JPMorgan Says ‘Shockingly Low’ Number of Startups in Asia Led by Women
- Female-led startups include unicorns Airwallex and Xendit
- ‘Bro culture’ and networks cited as challenges for women
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Only 5.7% of startups in Asia-Pacific are led by female entrepreneurs, a percentage that has stayed stagnant for five years, according to a JPMorgan Chase & Co. study.
“The number is shockingly low,” Kam Shing Kwang, chief executive of the JPMorgan’s Asia private bank, said in an interview. “I think sometimes we focus on a few very successful women and say, oh we have arrived. We are minorities.”