Lack of Gender Diversity & More Women Leading Automotive Industry May Be All About The Money

SITUATION:
There is a compelling need for the automotive leaders to seek to uncover & deal with the underlying cause(s) of gender imbalance and disparity in automotive management & the Industry, in general.
No industry organization, women’s association, or individual women or men seem to be acting, even demanding, that change(s) needs to made and now.
It becoming apparent– It is all about the Money— If investors and funding infrastructure would underwrite and back female management and innovators, then thing would change

SIGNIFICANCE:
Is it becoming apparent that actions are being deployed to promote gender parity and women’s empowerment.
The opportunity for investing in women-owned automotive business is here and now.
Women owned-firms still only contribute 4% to overall business revenues—a figure.
There’s Still A $189 Billion Gender Gap In Startup Funding.
Study finds that male venture capitalists are more likely to invest in male-fronted startups.

SOLUTIONS:
1) Women need financial backing for new ventures, equity ownership, and company building.
Investment entities need to fund, back, and advocate more women in leadership roles and new ventures.

2) Industry training organizations, conferencing companies, industry trade association and automotive top management at OEMs, dealership, Aftermarket,Remarketing, and Suppliers must lead.

3) The entire automotive industry leadership must acknowledge that there is a problem — and then set about constructively to fix it.

SAYS:
“Female founders continue to face endemic barriers in accessing capital to start and grow their businesses,” — NWBC Chair Liz Sara.
“I also predict that we are on the verge of a shift where VCs and LPs will be much more focused and have more foresight into the potential consequences of products.

STATS:
Data indicates that female founders received only 2.2% or just $2.9 billion of the total $130 billion of 2018 venture capital dollars.
Women are underrepresented among higher level positions like first/mid-level officials and managers (18.1%) and executive/senior-level officials and managers (17.6%).
Automotive industry are male-dominated. In 2019, women represented  17.9% of automobile dealers;9.9% of automotive repair and maintenance employees.

SOURCES:
Read and follow Catalyst- they are on it:  https://www.catalyst.org/research/women-in-the-automotive-industry/

Why Women Make Better Venture Capitalists  https://www.forbes.com/sites/allysonkapin/2020/01/15/why-women-make-better-venture-capitalists/#6f3b6d3b4faf

ADDITIONAL RESOURCES:
Automotive Industries Association of Canada, Advancing Women in Automotive Knowledge Exchange (AWAKE) Needs Assessment Report (2016).
Carla Bailo and Terry Barclay, The Road to the Top Is Not on the Map: Conversations with Top Women of the Automotive Industry (SAE International, 2019).
Catalyst, Quick Take: Women in Male-Dominated Industries and Occupations.
Robert C. Yeager, “Women Get Feet in the Door of the Car Design Boys’ Club,” The New York Times, October 18, 2018.Funding Female Founders .gif

 

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