Women startup founders face capital, gender barriers

By Beatriz Marie D. Cruz, Reporter

WOMEN-LED startups in the Philippines continue to face systemic barriers to growth — from limited access to funding to persistent gender bias — despite their growing influence in the country’s innovation economy, industry representatives said.

“Filipina founders and leaders are not short on ideas or grit,” Celina Francia R. Durante, head of communications at Kickstart Ventures, said in an e-mailed reply to questions. “What needs to improve are the pathways — access to investors, mentors and networks that turn their vision into reality.”

A 2025 DealStreetAsia report found that all-women founding teams in Southeast Asia raised just $94.5 million in equity funding, equivalent to only 2.1% of the region’s total — a stark reflection of how female entrepreneurs remain underfunded.

In the Philippines, women founders have made strides in industries like financial technology, health technology, sustainability and education, and many also serve as investors and mentors themselves.

Some of the country’s most successful startups are female-led: Globe Fintech Innovations, Inc. (Mynt), the operator of GCash, is headed by Chief Executive Officer (CEO) Martha Sazon, while parenting platform Edamama was co-founded by Bela Gupta D’Souza, and HR technology firm Sprout Solutions by Alex Gentry.

However, beyond these success stories, most female founders struggle with limited financing and mentorship opportunities. Niña L. Terol, co-founder and CEO at FoundHer, a platform for Filipina-led startups, said many women face a “gender capital gap.”

“There are many factors for the gender capital gap, but one big reason is the privilege gap that exists between the ‘tech bros’ and women — whether startup founders or operators — who do not come from privileged backgrounds and who lack the network to open doors for them in the tech world,” she said in a Facebook Messenger chat.

She added that women-led startups are often missing from data tracking and investment studies, making it harder for institutions to understand and support their needs.

Jessica de Mesa Lim, founder and CEO at health startup Kindred Health, Inc., said gender bias remains a quiet but persistent force that shapes how women are perceived in boardrooms and investor meetings.

“Gender bias, whether subtle or overt, still influences how women are perceived in boardrooms and investor pitches,” she said in an e-mailed reply to questions.

To close these gaps, Ms. Durante said startups should diversify their leadership teams to reflect the markets they serve, while government and private institutions can integrate gender inclusion in policies and mentorship programs.

“When women have equal access to capital, mentorship and opportunity, it doesn’t just serve them as founders or leaders,” she said. “It also elevates the entire startup ecosystem to its potential.”