While female investors and women-owned businesses are still underrepresented on the venture market, the study found the climate was steadily improving.
Often hailed as Michigan’s Silicon Valley, Ann Arbor is home to a variety of entrepreneurs and up-and-coming tech firms. Recently published research now indicates the city is a major hub for women-led startups.
A study published by the Center for American Entrepreneurship found Ann Arbor was one of the top cities in the U.S. for female-founded startups. The study is based on the number of these startups — with a criteria of at least one female founder — raising initial venture investments over the past 20 years.
In recent years, there has been an increase in women-founded venture-backed startups in the U.S, according to the study. It looked at the number of startups in the U.S. that raised their first round of venture capital financing between 2005 and 2017. From this information, the researchers concluded the share of women-led startups that were able to raise a first round has improved from 7 percent to 21 percent of the total share.
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