This learning brief summarizes lessons learned across two of ANDE's Advancing Women's Empowerment Fund (AWEF) cohorts in Africa and Asia. The eleven AWEF grantees had similar experiences across their different regions and  time periods, most notably in regards to the approaches and programming that are most successful and impactful in reaching women entrepreneurs. This evidence suggests that women entrepreneurs may face similar barriers to investment across varied geographies - and further, the solutions and programmatic adjustments that have found success may be more similar than we think.

This report establishes a baseline understanding of the state of green entrepreneurship in Kenya by assessing existing business models, the available financial and technical support for entrepreneurs, and key sectoral issues regarding the policy landscape and market opportunity. The purpose of the study is to inform decision-makers, such as policymakers, donors, investors, and business development service providers, of the primary trends, opportunities, and challenges in the green entrepreneurial ecosystem in Kenya.

"The gender financing gap persists. Women-led startups raise significantly less capital than startups led by only men. According to PitchBook Data, in 2021, 85.4% of global VC dollars went to startups with only men on the founding team.

That number has hardly budged over the past decade — despite the fact that data continues to suggest that women-led startups outperform startups with all-men founding teams. For example, a BCG study found that women-led companies generate more than twice as much additional revenue per dollar invested (78 cents versus 38 cents) and a PitchBook study found that women-led startups reach their exit stage a full year earlier than all-male-founded startups (median 6.4 years versus 7.4 years).

For investors, focusing on only a fraction of all entrepreneurs means they leave significant opportunities for returns on the table. For startups, this gender financing gap means promising innovations do not receive the resources they need to scale.


That is why Village Capital partnered with IFC, We-Fi, the World Bank, and researchers Amisha Miller and Saurabh Lall to identify and test several concrete ideas for how to help close the gender financing gap. With the support of a research coalition that also includes Visa Foundation, Moody’s, ANDE’s Advancing Women’s
Empowerment Fund, Sasakawa Peace Foundation, and ANDE’s SGB Evidence Fund, we have identified several promising interventions.


Now we are sharing our results, and encouraging investors and accelerators to take action."

Climate change and environmental degradation pose a significant threat to Kenya’s economy. To combat these challenges, Kenya has supported a green economic transition through various government policies and initiatives. Green entrepreneurs play an important role in helping the country reach these climate and environmental targets by meeting consumer needs in a sustainable manner. This report examines the ecosystem of support for green entrepreneurs in Kenya. Using data collected via surveys and desk research, this snapshot report uncovers important challenges and opportunities for green entrepreneurship to inform stakeholders of how to better support the development of Kenya’s green economy.

The damaging effects of climate change in India are all-encompassing, threatening agriculture and food supplies, energy security, water security, and public health. To ameliorate climate and environmental challenges, India has committed to a green economic transition through various government policies and initiatives. India has the the world’s third largest entrepreneurial ecosystem after the United States and China, and an increasing number of sustainability-oriented startups, investors, incubators, and accelerators in India is shaping a vibrant green ecosystem. This report examines the ecosystem of support for green entrepreneurs in India. Using data collected via surveys and desk research, this snapshot report uncovers important challenges and opportunities for green entrepreneurship to inform stakeholders of how to better support the development of India’s green economy.

Climate change and gender inequality are among the world’s most pressing and complex development challenges. Women are catalysts for innovative solutions to tackle climate change. However, their underrepresentation in decision-making processes and labour markets means that women are prevented from fully contributing to climate-related planning, policy-making and implementation. Recently, WUSC joined partners in celebrating the development of a new roadmap for climate finance and marked the culmination of a unique project at the intersection of climate finance and gender implemented by a consortium of partners including ANDE and AKFC and generously funded by Global Affairs Canada. The purpose of the Roadmap is to present recommendations to donors on how to facilitate women climate entrepreneurs’ access to appropriate climate finance, contributing to greater equality and inclusion in sub-Saharan Africa while advancing innovative and transformative women-led climate solutions.

"Social Norms are the rules that govern behavior. Gender norms are social norms defining acceptable and appropriate actions for women and men in a given group or society. They are embedded in formal and informal institutions, nested in the mind, and produced and reproduced through social interaction. They play a role in shaping women and men’s (often unequal) access to resources and freedoms, thus affecting their voice, power and sense of self.

The purpose of this study was to gain quantitative and qualitative information about social and gender norms affecting women entrepreneurs in Vietnam related to childcare responsibilities, who should be the breadwinner and who is upholding these norms. The focus group consisted of growth-oriented entrepreneurs with two or more employees and who have been in business for at least two years."

Social Norms are the rules that govern behavior. Gender norms are social norms defining acceptable and appropriate actions for women and men in a given group or society. They are embedded in formal and informal institutions, nested in the mind, and produced and reproduced through social interaction. They play a role in shaping women and men’s (often unequal) access to resources and freedoms, thus affecting their voice, power and sense of self.

The purpose of this study was to gain quantitative and qualitative information about gender norms faced by women entrepreneurs in Pakistan related to childcare responsibilities and financial decision making and responsibility, which impact a woman’s ability to run and grow her own business. The focus group consisted of growth-oriented entrepreneurs with two or more employees and who have been in business for at least two years.

"Social Norms are the rules that govern behavior. Gender norms are social norms defining acceptable and appropriate actions for women and men in a given group or society. They are embedded in formal and informal institutions, nested in the mind, and produced and reproduced through social interaction. They play a role in shaping women and men’s (often unequal) access to resources and freedoms, thus affecting their voice, power and sense of self.

The purpose of this study was to identify gender barriers, perceptions and factors that limit shared responsibility in the home and which influence the low participation of men in domestic and care work. The study was also conducted to identify, with the participants, intervention strategies that promote behavioral change around shared responsibility. Qualitative interviews covered individual beliefs, family and societal expectations and challenges. The focus group consisted of growth-oriented entrepreneurs with two or more employees and who have been in business for at least two years."

"The topics of gender and entrepreneurship have been of great scholarly interest since the eighties. In this invited editorial, we provide an overview of the evolution of the field of gender and entrepreneurship. Specifically, we consider the evolution of the field by highlighting the importance of context and the need to consider gender in all future research examining’ entrepreneurial activity. Drawing on a contextualized approach we provide an overview of the six articles in this curated special issue with the aim of increasing our understanding of women’s entrepreneurial activity. Finally, we conclude with some suggestions for future research. We hope this invited editorial will spur deeper research at the intersections between gender and entrepreneurship."