Spain’s Fintech Gender Gap Widens

Spain’s fintech manufacture was meant to beryllium a flagship for invention and inclusion, yet women stay strikingly underrepresented.

According to nan OECD study Bridging nan Finance Gap for Women Entrepreneurs, “only 1 successful 10 entrepreneurs successful nan fintech assemblage is simply a woman, which is simply a diminution from 14 per cent successful 2018.”

The OECD warns that this backward inclination undermines Spain’s broader economical goals. As nan study stresses, “It is of peculiar value to destruct nan existing gender gaps, since our state will not beryllium capable to execute nan desired competitiveness if nan basal measures are not taken to incorporated nan talent of women into nan ecosystem.”

New startup laws, aged barriers

Two flagship laws – nan Start-up Law and nan Create and Grow Law, passed successful 2022 – were designed to boost entrepreneurship, pull overseas investment, and simplify business creation. The authorities described their main intends arsenic providing “tax benefits and nan attraction of world finance and talent.”

However, nan OECD notes that “political and geopolitical uncertainty is hindering nan implementation of circumstantial proposals and objectives that these 2 laws brought to promote entrepreneurship.” The disappearance of nan High Commissioner “Spain Entrepreneurial Nation” successful early 2023 near nan nationalist argumentation “without a clear driver.”

Female activity falls behind

The AEFI’s VI FinTech Women Network Report (2023) recovered that, contempt immoderate betterment successful guidance representation, women’s entrepreneurship successful fintech remains limited.

Among its findings:

• “Only 1 successful 10 entrepreneurs successful nan fintech assemblage is simply a woman.”
• “61 per cent of women affirm that they person had to exert much effort than men to execute their existent master position.”
• “45 per cent of women authorities that they person had less opportunities than men successful their activity environment.”

This regression, nan OECD explains, was “largely owed to nan effects of nan COVID-19 pandemic, erstwhile women were much apt to springiness up their master careers and wantonness their business projects to return attraction of their relatives.”

Why women still struggle to entree activity successful fintech

The OECD and AEFI place respective structural obstacles:

1. Higher fearfulness of nonaccomplishment – “Women person much aversion to nonaccomplishment than men,” accordant pinch earlier investigation (Schubert et al., 1999; Charness & Gneezy, 2012).
2. Limited entree to finance – female founders study “inequality compared to projects led by men.” Studies show antheral investors are little apt to money female-led ventures (Ewens & Townsend, 2020).
3. Few safe networking spaces – galore women mention nan deficiency of suitable spaces to link pinch investors.
4. Lack of domiciled models wrong fintech ecosystems.
5. Bureaucratic delays tin discourage mini founders.

OECD recommendations: Simplify rules, support women

The OECD concludes that Spain must “create an situation that facilitates nan emergence of a competitory scenery for integer financial services while reducing bureaucratic and regulatory obstacles.”

The study proposes:

• Applying a rule of proportionality to licensing requirements, recognising nan quality betwixt B2B and B2C firms.
• Establishing a public–private finance system for women entrepreneurs – akin to nan UK’s Future Fund initiative.
• Promoting visibility and mentorship for women successful fintech.

“Regulatory agility is basal for nan sustainable improvement of this move sector,” nan OECD emphasises.

As Spain repositions its integer system post-2025, advancement connected women’s inclusion will find whether its fintech gyration tin genuinely present for everyone.