Women Founders Need More Support to Break Through the Glass Ceiling, Experts

Musharrat Shahin Jul 28, 2023

Women founders are driving innovation in all sectors, from technology to healthcare to finance. They are bringing new ideas and perspectives to the table, and they are changing the way we think about business.

Hinshara Habeeb, Co-founder of Manetain Store, said, "From being ashamed of having curls to owning them entirely made a big shift in my life. This change motivated me to launch a curly hair care products company and build an empowering business journey. I wish more and more women would become part of the startup ecosystem."

The male dominance that exists in the startup ecosystem has always been a critical issue of concern. "Society has made it difficult for women to make decisions. However, changes are happening at a higher level," highlights Gunjan Taneja, Founder and Head of Marketing and Product at UClean.

Women have always been victims of the stereotype that comes along with the process of handling work and life. "However, change is taking its time, and women will perform better. There is no such thing as balancing things out. Rather, set your priorities first and work accordingly," says Smita Roy, Founder, and Managing Trustee of Peepal Tree Foundation.

Companies may boast about the participation of women in startups, but the work done is not very impressive. According to Tie Delhi-NCR report, "Creating 10X Women Founders in India," India has a thriving startup ecosystem with 28,000 active digital startups. However, only 18 per cent of them have female founders or co-founders.

Anshu Parmar, COO of Erisha E Mobility, explains that the stereotype that women are not good at decision-making discourages investors from investing or providing funds. She emphasized the support of her family, which made her stronger in making her own decisions.

The panel discussion was taking place at the BW Businessworld's Women Entrepreneur Summit and Awards (WESA) 2023.

Despite the active discussion around women's participation in the startup ecosystem in India, the figures are not impressive. According to reports, in 2022, only 18 per cent of startups had at least one female founder, and only 3 per cent were founded by all-female teams. This is a far cry from the global average of 28 per cent of startups with at least one female founder. There are several factors that contribute to this gender gap, including lack of access to capital, mentorship, and networking opportunities.