Female Venture Companies "Only 9.7% in the Second Venture Boom"... Urging Activation Policies

On the 18th, female venture entrepreneurs held a meeting at Tipstown in Gangnam-gu, Seoul, inviting Lee Young, a member of the Future United Party (center in the photo), to discuss and propose policies for expanding women's technology startups and revitalizing the female venture industry. Photo by Korea Women Venture Association

[Asia Economy Reporter Moon Hyewon] Women venture entrepreneurs proposed policies to the National Assembly to expand women's technology startups and revitalize the women venture industry.

According to the Women Venture Association on the 19th, about 20 women venture entrepreneurs including Park Mikyung, president of the Korea Women Venture Association, Kim Bunhee, CEO of Messy International, and Yoon Miok, CEO of GII&S, held a meeting invited by Lee Young, a member of the Future United Party, at Tipstown in Gangnam-gu, Seoul, the previous afternoon, and conveyed management difficulties and suggestions of women venture companies.

The proposals included ▲support for debt reduction of promissory notes for the re-support of small business owners ▲expansion of R&D support to promote technological innovation of women-owned companies ▲preparation of practical implementation plans for the designation system of competitive products among small business owners ▲preparation of practical implementation plans for the designation system of competitive products among small business owners ▲priority measures for domestic certification in the public procurement market ▲new business proposals to resolve manpower shortages in small businesses ▲measures to activate the purchase of innovative products in the public sector ▲and revision of laws and systems related to smart farms to revitalize urban agriculture.

President Park said, "Recently, challenges for women's technology startups have increased, and existing women venture companies are attempting technological advancement and diversification, raising expectations for quantitative and qualitative growth. It is time to provide active interest and support policies for prospective women venture companies."

According to the Women Venture Association, domestic venture companies reached 37,008 as of the end of last year, supported by government policies, but women venture companies accounted for only 9.7% (3,579) of them.

Among unicorn companies (11 companies), there is not a single women-owned company, and the proportion of women-owned companies among KOSDAQ-listed companies and 100 billion venture companies was only 3.6% and 1.9%, respectively.

On the other hand, the trend of women's challenges in technology startups is increasing. As of the end of last year, women accounted for 39.7% of technology startup founders, and more than 1,876 people participated in preliminary technology startup projects led by women ventures recently, showing a competition rate of about 19 to 1.

Rep. Lee said, "Having lived as a woman venture entrepreneur for 20 years, I know well what policies the field wants. I will bring the policies and tasks discussed today to the National Assembly to consider effective support measures and strive to enact realistic policies and legislation needed in the field."

Meanwhile, Rep. Lee is a first-generation woman venture entrepreneur who founded the digital content security venture company 'Terten' in 2000, served as president of the Women Venture Association, and entered the 21st National Assembly as a proportional representative of the Future United Party in the April 15 general election.

This content was produced with the assistance of AI translation services.