Mark Zuckerberg recently called for businesses to “man up” in an interview with Joe Rogan. He said that corporations need to celebrate aggression more and that masculinity has positive merits. However, one of the biggest opportunities for economic growth lies in promoting female entrepreneurship.
A 2024 study showed that supporting women entrepreneurs can drive significant economic growth. Despite this potential, women remain underrepresented as startup founders, especially in high-growth industries. In New Zealand, only 26% of founders are women.
In Australia, just 4% of venture capital goes to startups founded solely by women. Encouraging women to adopt entrepreneurial mindsets could address stagnating productivity in both countries. But barriers deter women from taking this path.
Research at the University of Auckland examined why fewer women students pursue entrepreneurship and how universities can help bridge this gap. Data from a global survey of over 267,000 students in 57 countries was used to assess the gender gap. Among 1,050 University of Auckland students, interest in founding a business was similar for men and women early on.
But as students progressed, interest levels diverged.
Gender disparities in entrepreneurship
Five years after graduation, 28% of men and 18% of women at the university wanted to run their own business, compared to global averages of 37% for men and 30% for women.
Factors like societal expectations, industry norms, lack of funding access, and lower confidence discourage women from entrepreneurship. The subjects students choose also influence their exposure to entrepreneurship. Women are underrepresented in STEM and business disciplines at the university, which are associated with higher interest in starting businesses.
Without efforts to introduce entrepreneurship into more disciplines, many women may miss out on vital opportunities. To close the gap, universities must integrate entrepreneurship across all fields. Tailored programs can show its relevance in various disciplines.
Role models, mentorship, hands-on experience, and special funding for women-led ventures are also crucial. How entrepreneurship is framed matters too. Highlighting how startups can drive social impact in areas like sustainability and healthcare will make it more appealing to many women.
By taking these steps, universities can help break down barriers holding women back. Those that act now can unlock untapped potential and drive future economic and social impact. More women entrepreneurs are needed, not businesses that “man up.”