No Tech To Die For: Why Women Must Be Part of The Deep Tech Revolution

In a world racing towards technological supremacy, there's one element we can't afford to leave behind: women's leadership. Without women at the forefront, deep tech will never reach its full potential—and the stakes have never been higher.

UBS estimates the impact at USD 2.5-5 trillion: If women and men were to participate equally as entrepreneurs global GDP could rise by 3-6%, boosting the world economy by USD 2.5-5 trillion.

Why, despite centuries of groundbreaking contributions, are women still facing barriers in shaping the future of deep tech?

For centuries, women have led the way in breakthrough innovations, pushing boundaries and changing the world. I have been part of several hackathons at Outlier Ventures and Swiss Financial Innovation Desk and it's always hard to attract women-lead female start-ups and to overcome the natural bias.

Despite systemic challenges, women have significantly contributed to the deep tech landscape, shaping the way we live, work, and think. Today, we need more women in deep tech – not just to foster gender equality, but to bring transformative solutions that positively impact society.

Women remain significantly underrepresented in Europe's deep tech sector, with only 15% of startups founded or co-founded by women and just 7% founded by all-women teams.

Despite women representing only 30% of the global AI workforce and 6% of deep tech scaleup founders in Europe, their contributions to the field are increasingly recognised as crucial for driving innovation and addressing complex global challenges.

More than three quarters of founding teams behind AI, quantum computing and similar "deep tech" companies in the U.K. are all male, according to a report by RAEng.

As reported by the United Nations Development Programme, improving gender diversity in deep tech is not just beneficial for women, but essential for unleashing the full potential of advanced technologies and ensuring more inclusive and equitable innovations.

1. Revolutionary Women Innovators Who Transformed Tech

The history of AI and computing begins with Ada Lovelace, often considered the first computer programmer. She worked on Charles Babbage’s early mechanical general-purpose computer, the Analytical Engine, in the mid-19th century. Her notes on the engine include what is recognised as the first algorithm intended to be processed by a machine. Without a doubt, Lovelace’s work laid the groundwork for future generations of computer programming. 

• Hedy Lamarr: Developed frequency-hopping spread spectrum technology in 1941, the foundation for modern Wi-Fi, GPS, and Bluetooth.
• Grace Hopper: Pioneered computer programming languages, developing the first compiler and contributing to COBOL.
• Stephanie Kwolek: Invented Kevlar in 1965, revolutionizing protective gear used by law enforcement and military.
• Margaret Wu: Revolutionized synthetic lubricants, improving energy efficiency in engines and machinery, with over 100 U.S. patents.

These women demonstrated the transformative power of female-driven innovation, with contributions that shaped telecommunications, computer engineering, and material science. Their stories underscore how essential women's perspectives are to solving complex challenges.

2. Breaking Barriers: The Current State of Women in Deep Tech

Women still face barriers in deep tech, but they are achieving incredible milestones nonetheless. For example, only 30% of the global AI workforce are women, and in Europe, only 6% of deep tech scale-up founders are female. Yet, female-founded startups have been proven to be more profitable than their male counterparts, showing a 30% higher return on investment, according to a study by the Boston Consulting Group.

The gender pay gap is well documented: women make about 80 % for every dollar that a man earns. Less well known: the gender investment gap. According to the BCG research, when women business owners pitch their ideas to investors for early-stage capital, they receive significantly less—a disparity that averages more than $1 million—than men. Yet businesses founded by women ultimately deliver higher revenue—more than twice as much per dollar invested—than those founded by men, making women-owned companies better investments for financial backers. 

Why Women start-ups are the better bet

Women are also making groundbreaking strides in AI, challenging biases and driving ethical innovation:

• Joy Buolamwini: Founder of the Algorithmic Justice League, who exposed racial and gender biases in facial recognition systems, prompting major tech firms to reevaluate their offerings.
• Fei-Fei Li: Co-developer of ImageNet, which revolutionized computer vision and machine learning.
• Timnit Gebru: Founder of the Distributed Artificial Intelligence Research Institute (DAIR), focusing on the ethical implications of AI and algorithmic biases.

