Index of Women Entrepreneurs 2019, India ranked 52 out of the 57 surveyed countries. Women’s representation stays low even in the states that were top performers in terms of state-wise distribution of recognized startups
The Startup system in India, Stand-up India initiative has failed to tempt in women entrepreneurs.
Only 43% of the 27,084 operational startups in India had a female director as of 8 January, according to the Economic Survey 2019-20.
Women’s representation stays low even in the states that were top performers in terms of state-wise distribution of recognized startups—Delhi, Maharashtra and Karnataka.
Moreover in the Index of Women Entrepreneurs 2019, India ranked 52 out of the 57 surveyed countries.
Furthermore according to Innoven Capital, a venture debt and lending platform, the number of funded startups with at least one female co-founder declined from 17% in 2018 to 12% in 2019.
Ranjana Kumari, director, Centre for Social Research stated that women have no risk covering possibility financially, besides lack of credit support. She said that there is a lack of institutional support system for first timers so even at tiniest hurdles they give up. Overall, in a demotivating environment one needs to get the love and support of families.
Moving ahead as per industry-wise distribution of recognized startups, IT services accounted for 13.9% followed by healthcare and life sciences (8.3%) and education (7.0%), shows the economic survey.
Savitha Kuttan, CEO, Omnicuris, a health-tech startup stated that women make up for 70% of the world wide health workforce and are the primary caretakers for the elderly and children.
Contradictory to their clear dominance in healthcare, investor interest in health startups by women continues to remain scarce.
Whereas Startup India has helped budding entrepreneurs communicate with industry leaders, formulate and execute business plans there is a need to concentrate on promoting women entrepreneurs in the science and healthcare sector.
The government claims that though startups drive economic growth, create employment and foster a culture of innovation, it did not support women excelling into businesses.
Moreover female are missing in the Startup India initiative because many women, who start their initiatives, are not illuminated or mentored professionally.
Also when it comes to funding, women are not only scrutinized about how they had manage their businesses, which isn’t the case for men. Therefore women need to break these barriers to raise capital and grow their businesses.