Women pursuing revolutionary business ventures are less likely to be funded because of investors' unconscious bias against female entrepreneurs, according to a study by Northeastern University researchers that included an examination of Shark Tank episodes.
Novelty is vital to entrepreneurship. However, it becomes an invisible liability for women who face the “double bind” effect, the study said.
The “Gender Liability of Venture Novelty,” co-authored by Northeastern professorZhenyu Liao, published these findings in the Academy of Management Journal.
Liao's findings are based on the results of three studies, including an archival examination of Shark Tank—ABC's popular TV show where entrepreneurs pitch their products and ideas—coupled with online and field experiments.