Female entrepreneurship crucial for the economy - Dell global VP of marketing Allison Dew
Encouraging successful female entrepreneurship is crucial to avoid an economic impact that could lead to big societal problems according to Dell global VP of marketing Allison Dew.
Speaking on a panel at Cannes Lions on tackling the gender gap in the global creative tech sector, Dew highlighted the small proportion of startups founded by women that got past the £1m valuation mark and said it was crucial women were encouraged and supported to become successful entrepreneurs to feed the economic need for new businesses.
“Women don’t have the same access to capital and information as men do when starting a business. A lot of our initiatives are around women entrepreneurs, focussing on areas such as how to pitch and how to raise capital, thing that a lot more men organically learn,” she said.
In a Cannes Lions festival where the diversity has never been higher, the panel discussed the best ways for creative and technology businesses to drive diversity in their business.
The facts are stark. Women today only make up 3% of creative directors and 17% of the overall tech workforce, with only 25% of senior advertising roles held by women. The problem begins at school. While research shows seven in ten young girls are interested in science, only two in ten adult women pursue a career in science, pointed out Unruly co-founder Sarah Wood.
56% of women in the sector leave mid career, twice the rate of men. Dispelling the myth the women do not return due to finding satisfaction in the home, 84% expressed a wish to return to a fulfilling career.
“All this is bad news for everyone, as diversity equals innovation, profit and revenue,” said Wood.
One of the most important ways to engender the needed change in the industry is for senior women to change the conversation and culture within their own organisation, said Dew. However, the role of men was important too.
“We have a programme at Dell called Men Advocating Real Change to show men how to drive diversity. Many men I’ve worked with do want to change the workplace but don’t know how,” she said.
Deirdre McGlashan, Global Chief Digital Officer at MediaCom, agreed that the focus needed to be on men as much as women to encourage an environment where women were treated equally.
One of the biggest issues in recruiting and retaining female talent in the creative tech sector is providing the right support mechanisms.
“The myth that ‘women’s brains don’t work that way’ is just simply untrue. Over 50% of the attendees on our courses have been women, for instance,” said Decoded founder Kathryn Parsons. “But there is a huge issue with confidence and nurturing that confidence is a responsibility we all have to take.”
The panel echoed many of the findings in a report launched this week by The Drum in association with Critical Mass - The Female Perspective: A Vision for Change.
The report is available to download here.