A new research study conducted in the United States [1] has revealed that investors prefer fund raising pitches from male entrepreneurs over those from female entrepreneurs, even when the content of the pitches is identical. And, what’s more, attractive men are the most persuasive pitchers of all.

The research team examined video recordings of 90 randomly selected pitches from three real-life entrepreneurial pitch competition, held in various United States locations over a three year period. In each case, a panel of angel investors had judged the pitches and awarded startup capital to the winner. Male entrepreneurs were 60 percent more likely to receive a funding prize than female entrepreneurs. Among those male entrepreneurs, investors deemed attractiveness led to a 36 percent increase in pitch success, But for female entrepreneurs, their looks had no apparent effect on the success of their pitches.

[1] Brooks et. al. (2014) Venture investors prefer funding handsome men. HBS Working Knowledge