How Female Entrepreneurs Are Using Technology To Solve Real-World Problems

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The state of entrepreneurship in the U.S. is strong, especially for women. Over the last few years, women have opened businesses at nearly twice the rate of men and represent 39.1% of small business owners, according to the 2024 Wells Fargo Impact of Women-Owned Business Report. As part of this growth, women are venturing into more industries, including financial, real estate, and technical services.

Across industries, female entrepreneurs are harnessing the power of technology to create solutions to real-world problems that drive lasting change. Women’s unique viewpoints and experiences are leading to the development of innovative business models and brands that will fundamentally shape their industries.

The Rise Of Women In Tech

The tech industry has seen growth in female leaders, with experts estimating that women represent 33% of the tech workforce, according to research from Deloitte. Yet, women don’t need to be classified as working in “tech” to realize the benefits of technology when starting their own businesses. Women are also making significant strides in the broader tech industry, developing innovative products and services that enhance various aspects of daily life. By focusing on user-centered design, they are creating solutions that improve quality of life and drive economic growth.

“Tech has opened up so many opportunities for entrepreneurs looking to solve problems that they see happening among their community, including with their friends, family members, and peer groups,” says Paula Panagouleas Miller, founder of the app Karmascore, which helps people measure key aspects of their personal and professional relationships. “For my business, I saw a need for people to find ways to measure their relationships and to use that information to improve them. This wouldn’t be possible without technological tools to generate, analyze, and summarize data.”

The Power Of Data In Problem Solving

Data is a powerful tool in business, and it’s one element that can be enhanced thanks to technology. “I’ve found that documentation is vital for our users, as it allows them to track the ins and outs of their relationships. This allows people to take stock of their interpersonal interactions and make better decisions about who to prioritize their time with,” says Miller. Such documentation and tracking would not be possible without advanced technology.

Improving access to key data points will lead to additional applications as more entrepreneurs find ways to use data for practical purposes. “Because there’s only going to be more data in the future, there will just be more and more applications everywhere,” says Professor Mark N. Broadie from Columbia Business School. These applications can cross industries and help people in every aspect of their personal and professional lives.

Overcoming Challenges

While female entrepreneurs are making remarkable contributions across various sectors, they often face significant challenges. “Technology can help break barriers women face, including accessing funding, facing gender bias, and experiencing limited representation in industry,” says Miller. “For many businesses and applications, tech breaks down some of those barriers by increasing accessibility and helping entrepreneurs do more with fewer resources.”

“We also need people, organizations and businesses to be proactive in making space for women, to provide opportunities and give them the support that they need to be successful,” explains Karima Green. Organizations like Women Who Tech, SheEO, and Female Founders Alliance provide resources, mentorship, and funding opportunities to female entrepreneurs, helping them navigate the complexities of the tech industry and scale their businesses.

The Impact Of Women Using Tech In Entrepreneurship

The impact of female entrepreneurs using technology extends beyond their individual ventures. “Women entrepreneurs who use tech are addressing real-world problems people in their communities and around the world face every day in unique and innovative ways. Moreover, their success serves as an inspiration for future generations of women, encouraging more young girls to pursue careers in technology and entrepreneurship. As the tech industry becomes more inclusive and diverse, the potential for groundbreaking innovations and positive change will only continue to grow,” says Miller.

Through their ingenuity, resilience, and commitment to making a difference, women are advancing their respective fields and contributing to a more equitable and sustainable future. Supporting and celebrating these trailblazers can create an environment where innovation thrives and real-world problems find effective, tech-driven solutions.

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Copyright for syndicated content belongs to the linked Source : Forbes – https://www.forbes.com/sites/jiawertz/2024/07/13/how-female-entrepreneurs-are-using-technology-to-solve-real-world-problems