Just like any startup company in its early stages, the biggest challenge for female entrepreneurs and those from Israel's ultra-Orthodox and Arab sectors is raising capital. These entrepreneurs typically lack tech industry networking connections from the army, school, or childhood youth movements to help them overcome the financing challenge. "Expanding support for technological initiatives of Arab and ultra-Orthodox entrepreneurs provides a tailwind to their continued successful integration into Israeli high-tech, Dr. Ami Applebaum, chief scientist at the Israeli Ministry of Economy and Industry and the chairman of the Israel Innovation Authority, said.
According to Israels Central Bureau of Statistics, although women constitute approximately one-third of the world's entrepreneurs, only 14% of Israeli businesses are owned by women and just 4% of them employ other workers. According to data provided by Tel Aviv-based research firm IVC Research Center Ltd., only 7% of the technology startup founders in Israel during the last 17 years were women. OECD data reveals that startups managed by women receive 23% less money than companies headed by men and they have a 30% lower chance of achieving an exit. Furthermore, more than half of the female entrepreneurs in the technology sector choose to influence and promote initiatives in fields considered difficult to finance public administration, health, education, and social services. One of the many reasons for this is that initiatives meeting women's and community needs encounter difficulty in recruiting funding due to a lack of familiarity or a lack of understanding of the potential involved.
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