Table 1

Suggestions for policy interventions increasing the embeddedness of women entrepreneurs

Systemicinterventions
  • Stimulate programs targeted at different stakeholders that increase knowledge about and create awareness of inequality issues (throughout the entrepreneurship pipeline)

  • Develop policy that promotes a change in narratives used to describe who is an entrepreneur and what are the necessary entrepreneurial skills. For instance, promoting language that highlights the potential of women entrepreneurs and the missed opportunity for investors who overlook them, can help to reframe the issue and encourage more investment in opportunity driven women entrepreneurs

  • Encourage all actors in entrepreneurial contexts to minimise the replication of stereotypical images of entrepreneurs (portray more women – and men – entrepreneurs contesting the norms). For instance, providing education and training on the structural barriers and how they positively impact different contexts can create awareness and understanding

  • Develop gender-sensitive learning environments (within support programs like incubator/accelerator programs and in higher educational contexts). That means providing education and training to raise awareness and understanding on the importance of inclusion in investment. Examples might include offering workshops on unconscious bias or providing case studies on successful investment in women entrepreneurs

  • Stimulate policy that promotes and rewards more preferred behaviours (rather than obstructing them). So, offer incentives to organisations (for instance media recognition) who actively promote and encourage changes to the systemic norms

  • Develop policy that makes different stakeholders accountable. Holding organisations accountable for their role in perpetuating or addressing the gender gap in investment can encourage action(s). For example, publicly reporting on the gender diversity of investment portfolios and setting goals for improvement

  • Make different networks the default option for (all) entrepreneurs, by automatically enrolling them in relevant programs or by providing easy-to-access resources after subscription to the chamber of commerce f. It is important that these networks are inclusive and provide education and training on the structural barriers and how they impact different contexts for entrepreneurs

Individual agency interventions
  • Develop programs that help women entrepreneurs challenge the dissonance between their own individual identity and their entrepreneurial identity increasing their legitimacy as entrepreneurs. This can be done by mentorship programs connecting more experienced entrepreneurs to early-stage entrepreneurs

  • Stimulate specific programs that introduce (early-stage) women entrepreneurs to incubators, accelerator programs, and relevant network ties, including investment networks. Even offer incentives (recognition, awards, funding opportunities) to those who participate actively in networking or mentorship activities to increase their motivation to take part in it

Collective agency interventions
  • Generate policies and programs that support the rise of alternative spaces or networks in which people collectively define goals in accordance with their own values, collectively increase consciousness and voice, and act as a group to achieve goals. Develop programs and training that introduce different types of role models to increase interest in areas with gender underrepresentation, such as entrepreneurship. For instance, using role models as social proof can attract women. The highlighting of successful alumni that have gone through an entrepreneurship education course or incubator program can serve as social proof for other women to apply

  • Encourage investment funds that address the status quo in access to venture capital for “other” entrepreneurs (for instance, women, people of colour, minorities, etc.)

  • Design and implement nudges to influence people’s everyday choices and behaviours, stimulating a more equal entrepreneurial context. For instance, creating new norms that can help to shift attitudes and behaviours. This may be accomplished by seeking out diverse perspectives and experiences when making business decisions

Source(s): Table created by authors

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