In 2020, Americans filed more than 4.2 million applications for startup businesses — a 24% increase from the previous year and the largest number of applicants over the past 15 years, according to U.S. Census figures.
Many startups were launched by women — who were 1.8 times as likely as men to be laid off during the pandemic. Despite the uptick in female-led companies over the past two years, women continue to face a key challenge in building a strong foundation for business growth: access to venture capital.