Female entrepreneurs choose local women as role models

DUAMENTES is pleased to announce the availability of the Global Entrepreneur Equality Study report, featuring insights from over 200 female entrepreneurs across 40 countries.

The study explores perceptions of male and female role models and examines the impact of local role models and family support on the journey of female entrepreneurs.

Key findings

The study found that a majority of women entrepreneurs (71%) mention male role models, viewing them as global figures and inspirational leaders. Conversely, when female role models are mentioned (57%), they are typically community-level figures, recognised for their efforts against stereotypes. The trend reflects the prevalence of successful male leaders in global narratives, whereas female role models often highlight overcoming challenges.

Both male and female role models

Thirty-seven percent of respondents have both male and female role models. Male role models are seen as innovators and inspirational leaders, known for their confidence and risk-taking. Female role models are perceived as advocates against stereotypes and pioneers in breaking barriers.

Prominent role models

Respondents regard Sheryl Sandberg as a significant global female role model for her advocacy for women's rights in the workplace. In contrast, male role models like Steve Jobs, Elon Musk, and Jeff Bezos are celebrated for their team-building abilities, vision, and world-changing impact.

Ksenia Sternina's statement Ksenia Sternina, Managing Partner at DUAMENTES Global Alliance, stated: "It is crucial to unveil the profound insights gained from the experiences of female entrepreneurs, not merely for sharing but to guide future steps in transforming the role and perception of women in the global landscape."

The study reveals differing perceptions of male and female role models and their influence on confidence levels.

Regional vs. global

Sixty-seven percent of respondents consider having a local role model important when starting a business.

Ekaterina Smirnova, Head of Awards, Startup Program, inDrive, stated: “It is hard to overestimate the significance of role models for women. That is why, in Aurora Tech Award, we aim to discover and share stories of incredible women entrepreneurs in tech in emerging markets. We hope to spotlight more women role models in tech for future generations of girls.”

Local role models, such as family members and teachers, play a crucial role in providing support and mentorship.

Relatability of local role models

About 70% of respondents find local role models more relatable than globally known figures. Local figures like Barbra Mutabazi and Djiba Diallo are highlighted for their community influence.

Challenges in finding role models

12% of individuals lack role models due to reasons like unreliability and inadequate representation. The diversity of local specifics can hinder connecting with certain influencers.

Family influence in entrepreneurship

Family background plays a significant role in shaping perspectives.

Lauren Windebank, founder of Roma Black and Co-founder of TRIBE, UK, shared: "When I started my new business, I had a strong self-belief, accompanied by a hint of naivety and delusion."

Respondents with entrepreneurial family members show more support, while those without tend to have higher optimism and self-confidence.

About the study

The Global Entrepreneur Equality Study, conducted in October–November 2023, involved surveys and interviews with female entrepreneurs from countries including Germany, Brazil, Pakistan, Nigeria, and the USA. Most respondents are under 40 and from small startups, primarily in the Education, Healthcare, and IT sectors. The study supports the Aurora Tech Award, powered by inDrive.

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