Entrepreneurship – a Man’s Domain?
According to the Mastercard Entrepreneurial Index, only 7 out of 100 Indian entrepreneurs are women. However, these pioneers are not only equal to their male counterparts, but they often outperform them when it comes to new ideas and methods for implementing their ideas.
In India, the number of businesses run by women will grow by 90% over the next five years, according to the “Landscape Study on Women Entrepreneurship” study. According to a study conducted by Bain & Company and Google, Indian women entrepreneurs might produce between 150 and 170 million new employment by 2030. But a top Google manager says that only 1.5% of start-up funding in India goes to companies with women as founders right now.
Women and the Start-up Scene
So far, female entrepreneurs have been significantly underrepresented in the Indian start-up scene: less than 5% of Unicorns (companies worth more than 1 billion Euros) were founded or co-founded by women.
However, the trend is beginning to reverse and in recent years more and more women entrepreneurs have entered the start-up sector. According to statistics from the Indian government, the share of female entrepreneurs in 2019 has increased from 10 percent and 11 percent to 14 percent compared to the two previous years.
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An industry report shows that the number of women entrepreneurs in technology start-ups is almost eleven times higher since 2010. Many female entrepreneurs are working in the fields of Fintech and consumer technology. It is interesting to see how women are now leading in unusual and previously male-dominated industries such as the automotive industry, Cleantech, SaaS and online gambling.
Although the number of women-led start-ups is steadily increasing, there is still a large gender gap in the volume of investment. According to the report, only 22% of investors invested in start-ups with at least one founding woman between January 2018 and June 2020.
Women’s empowerment benefits families, communities, and nations. There is still a long way to go before women entrepreneurs in India are fully recognised. Empowering women benefits families, communities, and nations. Women entrepreneurs in India still have a long way to go before they are entirely equated with their male counterparts. But we can already see changes in the right direction.
