This International Women’s Day, the Indian startup scene is buzzing with a theme of its own: women on the rise! We’re witnessing a surge in women-led startups, bringing fresh ideas and innovation to the table.
This International Women’s Day, we celebrate the theme “Invest in Women: Accelerate Progress.” While advancements have been made, one crucial area demanding investment and progress is women’s access to startup funding. Despite their immense potential, women-led startups often face an uphill battle when it comes to securing capital.
Let’s explore this exciting trend and celebrate the growing power of women entrepreneurs in India’s dynamic startup ecosystem.
Embrace Challenges
Aparna Acharekar, co-founder of Coto, said, “Women empowerment is a key strategy for India’s long-term economic prosperity. The startup ecosystem is taking cognisance of these concerns and witnessing a rise in women’s entrepreneurship, opening doors for more women in leadership roles. With the same mission, we launched Coto, a social community app, built for women, by women. My advice to all aspiring women entrepreneurs would be to embrace the challenges and not shy away from putting forth your vision.”
Rashi Agarwal, co-founder & CBO, Zypp Electric, said, “As a co-founder of a tech-enabled EV-as-a-service platform and a woman deeply invested in fostering diversity and inclusivity in STEM, I am committed to inspiring the next generation of women leaders in these fields. The recent statistics shared in the Interim Budget of 2024 are not just numbers; they represent a profound shift in our societal mindset.”
Agarwal added that the fact that thirty crore Mudra Yojana loans have been extended to women entrepreneurs underscores a growing recognition of their potential and capability. Furthermore, the significant increase in female enrolment in higher education, particularly in STEM courses, is a testament to the relentless pursuit of knowledge and opportunity by women across the nation.
Male-Dominated Industry
Jyoti Bhandari, founder and CEO, Lovak Capital, said, “Ever since I started working two decades ago in the male-dominated broking industry, we have come a long way. Where I was the only female in the regional sales team and was often asked to step out as they were not used to having women around. But, I never left any meeting and led a few myself eventually. Today. I run my own broking and wealth business. I am a sole Founder and the business is profitable and fast growing over the past 5 years.”
Challenges
Bhandari said the biggest challenge is our own limiting beliefs and secondly, the biases of both conscious and unconscious and socio-cultural norms. Resistance to change was not done in the past when women were not seen in the board rooms.
“Investor’s questions like is your husband part of your business? Are you doing this alone or do you have a partner? How do you maintain your work-life balance? Your poor kid! Most often, I have been asked – Does your husband allow you to do business? (lol). No man is asked these questions. This mindset on the other side of the table gives us Limited access to Capital and opportunities. This is the reflection that the board rooms are still doubting our capabilities,” Bhandari added.
Bhandari added that women are succeeding with their compassionate leadership. When you have a start-up, you are an entrepreneur, not a man or a woman. Entrepreneurship has no gender bias. You will have to grab a seat at the table on your own. It will be great to see more women in boardrooms leading the way.
Women & Multitasking
Arpitha Saineni, co-founder & head customer success team, SatNav Technologies, said, “For women, working in a growing organisation is very challenging as one has to don multiple hats at the same time or play different roles at different times as per business need. Due to a lean organisational structure, it’s not always possible to have a backup resource for every person who needs to be away from work.”
Saineni added that the solution is to be adept at multitasking and to be able to remotely manage emergencies as and when they occur.
“The exposure we get while doing the above gives invaluable experience and satisfaction at making a direct impact on the area being worked upon, not something which would be possible in larger organisations,” Saineni said.
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