Meta CEO Mark Zuckerberg’s call for workplaces to “man up” overlooks a key driver of economic growth—women entrepreneurs.

Darsel Keane, Director of the Centre for Innovation and Entrepreneurship at the University of Auckland, and Rod McNaughton, Director of Innovation and Professional Development, argue that increasing female participation in startups could significantly boost workforce engagement and productivity.

Despite progress, women remain underrepresented as startup founders, particularly in high-growth industries.

According to Startup Genome, women make up just 26 percent of startup founders in New Zealand—one of the highest rates globally—yet only about 7 percent of local venture capital funding goes to female-led businesses.

The University Gap

Keane and McNaughton’s research, based on the 2021 Global University Entrepreneurial Spirit Students’ Survey (GUESSS), found that early undergraduate interest in starting a business is relatively balanced between genders—8 percent of men and 6 percent of women at the University of Auckland expressed entrepreneurial ambitions.

However, by the time students consider their five-year career paths, the gap widens: 28 percent of men versus just 18 percent of women aspire to run their own businesses.

Both figures still lag behind global averages (37 percent for men, 30 percent for women).

A key factor is the underrepresentation of women in STEM (science, technology, engineering, and mathematics) and business disciplines, where students are more likely to be exposed to entrepreneurial concepts, role models, and industry networks.

Without this exposure, many women miss out on vital opportunities that could lead to business creation.

Steps Toward Change

Progress is being made.

Female participation in the University of Auckland’s Centre for Innovation and Entrepreneurship (CIE) has grown from 23 percent in 2015 to 44 percent in 2024.

Last year, two of the centre’s alumni were named Cartier Women’s Initiative Fellows, a global recognition of female entrepreneurs making a social and economic impact.

However, Keane and McNaughton highlight that women still enrol in entrepreneurship courses and extracurricular activities at lower rates than men, limiting their early business exposure. To close the gap, they recommend:

• Embedding entrepreneurship across all disciplines—not just STEM and business, but also health, law, and social sciences.
• Increasing access to role models and mentors, ensuring female students see successful women entrepreneurs in action.
• Making startup incubators, pitch competitions, and funding programmes more accessible to women, including creating dedicated funding streams for female-led ventures.
• Reframing entrepreneurship to highlight social impact, as many women are drawn to careers that address sustainability, healthcare, and community development.

By fostering a more inclusive entrepreneurial ecosystem, universities have the power to break down barriers and help unlock the economic potential of female founders.

If New Zealand wants to boost innovation and productivity, it must ensure more women have the support and opportunities to launch their own businesses.

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