Bitget Invests $10 Million in Women Led Web3 Startup

Bitget invests $10 million into women led enterprises within the Web3 and blockchain industries which includes incubation programs.

On January 16, the cryptocurrency exchange Bitget announced that it will invest ten million dollars in women-led enterprises operating in the Web3 and blockchain industries.

On January 16, the exchange announced the launch of incubation programs specifically targeting female entrepreneurs as part of the effort. In addition, the exchange will host pitch competitions for firms created by women.

In addition, Blockchain4Her will be hosting a Women in Blockchain Summit and Awards event to acknowledge the remarkable accomplishments of women working in the blockchain industry.

“Bitget will also invite industry leaders to join as ambassadors for the Blockchain4Her program, supporting gender diversity in blockchain. Ambassadors will advocate, engage, and drive positive changes, fostering an inclusive environment.”

On May 4, 2023, the exchange made a similar announcement, announcing that it would be launching a $10 million project for emerging talent.

The initiative, named “Blockchain4Youth,” will also offer courses through Bitget Academy in addition to hosting university lectures on the subject of Web3.

To identify the most potential leaders, the platform will also hold hackathons for under 30 participants and provide an incubator for creative projects developed by young entrepreneurs.

The exchange released a study on the current situation of venture capital (VC) funding for Web3 companies, broken down by gender, on January 11th. Researchers found that female-led startups received less than seven percent of venture capital funding in the sector.

These startups are classified as series-stage businesses with at least fifty percent female CEOs. As of the third quarter of 2023, women-led blockchain startups receive only 8.2% of funding, which is 2.5 times lower than the overall figure of 20.3% for startups in various fields.

The findings of the study led the researchers to the conclusion that “this underlines the necessity for comprehensive efforts to promote the inclusion and accessibility of the blockchain sector for women.”