SAN FRANCISCO, Sept. 17, 2020 /PRNewswire/ -- Nearly half of female founders and CEOs in the plant- and cell-based food technology industry report encountering bias from investors, with gender bias overwhelmingly cited as the most common form, according to a survey conducted by the Vegan Women Summit™, a media and events organization dedicated to inspiring, educating, and empowering rising women leaders to bring compassion to their career and industry.
The Vegan Women Summit™ survey polled 160 women founders and top executives at plant-based and cell-based food startups around the world in July and August. In a key finding, 48% of respondents say they have faced bias during the fundraising process, with 75% of those women saying they have faced gender bias specifically.
"It's incredibly disappointing to hear that gender and racial bias continue to have such a significant effect on investment in innovation in such a strong emerging market," said Jennifer Stojkovic, founder of Vegan Women Summit™. "Women entrepreneurs in food tech are dealing with the same obstacles that women leaders, particularly women of color, have faced in Silicon Valley for decades. But information is power. While these survey results call attention to the disparities in the food tech industry, the numbers also reveal major opportunities for strategic investment."
Despite the barriers facing these women leaders, the survey also demonstrated promising growth potential for the industry. More than one-third (35%) of all founders shared that their business has inspired them to move toward a more plant-based diet, indicating that the explosive growth in the plant and cell-based space is attracting entrepreneurs from all backgrounds. Further, almost two-thirds (63%) of founders stated their plan to fundraise within the next year, with 59% of respondents aiming to raise at least $1 million dollars in investment and 11% seeking $10 million dollars or more.
Other notable findings from the Vegan Women Summit™ survey include:
"The results of the Vegan Women Summit™ survey present the most detailed portrait available of the challenges women face in this emerging industry," Stojkovic said. "At the same time, the survey reveals the massive opportunity for investment in female founders. Over $1 billion dollars has been invested in the plant-based space since the pandemic began in March. With nearly two-thirds of female founders fundraising within the next year and more than half seeking investments into the millions, there has never been a better time to invest in female-led innovation."
More than 250 women attended the inaugural Vegan Women Summit™ in San Francisco in February. In March, the organization launched a virtual gathering series with more than a dozen business, lifestyle and activist icons, including Miyoko Schinner, Suzy Amis Cameron, Maggie Baird, Pinky Cole, and more. In June, the organization held a racial equity summit with Tabitha Brown for a global audience of over 1,000 attendees. The series has garnered nearly 6,000 attendees worldwide.
For more information about Vegan Women Summit™, visit https://veganwomensummit.com/.
For more information about the Vegan Women Summit™ survey, visit https://veganwomensummit.com/founder-survey.
About The Vegan Women Summit™
Vegan Women Summit™ (VWS) is a global events and media organization created to empower female-identifying change makers to bring compassion to their careers. VWS hosts events with the goal to foster a community of strong, ambitious rising leaders working to build a kinder, more sustainable world. VWS is supported by leading CEOs, venture capitalists, artists, athletes, & nonprofit leaders from around the world. For more information, visit https://veganwomensummit.com.
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SOURCE Vegan Women Summit