Mark Zuckerberg’s recent comments about business needing to “man up” have sparked a debate about the role of women in entrepreneurship. Research shows that promoting female entrepreneurship can drive economic growth. A 2024 study emphasized this point, and the McKinsey Global Institute reported in 2015 that advancing women’s workforce equality could boost the global economy.
Despite these findings, women remain underrepresented as startup founders, especially in high-growth industries. Only 26% of founders in New Zealand are women, which is higher than in many other regions. However, venture capital funding is even more discouraging, with only about 4% of Australian venture capital and 7% in New Zealand going to startups founded solely by women.
Encouraging women to develop entrepreneurial mindsets is crucial for addressing productivity stagnation. Our latest research examines why fewer women undergraduate students at the University of Auckland opt for entrepreneurship and what universities can do to close this gap. Using data from the 2021 Global University Entrepreneurial Spirit Students’ Survey, which surveyed over 267,000 students in 57 countries, we assessed the gender gap in entrepreneurial interest.
Early indications among 1,050 undergraduate students from the University of Auckland showed similar interest levels from both genders in founding a business. However, as students advanced, the gap widened. Five years after graduation, 28% of men and 18% of women at the University of Auckland aspired to run their own businesses.
Several factors discourage women from entrepreneurship after graduation, including societal expectations, industry norms, and lack of access to funding. Confidence also plays a role; women in our survey reported lower confidence in their ability to start a business than men. The subjects students choose greatly influence their exposure to entrepreneurship.
Zuckerberg’s comments and gender disparity
Women at the University of Auckland are underrepresented in STEM and business, typically associated with higher entrepreneurial interest. Without such exposure across all disciplines, many women may miss essential opportunities.
Efforts at the University of Auckland show promising trends; female participation in the Centre for Innovation and Entrepreneurship programs increased from 23% in 2015 to 44% in 2024. However, women still enroll in entrepreneurship courses and extracurricular activities less frequently than men. To close the gender gap, universities must integrate entrepreneurship into disciplines beyond STEM and business.
Tailored programs should illustrate how entrepreneurial thinking applies in these fields. The presence of role models and mentorship is equally essential. Universities should actively involve women founders as speakers, mentors, and partners.
Moreover, practical experience is invaluable. Universities must ensure that startup incubators, pitch competitions, and funding programs are accessible to female students. Unique funding streams for women-led ventures can help level the playing field.
The framing of entrepreneurship also matters. Many women are drawn to careers with social impact. Highlighting how startups can drive change in sustainability, healthcare, and community development can make entrepreneurship more appealing.
By integrating entrepreneurial concepts into all disciplines, increasing the visibility of female founders, and fostering inclusive networks, universities can break down the barriers that hold women back. If action is taken now, untapped potential can be unlocked, driving future economic and social impact.