From struggles to solutions: understanding the barriers for female healthcare entrepreneurs

Abstract

Purpose – This study examines the gendered barriers faced by female entrepreneurs in the US healthcare sector, especially in securing investment and scaling ventures. Although women are increasingly active in healthcare, they remain underrepresented in leadership due to systemic bias, investor homophily and gendered perceptions of risk and financial competence. Design/methodology/approach – A qualitative approach was used, involving in-depth interviews with 19 female healthcare entrepreneurs seeking external funding. Thematic analysis identified common challenges and strategies used to navigate financing barriers. Findings – Women face heightened investor skepticism, prevention-focused questioning, and limited access to follow-on funding. Capital is often allocated based on perceived potential – favoring men – while women must show proven results. Many avoid external funding, preferring bootstrapping to maintain control and avoid bias. While networking and confidence-building help, deeper structural changes in how investments are evaluated are needed. Research limitations/implications – Findings are based on a small, non-random sample. Future research should use larger, more representative data and mixed methods to explore how these dynamics unfold across sectors. Further study should examine how intersecting identities like race and class influence women’s access to entrepreneurial capital. Originality/value – This study adds to gender and management research by focusing on the financial hurdles specific to women in healthcare entrepreneurship – a sector with high female participation but low leadership and investment equity. It also highlights the roles of imposter syndrome and internalized perceptions of competence in shaping women's funding decisions.