent management, and improve workplace collaboration.
Web Summit is committed to fueling these vital conversations about change through its speakers, stages, and networking opportunities, providing a platform for women to drive progress in the industry.
Notably, some of the women speaking at Web Summit 2024, in Lisbon, Portugal include:
- Lidiane Jones, CEO of Bumble.
- Peggy Johnson, CEO of Agility Robotics.
- Moly He, co-founder and CEO of Element Biosciences.
- Meredith Whittaker, President of Signal.
- Margarida Balseiro Lopes, Portugal’s Minister of Youth and Modernization.
- Julie De Moyer, Chief Data and AI Officer at LVMH.
- Etosha Cave, Co-founder and Chief Science Officer of Twelve.
- Eileen Burbidge, Founding partner of Passion Capital.
- Daniela Braga, Founder of Defined.AI.
An echo of global trends
Web Summit’s 2024 Women in Tech report aligns with broader international trends. According to 2023 data from Nash Squared, women still only makeup 14 percent of tech leaders worldwide.
In major companies, women occupy just 26 percent to 29 percent of leadership roles, as noted by the World Bank. Female representation also continues to fall below 50 percent in these companies, underscoring the need for change highlighted by Web Summit’s survey
respondents.
As shown by Web Summit’s report’s findings, funding remains a critical barrier for female founders, with close to a third of respondents (29.6 percent) identifying it as one of the most pressing issues facing women in tech. An analysis from the World Economic Forum, based on Pitchbook statistics, found that women-only startups received just 1.8 percent of VC funding in Europe and 2 percent in the US in 2023. Similar data from Wamda shows that women-only startups received just 0.47 percent of funding in the MENA region in 2023.
See also: “If you are an investor, invest in women,” — Rafaela Frankenthal
The 2024 Women in Tech report is part of Web Summit’s commitment to fostering change, pushing for conversations that spotlight these issues and pave the way for concrete solutions. As women continue to navigate challenges in tech, Web Summit’s mission is to drive a more inclusive and equitable future for all.
