All woman-founded teams make up just 7.5% of the UK’s total deep tech startup ecosystem, according to a new report.
Research from the Royal Academy of Engineering found that all male founding teams made up 77% of the UK’s 3,500 deep tech startups, while 15% are mixed.
Deep tech is a broad category of companies that include R&D-intensive firms developing innovative technologies in areas such as robotics, quantum computing and space tech.
Across all sectors, women-led companies make up 17.3% of the UK total, according to The Gender Index.
“I am committed to boosting STEM uptake among people from all backgrounds, to ensure everyone can fulfil their potential as we build a highly skilled workforce in the industries of the future,” said Michelle Donelan, the tech secretary.
Donelan said that recent reforms, notably the recommendation of a reduced stake held by universities in spinouts, would encourage “more innovators to turn their ideas into blossoming businesses that create those expert jobs and grow our economy”.
The report found that university spinouts represented 17% of the UK deep tech sector.
Recent data published by Beauhurst found that women-led businesses secured just 3.5% of the equity funding being invested in UK businesses during the first half of 2023.
Ana Avaliani, director of the Royal Academy of Engineering’s Enterprise Hub, said it is “vital for a more successful, inclusive ecosystem that the gender imbalance in deep tech leadership is addressed and that leadership diversity in deep tech enterprises is championed”.
The report also found that the sector is currently being dominated by clean tech and AI.
“While there is much to celebrate, the State of UK Deep Tech underlines the important work still to be done to support deep tech founders to scale and grow their companies in the UK,” said Avaliani.