It’s a well-known, well-documented fact that women entrepreneurs face an uphill battle in the fight to get funding for their businesses. But a new study suggests that it can actually be almost impossible. According to the study, published Tuesday in the journal Venture Capital, having even one woman on a company’s team makes them far less likely to get funding than an entirely male one. In fact, an all male team is about four times more likely to get funding than teams with any women on them. The study was done by researchers at Babson College and Wellesley, and looked at data on 6,793 companies funded between 2011 and 2013.
This is the first large-scale study in a decade to focus on women’s efforts to get funding, and it’s not encouraging. The authors write, “We did not determine any significant performance differences between companies with women CEOs from companies with men CEOs, so it is quite surprising that women are still, practically speaking, shut out of the market for venture capital funding, both as CEOs and participants of executive teams.”