India had surpassed all expectations that are associated with a developing economy when it was renamed as the Land of Startups, by many experts from around the world. Each day some young team of entrepreneurs is raising funds either through private equity or seed funding from a hedge fund.
But if you look a little closer you might see the great divide that causes men to fulfill their dreams of becoming a startup founder, whereas the women are restricted to doing a job that their parents approve of.
It is undebatable that a lot has transformed in this once-upon-a-time patriarchal society, but a lot remains unchanged, at the same time. Women Entrepreneurs is still an unknown subject of discussion in India, and those women who tend to make it happen in a Man’s world, are either from a rich & affluent family background to fund their startups. Only a few ever get to break the stigma of a woman leading an enterprise and making a real difference in a society dominated by the opposite sex.
Since Narendra Modi became the Prime Minister, the country has seen a massive growth in startups, led by both men and women. Now, even the Venture Capitalists are lining up to provide seed funding to womenpreneurs as much as their male counterparts. Yet, there continues to be a surge of home-based female-led startups and businesses in the niches surrounding e-commerce, fashion, apparels, beauty, & education for girls, which remain the primary focus for many.
Modern Startups Initiative In India:
Some of the remarkable developments are also being made by the State Governments in helping the women build a startup friendly environment. The Telangana State Industrial Infrastructure Corporation (TSIIC) & FICCI Ladies Organization (FLO) Hyderabad Chapter had announced in August 2016 to build a Women Entrepreneur’s Industrial Park near the Hyderabad International Airport.
Such a remarkable development is the first of its kind in all of India and will contain women-owned and women-run businesses. The national president of FLO, Vinita Bimbhet says, “India can increase its 2025 targeted GDP from 16 per cent to 60 per cent by enabling women to participate in the economy on par with men. Such parks shall give a tremendous boost for women to set up their own ventures.”
The organization is said to receive investments of nearly Rupees 200 crores and will create employment for 2000 female entrepreneurs, primarily women. But the journey for FLO doesn’t quite end there, once the proposed park is set up, they want to move into other cities of India for a similar establishment.
Taking The Leap Of Startups Further:
Not only that, India’s premier management institute, IIM-Bangalore has joined hands with Goldman Sachs (India) to launch program for women entrepreneurs (Read More). The program is aimed at helping women with no prior entrepreneurial experience or expertise but who contain the zest for a startup and ambitious to learn.
The Women Startup Program is launched as a pilot program made free for all participants, and it will help ambitious women to think, create and give a physical shape to their ventures. The whole project is funded by the Wall Street financial services funding all activities for a year. Some of the notable keynote speakers and trainers of the program include Goldman Sachs (India) chairman Sonjoy Chatterjee as well as Bunty Bohra, chief executive of Goldman Sachs Services (India).
Indian Institute of Management, Bangalore’s NS Raghavan Center for Entrepreneurial Learning (NSRCEL) had started a women-centric entrepreneurial program about 10 years ago, and since 2011 they are accepting only those women to the program who have a prior venture experience.
The entire course structure initiated as a collaborative task with the financial aid from Goldman Sachs is a great help and is set to boom India’s female-led entrepreneurship. What remains to be seen is how the market reacts to the steep rise in women-run businesses in a country that is massively affected by male decisions.
All the hopefuls shall keep their fingers crossed and hope for the best! If you are a woman in India who has a go-getter attitude and have been looking for the right path to channel your inner Entrepreneurial spirit, now is your chance! Find out more right here!