Amid the global surge in the startup ecosystem, India stands out as a burgeoning economic force, witnessing an unparalleled boom in the sector. The country is currently in the throes of a transformative era, and in this evolution, women entrepreneurs are playing a pivotal role in reshaping the narrative.
India’s startup ecosystem, the third largest in the world, is experiencing unprecedented growth, and women entrepreneurs are at the forefront of this revolution. Overcoming barriers, challenging stereotypes, and capitalising on opportunities, these women are not only navigating the entrepreneurial landscape but also instigating profound changes.
Their unwavering spirit, resilience, and groundbreaking initiatives are steering the startup system toward a new frontier of inclusivity.
THE RISE OF EQUALITY
According to the recent Women in India’s Startup Ecosystem Report or WISER, women-led startups have risen to 18 per cent in India in the past five years.
In 2017, India had around 6,000 startups, with a mere 10% being spearheaded by female founders. Fast-forward to 2022, the startup landscape underwent a staggering expansion, reaching 80,000, with the proportion of women-led startups experiencing a significant surge.
According to another study, by Global Entrepreneurship Monitor, India’s female entrepreneurship has surged by 50% since 2014, driven by increased educated women, capital-raising opportunities, and government policies, largely due to increased understanding and acceptance of women’s business potential.
WOMEN ENTREPRENEURSHIP AND ITS IMPACT ON THE ECONOMY
Recent years have seen women entrepreneurs like Falguni Nayar and Kiran Mazumdar Shaw significantly contribute to the startup ecosystem, highlighting the immense potential and opportunities available for women.
Amongst the many transformations brought about by women entrepreneurs, the major ones are:
Economic growth
In an era dominated by high-end competition and a fluctuating economic scenario on the global front, women entrepreneurs are creating new job opportunities through their ventures by employing 27 million individuals in the country.
According to a recent study by Bain and Co, there are 15.7 million women-run enterprises in India, and they represent 22 per cent of the overall pie in the country. With proactive measures from the government and other entities to bolster support for women in business in the upcoming years, there exists the possibility of elevating this number to 30 million.
Catalyst for innovation and diversity
Women are reservoirs of talent that can drive innovation by introducing fresh perspectives and problem-solving approaches, fostering a dynamic and diverse business environment. Teams, led by women, are highly adept at creating innovative solutions.
More inclusive workspaces
Women entrepreneurs are also willing to engage in networking and providing mentorship for emerging women leaders. This has led to the formation of more inclusive communities and environments that embrace women in entrepreneurship.
Courtesy : IndiaToday