Executive Summary

Date	2025
Author	Svetlana Vylkova, Cathy Li, Alessandra Doyle, Olivia Hopp,
Client	RVO
Supervisors	Dr. Mariëlle Feenstra

Summary

Female entrepreneurs in the energy sector contribute to an inclusive energy transition for all with their representation of the diversity of energy consumers and their reflection of equal opportunities for all to participate in a just energy transition. Female entrepreneurs may identify more closely with the diversity of energy consumers.

With women representing at least 50% of the energy consumers, having their voices heard and their needs reflected in energy projects is crucial for a broader adaptation of new energy technology.
However, female founders remain significantly underrepresented in the Dutch energy transition sector, with their limited visibility prompting critical questions about their access to funding, the types of capital available to them, and the structural barriers they face throughout their entrepreneurial journeys.

This report analyzes the funding landscape for entrepreneurs in the Netherlands’ energy sector, focusing on the perspectives of female founders, funders and intermediaries (defined as organizations and communities that connect the two). Drawing on secondary data from RVO, the Shell Impact Fund, and public databasessuch as Crunchbase, the study employs rigorous data analysis to uncover the persistent funding gap for female founders.

The findings reveal that women in the sector continue to face systemic obstacles, including gendered societal expectations, a lack of visible role models and limited representation among funders. These barriers are further reinforced by the absence of gender-disaggregated data, which hampers the development of inclusive policies for the energy transition.
The report highlights that merely 14% of Dutch VC investment and grants go to female founders, with an underrepresentation of women entrepreneurs at later financing stages. Intermediaries play a crucial role in advocacy, research, and funding; however, their support for female founders in the energy sector remains insufficient.

Key recommendations

• Female founders: invest in sector-specific expertise, lead in pitches, presentations, and public engagements, and actively network
• For investment funds: increase female investors, set up more funds and programs for female founders, offer post-investment support and develop financial tools and impact funds
• For intermediaries: create integrated support to women entrepreneurs in the energy sector, provide gender-disaggregated data for inclusive policies and actively increase representation of women in energy and finance

The report proceeds with providing an implementation plan of tangible actions that aim to foster a more inclusive and equitable energy transition in the Netherlands.