GENDEX survey: building a pilot Gender and Diversity Index for Europe

The GENDEX project, supported under the European Innovation Council scope of Horizon Europe, has opened a survey aimed at gathering information on how gender and diversity affect the fundraising journeys of start-up and scale-up founders and cofounders. The initiative is framed as a pilot to create the first consolidated Gender and Diversity Index covering a broad set of indicators across all EU Member States and the United Kingdom. The project team is asking EIC beneficiaries and other stakeholders to take part and complete the survey by 13 September 2024.

What GENDEX aims to do

GENDEX sets out to close persistent data gaps about gender and diversity in the European innovation ecosystem. Project organisers say existing information is fragmented and lacks a common framework for assessment. The stated objective is to produce a Pilot Innovation Gender and Diversity Index that provides consistent, comparable information for startups, scaleups, corporates, the EIC, other investors, funding bodies, market actors and policy makers across Europe. Improving visibility of diverse talent, and female talent in particular, is presented as a core aim to increase access to funding and opportunities for underrepresented founders.

Who is running GENDEX and how it is funded

GENDEX is described as funded under Horizon Europe and operating within the EIC actions that focus on innovation ecosystem development. The consortium communications name technology research firm IDC alongside specialist partners. Different project messages reference BluSpecs and Founderland as collaborators. A separate passage lists IDC, European Women in VC and BluSpecs as part of the consortium. The materials highlight the partners' networks and their prior work on gender and diversity in venture and innovation.

Validation and methodology notes

GENDEX intends to run a two phase validation process with an experts group composed of at least 18 senior leaders. The project documentation does not yet publish detailed methodology or indicator definitions in the public announcement. The validation step is presented as a way to refine indicators and ensure the index meets stakeholder needs across research, investment and policy audiences.

Why an index matters and how it could be used

A consolidated Gender and Diversity Index could help standardise how ecosystem actors measure representation and track progress over time. Potential users include the EIC portfolio managers, venture investors, corporate innovation units, regional authorities and researchers. Better data can inform targeted interventions, funding allocation and talent scouting. For investors the index could provide comparative signals about access to female and diverse founders across countries and sectors.

Limitations and risks to watch for

Several caveats deserve attention. First, the GENDEX effort is a pilot and will face the familiar practical challenge of harmonising data that vary by country and by organisation. Definitions of diversity and the quality of source data vary widely. Second, the reliance on survey inputs and self reporting can introduce bias and gaps in coverage. Third, publishing an index does not by itself change investor behaviour. The index will need continuous maintenance, transparent methodology and commitments from data providers to be useful over time. Finally, communications from the project show inconsistent details on survey length and on named partners which points to a need for clearer public documentation ahead of final outputs.

Recommendations for GENDEX to improve impact

To maximise the index's utility and credibility the project should publish full methodology and indicator definitions, document data sources and known limitations, and apply intersectional measures that capture overlapping axes of underrepresentation. The index will be more useful if its outputs are open or available in anonymised aggregated form, if there are tools for longitudinal tracking, and if the consortium sets out how investors and the EIC will integrate findings into selection criteria or support programmes. Engaging a geographically and sectorally diverse set of contributors during validation will reduce the risk of blind spots.

How to take part and privacy assurances

The GENDEX survey targets founders, cofounders and EIC beneficiaries within the innovation ecosystem. The project states that responses are confidential, will not be associated with individual respondents or organisations and will be analysed only in aggregate. Prospective respondents should note the stated completion time varies between 8 to 15 minutes depending on the communication. Interested parties are encouraged to complete the survey before the 13 September 2024 deadline.

The announcement also invites readers to subscribe to the EIC Business Acceleration Services Newsletter to receive updates on calls, stories and partner opportunities. The project materials carry a standard disclaimer that the information is provided for knowledge sharing and should not be interpreted as the official view of the European Commission or other organisations.