Bitget Pledges $10 Million to Boost Women-Led Web3 & Blockchain Startups
Summary:
Bitget, a cryptocurrency exchange, is designating $10 million to fund women-led startups in the blockchain and Web3 sphere. This initiative includes starting tailored incubation programs, hosting competitions for startups founded by women, and running the Blockchain4Her drive to promote gender equality. Further, funding for a youth-focused venture, "Blockchain4Youth", has also been announced. A report by Bitget highlighted the current lack of venture capital funding for women-led firms in the industry, emphasizing the need for comprehensive strategies to enhance blockchain inclusivity and accessibility for women.
Bitget, a popular cryptocurrency exchange, is setting aside $10 million to fund startups in the blockchain and Web3 industry led by women. As per their January 16 declaration, Bitget aims to kick-start incubation schemes expressly designed for female pioneers, along with a series of competitive opportunities for startups created by women. Furthermore, the Blockchain4Her platform will convene a Women in Blockchain Summit & Awards to felicitate remarkable women achievers in the blockchain arena. Bitget is also eager to have industry stalwarts on board as advocates for the Blockchain4Her drive, promoting gender equality in blockchain. The advocates will push for conviction-based interaction and champion significant shifts, creating an integrative environment. Bitget has earlier, on May 4, 2023, pledged $10 million towards an initiative targeted at the younger demographic, called "Blockchain4Youth". This venture will run courses via Bitget Academy and regular university lectures on Web3. The exchange is also set to facilitate the development of unique concepts by young entrepreneurs and organize hackathons for the under-30 age group, with an aim of discovering capable leaders. On January 11, Bitget put out a report on the prevailing scenario regarding gender-based Web3 venture capital funding. The study showed that startups led by women, those having at least half of their top management comprising women, were recipients of less than 7% of industry VC funding. At the third quarter of 2023, funding for companies led by women in the blockchain sector was 8.2%, a figure that was, at 20.3%, substantially more when considering startups across a variety of areas, demonstrating the urgency for all-encompassing strategies to boost the participation and access for women in the world of blockchain, the study concluded.
Published At
1/16/2024 10:00:00 PM
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