Recently DUAMENTES announced the Global Entrepreneur Equality Study report, featuring insights from over 200 female entrepreneurs across 40 countries. The study reveals unique perceptions of male and female role models and offers insights into the influence of local role models and family support on the journey of female entrepreneurs.
“Our non-commercial study on women entrepreneurs is focused on providing valuable insights applicable at personal, family, community, and state levels. By understanding the factors driving women in entrepreneurship, we aim to foster a more equitable environment across all spheres of society,” said Ksenia Sternina, International Managing Partner at DUAMENTES.
The study reveals that most women (71%) identified men as their role models, primarily on a global scale. Meanwhile, female role models (57%) were associated with local figures. Male role models are seen as innovative, fearless leaders, while female role models are viewed as stereotype fighters and barrier breakers, demonstrating that entrepreneurial success can coexist with a fulfilling personal life. The respondents explain that this difference stems from inadequate representation in business and concerns regarding the reliability and awareness of local female success stories and positive examples of building their businesses.
Anum Kamran, founder of ElleWays, emphasizes, “Women in Pakistan face barriers such as limited access to financial resources and cultural expectations, hindering their entrepreneurial pursuits. Overcoming these challenges requires targeted support, including increased financial inclusion and initiatives that challenge traditional gender norms in business.”
DUAMENTES study reveals almost 70% of the respondents relate more to local role models than to figures well-known globally. Female role models are not always big personalities or celebrities. Family members, teachers, and like-minded entrepreneurs can be role models too. They can inspire the community by setting an example and sharing the same “closer to the ground” experience. These communities also play roles of support and mentorship, which is crucial in the early stages of business development. Many female entrepreneurs aren’t aware of any local role models. This lack of awareness is worsened by the historical underrepresentation of women in business.
Local role models and community play a crucial role in shaping the mindset and success of women entrepreneurs, addressing challenges related to fake equality. “Despite the absence of business experience and initial skepticism, I didn’t let doubts prevail. Participation in local business incubators and accelerator programs has bestowed invaluable experience,” stated Akmaral Yeskendir, founder of ADU24 marketplace.
Recent insights within DUAMENTES female-focused event highlight a preference for relatable role models among women, as global figures may be discouraging. Aray Kamaliyeva, co-founder of DermaMarker and Invenire startups, said “It has always been important for me to have a role model at the local level. Comparing yourself to global leaders can create a sense that you might not be able to handle certain challenges, and that you are significantly different from them and their background. It’s even possible to lose faith in yourself and your project.”
Highlighting challenges and stereotypes while emphasizing the value of local communities is crucial for women founders. It not only aids in navigating the global landscape but also plays a strategic role in positioning oneself to overcome barriers effectively.
Katharina Wöhl, Head of International Sales at Accso said, “The main barriers for local female entrepreneurs in South Africa include first-generation access to education, generally limited access to resources, cultural and gender-based discrimination and significant hurdles in access to mentorship, which all impede the initiation and growth of the businesses of local female entrepreneurs in South Africa.”
Female entrepreneurs, often lacking social and financial support and facing skepticism while starting their own businesses, emphasize the significance of self-belief and determination. “It’s crucial to distinguish between genuine support and tokenism. Women founders are not checkboxes for diversity; we are architects of innovation and drivers of change, especially in the industries neglected.
Elina Valeeva, CEO and co-founder of the Essence App, expressed the need to challenge the male-focused world. Amina Oultache, founder of Creadev, emphasized the unequal financing between men and women in international fundraising efforts. Anum Kamran highlighted the importance of accessible education and mentorship programs to empower women globally. Katharina Wöhl stressed the significance of inclusive local communities and mentoring to support less globally integrated women. Additionally, DUAMENTES, as a Global Alliance, disclosed plans to develop the Equality Guide, aiming to bridge the gap between intentions and reality with collaborative efforts from inspiring leaders and partners. To support startups in diverse industries and drive innovation, DUAMENTES company intends to actively promote the Guide within accelerators, venture funds, and governmental institutions.
