Women-led Indian Startup Surges to 18% in Past Five Years
Published On: 07 Nov 2023 Updated On: 07 Nov 2023
India has emerged as the third-largest startup ecosystem globally due to its approachable and welcoming startup environment. The sectors ruling in this field are mostly technology with fintech, edtech, and healthtech leading the way. However, it is not just restricted to these as the ecosystem ranges from operating in various sectors including e-commerce, logistics, and food-tech. According to the recently published ‘Women in India’s Startup Ecosystem Report’ (WISER), women-led startups have risen to 18% of the total, showcasing a remarkable transformation.
Apart from expediting business and creating plenty of job opportunities, startups promote the participation of women in the workforce in India. This shows the significant role the startup ecosystem is playing in India. The report published by the WISER proves the growth of women-led startups to 18% in the past five years.
The report even mentions the possibility that over 2 million new jobs would be provided for women by 2030 with the rising and early success of the startups. The plus of the startup ecosystem is that it is designed in a way to attract female talent more. According to the reports of WISER, they say that startups have proven to be a magnet for some of the most highly skilled and motivated women who are driven by their unrestricted passion for both professional and personal growth. Their motivation resembles those of their male counterparts with a thirst for accelerated advancement, continuous learning, the dynamic pace of the startup environment, innovation, and a sense of ownership over their work.
Regardless of the stage of their career, startups are greatly offering women a unique opportunity to pursue and achieve their personal and professional aspirations. This enthusiasm shared by both the startup environment and the female talent emphasizes or shows the pivotal role in advancing and empowering the women workforce in India. In addition to this, the report specifically highlights that achieving equity and equality in gender in a startup environment is still an ongoing challenge. It is said that despite both a man and a woman starting the startup journey at the same time, women face slower progress compared to their male counterparts in matters regarding job tenure and seniority. The report says, “However, while the overall figures are promising, significant work lies ahead – 10 years into their careers, 8 out of 10 men in startups occupy Director-level positions or higher, compared to only 5 in 10 women.” Comparatively, in corporate settings, women’s representation in sales stands at 19%, and in finance, it is 21%.
Back in 2017, India consisted of around 6,000 startups in the nation, with only 10% of them being led by women. Coming to the year 2022, the startup ecosystem has expanded to 80,000, of which about 18% are women-led startups which is a remarkable thing. Additionally, 17% of India’s unicorns are now led by women. This advancement and transformation in the Indian startup ecosystem mirrors the growing influence and contributions of women entrepreneurs, leading to a more diverse, and overall entrepreneurial landscape in the years to come.
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