Initial situation/policy problem
A recent study by IfM Bonn, in line with international research, has shown that young companies led by women in Germany are less likely to use venture capital (VC) financing than young companies led by men, especially when they are managed by a team. This suggests that innovative companies (start-ups) led by teams of women are less likely to use VC than start-ups led by teams of men (see also Start-up Monitor). In addition, although not generally but under certain conditions, they receive lower amounts of financing. How gender-specific differences in venture capital financing arise, what role the gender of investors plays in this, and how these differences affect the further financing and economic development of start-ups is not yet fully understood.
Research goals/approach
The aim of the project is to examine the use of venture capital by start-ups in Germany from a gender perspective and to identify as comprehensively as possible the determinants of its use and the amount of funds raised. In addition, the influence of venture capital financing on the economic development of start-ups led by women and men will be examined. The startupdetector, a database that includes all start-ups in Germany listed in the commercial register and dating back to 2014, will be used as the data basis. In addition to company information, it also contains information on the gender of the founders and on venture capital financing (including timing, financing round, amount, type of investor, gender of business angels).