MIDA Women On The Board Initiative
MIDA Women On The Board Initiative is a curated talent marketplace for the tech community to recommend, discover, and connect highly qualified women leaders with opportunities to serve on private and public company boards.
Our vision is for all tech company boards to use gender diversity as an opportunity to realize greater company performance. By our estimates, 75-78% of privately funded tech company boards have no women. Yet we know that board diversity is a proven driver of business performance and that establishing diversity earlier in a company’s development allows us to create a more diverse and productive culture now, not later.
- It’s a well-known fact that women are underrepresented in tech workplaces, but despite industry initiatives to change this, representation is actually getting worse.
- Worryingly, the number of all-male boards is on the rise, according to SvB’s “Startup Outlook” report, which suggests companies’ focus on diversity initiatives may be mere lip service:
- For all the work being done to change this ratio in the U.S., this year’s survey respondents report there is no progress in the aggregate.
- The bank surveyed 941 startups and found that 70% didn’t have a single female board member in 2017. This is up from an already unimpressive 66% last year.
- Similarly, more than half of firms, 54%, reported no female executives, up from 46% in 2016 to 54% in 2017.
- This isn’t just a diversity issue, but a financial one too, as research has found that more diverse boards actually perform better than their more homogenous counterparts. A Grant Thornton study found that UK, US, and India firms with at least one woman on board beat male-only boards by $534 Billion in 2014.
- Grant Thornton’s Francesca Lagerberg compared diversity to a shift towards renewable energy when presenting the study:
- We know it’s the right thing to do – both in terms of fairness and for sustainable future growth – but collectively society is dragging its heels.
Together with leaders in the tech community, we have access to thousands of women leaders with the talent, track records, and thoughtfulness to be great board members. However, until now, there has been no way to discover and share highly endorsed candidates for tech boards of every stage. (Series A through IPO or Acquisition)
MIDA Women On The Board Initiative leverages the power of our community by inviting CEOs, leading executives, and investors to help identify and nominate female board candidates in a private, peer-to-peer platform and to use MIDA Women On The Board to identify outstanding Board-ready women for open board seats.