When it comes to crowdfunding women in the Middle East are ahead of men

 In Entrepreneurship, General
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Originally published in The National by Alice Haine (link below)

Philip Bahoshy, the founder Magnitt, says that crowsourcing websites are in their infancy in the region.

Women in the Middle East are better at securing seed crowdfunding than men, a new report from global consultancy PwC and The Crowdfunding Centre has revealed.

While more men turn to crowdfunding to fund their ventures, 10 per cent of women in the region reached their funding target compared to 6 per cent of men, according to the study Women Unbound: Unleashing female entrepreneurial potential.

In the UAE itself, of the 125 male-led campaigns, two were successful at a 1.6 per cent success rate compared to three successes for the 21 female-led campaigns at a 14.3 per cent success rate.

Globally women were 32 per cent more successful at hitting their target.

Despite men seeking higher funding amounts, the study found that average pledged amounts for female-led campaigns in the region are 29 per cent higher than male-led campaigns – globally that difference is 5 per cent.

Read full article here…

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