These leaders remind us that we need diverse voices in the AI sector to ensure technology serves everyone fairly and effectively. Their stories highlight not only technical excellence but also the courage to question existing systems and advocate for ethical standards.

To support women in AI, we can contribute by promoting ethical AI development, ensuring fair hiring practices, and encouraging young women to pursue education in AI and related fields.

3. Climate Tech and Beyond: Women Driving the Future

Women are taking the lead in climate tech, creating impactful solutions to fight climate change. Examples include Swathi KJ's TechXEarthspace, developing CO2 capture technology, and Oyungerel Munkhbat's AIREE Felt, producing air filters from sheep wool to reduce carbon footprint.

However, despite their innovative approaches, only 2% of venture capital in Europe goes to female-led companies. Addressing these disparities is essential if we are to achieve our climate goals effectively.

Programs like She Wins Climate by the International Finance Corporation (IFC) aim to increase access to investment for women-led climate startups in emerging markets. By supporting such initiatives, we can ensure equitable financing for crucial innovations that address environmental challenges.

4. Deep Tech Diplomacy and Women's Impact

Empowering Change by Dr. Ingrid Vasiliu Feltes

Deep tech diplomacy is an emerging field that combines technology and international relations. Women in deep tech diplomacy are playing crucial roles in promoting cross-border collaborations, gender-responsive technology policies, and frameworks for ethical AI use.

However, women remain underrepresented in leadership positions in this field, despite being instrumental in tackling global challenges like the UN Sustainable Development Goals. Programs like the Women's Economic Forum and IEEE Women in Engineering are helping to bridge this gap through mentorship and leadership training.

The United Nations Development Programme has noted that improving gender diversity is critical to ensuring that advanced technologies meet global needs inclusively and equitably. Diverse teams generate diverse ideas, resulting in more impactful solutions for everyone.

To foster change, organisations must prioritise creating inclusive work environments, implementing mentorship programs, and actively seeking to fund female-led initiatives. Individuals can also play a role by supporting women in tech through networking, advocacy, and mentorship.

Key areas where women are making significant impacts in deep tech diplomacy include:

• Negotiating international AI ethics frameworks: Ensuring that AI technology aligns with global ethical standards.
• Facilitating cross-border data sharing agreements: Promoting responsible use of data across countries.
• Promoting inclusive innovation ecosystems: Encouraging the growth of tech communities in developing countries.
• Advocating for gender-responsive technology policies: Making sure that technology policies address gender equality.

5. It's Time to Act

We need more women in deep tech not only to correct historical imbalances but also to drive the positive change that comes from diverse perspectives. Female-led startups have proven more profitable and have demonstrated that they bring unique, innovative solutions to the table. By fostering an environment where more women can enter and thrive in deep tech, we will unleash untapped potential that is essential for tackling some of the world’s biggest challenges.

 Let’s advocate for more inclusive policies, equitable funding, and greater representation for women in deep tech. Together, we can create a more innovative and equitable future.

 How You Can Be Part Of The Change:

• Support women-led startups: Invest in female entrepreneurs and advocate for equitable funding opportunities.
• Mentorship: Offer your expertise to mentor young women interested in deep tech fields.
• Promote inclusive hiring: Advocate for fair hiring practices in your organization to bring more women into tech roles.
• Advocate for policy changes: Support policies that ensure equal opportunities for women in technology

Together, through action and advocacy, we can create a deep tech landscape that is diverse, innovative, and inclusive.

Join us at Global Women Investors in Deep Tech Consortium to drive positive change in the world.

The deep tech revolution is underway, but without women leading the charge, it’s a revolution that will never reach its peak. Let’s ensure no talent is left behind—because tech worth fighting for is tech led by everyone.

I am honoured being part of this great initiative to join the Founders Prof. Dr. Ingrid Vasiliu-Feltes, Dr Jane Thomason Paulina Chotrova and Marta Pin (Community Manager) - brilliant minds and innovators in the space.

The Global Women in Deep Tech (WIDT) Investors Consortium is an initiative to empower women investors in the deep tech industry. By combining a global consortium and an impact investment fund, we create an ecosystem that helps women access opportunities and overcome barriers.

Deep Tech without women is NO TECH TO DIE FOR!