The UK technology industry celebrates International Women ‘s Day

This year’s theme is International Women ‘s Day #BreakTheBiaswhich are being used by women in technology as a platform to highlight the long – term and deep – rooted issues of the sector.

Women of technology founders, entrepreneurs and executives have welcomed the progress made towards gender equality in the UK technology industry, but warned on International Women ‘s Day that much more needs to be done.

Said women working in UK technology RATN that improvements are needed at all levels – from funding to recruitment to leadership roles. They also shared some of the steps that need to be taken to improve gender equality in technology.

“Equality still has a way to go in any industry, especially in technology,” says Konstantia Barmpatsalou, DevOps security engineer at London-based cybersecurity company Obrela Security Industries.

“In most cases, this is a cultural issue, something that cannot be completely eradicated from the bottom up… The technology industry needs to make a greater effort to serve women, in particular, with the diverse opportunities available to all genders to promote. within the industry. ”

Founder women are slowly getting more funding

Funding for women founders has historically ignored in comparison to male start-ups. Experts have pointed to the lack of women in decision – making roles in investment firms, and study from All Raise finds that only 13.3% of VCs are women to influence investment decisions.

However, data collected by Tech Nation shows signs of promise for female-based technology firms. The report found that to date, in 2022, there have been 18 rounds of funding from technology businesses of female origin, raising a total of $ 1.7bn.

That figure has already surpassed investment in technology businesses of female origin for the whole of 2019 and 2020.

If this trajectory continues, it will be on its way to surpassing the highest funding year ever raised by female-based technology firms in 2021.

“Finally, we have made tangible progress in celebrating International Women’s Day in 2022!” says Sarah Wood, co – founder of Unruly and board member of Tech Nation. “Venture capital providers have long ignored and underestimated female entrepreneurs. It is extremely difficult for women entrepreneurs to find funding for their unconscious tendencies and outdated stereotypes. techno boot.

“So it’s a great time to be able to recognize that change is happening, that access to finance is improving, and that investment is being made in women – based businesses. techno businesses have been on the road for the biggest year ever. ”

Positive statistics like this show signs of progress, but the bigger picture shows that things are far from perfect.

The British Business Bank’s analysis of Beauhurst data showed that overall VC investment levels in female founders are still below 5%.

Improving pay and work-life balance

Investment is only part of the equation. The gender pay gap in the technology industry is narrowing, but by 2020 there were women on average offered 2.5% less salary than their male counterparts when they applied for the same job title at the same company in the technology industry.

Equality experts say that making wages more transparent can help reduce the gender pay gap. However, only 24% of UK companies required to submit gender pay gap data to the Equality and Human Rights Commission by April 2022 did so this year.

Apart from salary, there are steps that technology companies can take to make workplace environments more welcoming for women.

“There are systemic changes that must be made in the industry to end sexuality in the workplace as well as actively seek to attract and retain more female talent,” says Sophie Davies-Patrick, CTO of MPB.

Rachel McShane, CFO, digital wallet at London – based fintech firm Paysafe Groupstates that technology companies should “improve work-life balance to enable you to be a parent AND have a seat at the table”.

She said: “If the pandemic has taught us one thing about flexible working, it is that it can be more productive and you do no less of the job, if anything you are doing more . ”

International Women’s Day: reducing employment trends

For many, the obvious issue facing women in technology is biased recruitment. Annette Evans, Vice President at Global Processing Services, suggested that technology recruiters should “ask themselves tough questions about thinking of bias”.

These questions might include “If there are not enough women in your team, why is that? If there are women on your team, are they visible? Do you create an environment where women can progress as much as anyone else? Do we do that as a business too? If not, what can we do to bring about change? “

According to Evans, asking questions like this is a crucial early step in supporting women in the industry.

Another suggestion to accelerate improvements for women in technology is to provide better mentoring and education opportunities for women in the early stages of their careers.

“I am personally a strong proponent of coaching and mentoring because I have learned so much,” says Shruti Rai, co-founder and VEC of an influential start-up banking firm Novus.

“It would not be possible without a strong network of mentors to be confident of leaving a stable job and taking a pay cut with a child and paying a mortgage.”

The UK technology industry celebrates International Women ‘s Day

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