Research shows that the male-dominated funding ecosystem is holding back female-led tech firms. If the UK wants to become a tech superpower, this has to change, Jess Jones argues The Sunday Times Rich List emerged last week, featuring the usual suspects such as Sir James Dyson, Lord Bamford, and the Issa brothers. The 40 under 40 chart highlighted that many are making their millions through AI and tech companies rather than fashion.
Among the 2024 victors were Steffen Tjerrild and Victor Riparbelli, founders of AI video creator Synthesia; Martin Kissinger, who established Lendable to use AI for low-risk loan applicants; British twins Oliver and Alexander Kent-Braham, creators of AI-driven insurer Marshmallow; and Herman Narula, whose virtual space platform has amassed him a £780m fortune. Aside from their shared success in the tech sector, they all have another thing in common: they are all men. Where are their female counterparts? There are of course several notable British businesswomen who have scaled successful tech businesses in the UK.
Just look at Anne Boden, founder of Starling, Martha Lane Fox, founder of lastminute.com , Romi Savova, who founded Pension Bee and Poppy Gustafsson, founder and chief of Darktrace. But they are in the minority, and none of them made the rich list.
At the heart of this issue are problems with the funding ecosystem, which is dominated by men. Tech companies founded by at least one female director have been steadily increasing across the U.
