A Canadian web3 company recently announced a $10 million commitment toward promoting a balance of sexes within the blockchain community.
The announcement from Toronto’s Bitget was initially made at the Web3 Hub Davos event during this year’s World Economic Forum.
Bitget, which operates a cryptocurrency exchange in Canada and beyond, is concerned that “significant gender bias persists” throughout the web3 sector.
A study from the fintech itself concluded that that female-led blockchain startups secure less than 10% of the venture funding flowing to that market.
The firm’s response to this disparity is Blockchain4Her, an initiative which will include the launch of incubation programs specifically tailored for female entrepreneurs, as well as pitch competitions for female-founded startups.
“Blockchain4Her reflects our dedication to bridging the gender gap in the blockchain industry,” says Gracy Chen, managing director at Bitget.
The initiative will also feature an exclusive experience called Women in Blockchain Summit & Awards. The summit aims to create networking opportunities for female professionals.
Via insightful discussions and recognition events, Bitget endeavours to inspire more women to actively participate and grow their careers in the blockchain industry, according to a statement from the company.
“Through incubation programs, pitch competitions, and recognition events, we aim to empower women to take on leadership roles in the Web3 and blockchain space,” Chen said. “This initiative aligns with our broader vision of creating a more equitable and inclusive future through the power of blockchain.”
Bitget’s Blockchain4Her initiative builds on the success of the Blockchain4Youth project and the Bitget Builders Program.
Blockchain4Youth, also with an investment commitment of $10 million over five years, has played a role in inspiring the younger generation to embrace blockchain technology.
Bitget was founded in 2018 and today serves more than 20 million users across 100 countries.