Wednesday March 5, 2014 0 commentsDENVER - Galvanize, the technology co-working center and startup incubator in downtown Denver, is among 40 technology hubs around the world to share in a $1 million grant from Google Inc. to help increase the number of female entrepreneurs by 25 percent.
Galvanize is one of 10 such tech hubs in the U.S. to receive Google funding and the only one in Colorado.
Google noted that female-led startups receive roughly 4 percent of venture capital even though their ROI is better than male-led startups.
"Women-led tech companies achieve 35 percent higher return on investment and, when venture-backed, bring in 12 percent more revenue than male-owned tech companies," Google said.
"Yet women are underrepresented in startup communities. We think there are substantive ways to be more inclusive."
Galvanize is one of seven Google Tech Hubs named last year to receive the Google funding.