Women in Start-Ups - A Long Way To Go

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Startup Industry is at its peak right now in India and the world. In recent years, India has emerged as a hub for startups, with a thriving ecosystem of entrepreneurs, investors, and support organizations. According to a report by Nasscom and Zinnov, India is home to over 50,000 startups, and the country is poised to become the world's third-largest startup ecosystem by 2025.

Women have historically been underrepresented in the startup world, with just a tiny fraction of venture capital funding going to female-led businesses. Despite an increase in unicorns and startup founders, women founders are still a very minute part of the pie and receive very less funding compared to their male counterparts. According to Pam Kostka, CEO of All Raise, in 2019, only a meagre 12% of U.S. venture capital funding was directed towards female-led startups, despite two years of record-breaking investments worth over $130 billion by U.S. venture capitalists. With the current economic recession, women entrepreneurs were facing an even greater setback, as funding for female-founded companies has hit a new low. The lack of funding for female-led startups is a cause for concern and highlights the persistent issue of gender imbalance in the startup world. 

According to a recent report by Inc42, 43% of the 15 unicorns with female founders in India are in the e-commerce industry. Delhi-NCR leads the way with seven such unicorns, followed by Bengaluru with five, and Mumbai with three. Last year, Falguni Nayar, the founder of Nykaa, made history as the first Indian woman to take a startup public and became the wealthiest self-made woman entrepreneur in the country. Ashneer Grover at E-Cell Summit at IIT Bombay pointed out that the investors typically are wary of investing in women le startups especially the ones weith solo female founders due to the preconceived notons about women having responsibiities towards their child and family and pregnancy issues and they barely judge a female founder on the basis of merit. Startup 

An analysis revealed that a mere 12% of individuals making decisions at venture capital firms are women, and many firms still do not have a single female partner. Out of all partners at these firms, a mere 2.4% are female founding partners, who hold a significant amount of control over the investment decisions made by the firm. These statistics highlight the ongoing gender imbalance in the venture capital industry. Founders of companies like Nykaa, The Good Glamm Group, Mobikwik, Leap Club, Zivame, Limeroad, Radha Vembu have been able to excel in this cutthroat startup world. 

Despite these challenges, there are few organizations and initiatives working to support women in the startup world. These organizations provide women with access to capital, mentorship, and other resources, and help to create a supportive network of like-minded entrepreneurs. Some of the most notable initiatives include Girls in Tech, Women Who Code, and SheEO, which are all dedicated to empowering women in technology and entrepreneurship. In conclusion, women have a critical role to play in the startup world, and there is a growing movement to support and empower female entrepreneurs. By overcoming the challenges of access to capital, representation and visibility, women can help to build a more diverse and inclusive startup ecosystem that drives innovation and contributes to the growth and success of businesses.

Written by: Mayankita Singh

Illustration by: Saanvie Verma

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