In recent years, we have seen a significant increase in the number of women entrepreneurs in India. According to a NASSCOM report, the percentage of women-led start-ups in India increased from 8 percent in 2014 to 13 percent in 2019.
In addition, according to the IBEF, some compelling reasons to invest in companies run by women are the greater potential for profitability and the greater appetite for risk. According to a KPMG survey, 43 percent of women are willing to take more risks.
We have contacted entrepreneurs and investors to find out what they expect for the coming year. These are the key-takeaways.
Shauraya Bhutani, Co-Founder of Capital Connect Advisors and Founder and Partner of Breathe Capital
Other things being equal, founder-led startups have a demonstrable competitive advantage. It's no longer just a personal debate, as several evidence-based studies show it: In a BCG study of 350 startups, women-founded businesses generated higher returns, more than double for every dollar invested, than those founded by women. by men. These startups also have a more inclusive work culture and employ 3 times as many women compared to male-led startups.
Savvy VC firms are taking the data into account and looking to not only support more foundations, but also increase the representation of women on their teams; this will ultimately lead to more women entrepreneurs in India raising money in 2023 and beyond.
Closer to home: India has seen most female-led startups become unicorns in 2021. Additionally, the Indian government has increased the budget for women and children development by 14 percent in 2021, allocating more than Rs. Rs 30,000 crore in FY21, a portion of which we hope will enable women to start their entrepreneurial journey.
This radical transformation underscores the potential and determination of Indian women. In the coming decades, India is poised to undergo a great transformation, with women dominating the workforce and shaping and improving the future of the country. It is estimated that more than 30 million other women-owned businesses will create between 150 and 170 million jobs by 2030. This might transform everything and make the economy's future more promising than ever.
Divya Gokulnath, Co-founder of BYJU'S
I have always believed that entrepreneurs should be defined by the courage of their conviction, not by gender. We can only build an equitable future when we remove the prefixes of men and women and focus on building leaders. Having said that, 2022 was a landmark year. In Droupadi Murmu, we observed a continued surge of women breaking down barriers on all fronts. The election of India's first indigenous woman president, the success of Falguni Nayak-led Nykaa's IPO, the appointment of Madhabi Buch as the first female chairwoman of SEBI, and Savita Punia and Co. winning the FIH Hockey Women's Nations Cup in Spain could not have been a better way to conclude 2022. These role models have transcended multiple layers of generational prejudices to inspire optimism in the future.
In 2023, I look forward to more of these decisive victories for women around the world.
I imagine women waiting not to have a seat at the table but to build their own tables, for the world to take off its tinted windows and for each of us to make incremental changes that will last for decades. I see women entrepreneurs harnessing technology to accelerate their personal development and push the boundaries of what they think is possible.
This year, we can expect more representation not just on paper but in tangible, impact-generating spaces. As investors and policymakers pave the way for more women to take up entrepreneurship, the future of women-led businesses is about to be disruptive.
While macroeconomic challenges and winter funding may hamper the ecosystem, it is the inherent conviction, passion, and resilient spirit of our entrepreneurs that will help us emerge stronger on the other side.
Aakanksha Bhargava, CEO, PM Relocations Pvt Ltd
The Indian economy has been hailed as one of the fastest growing economies in the world in recent years. This increase in economic activity is the result of the work of many talented businessmen and entrepreneurs. Women entrepreneurs and entrepreneurs have also greatly helped the rise of the Indian economy.
By showcasing the empowerment of women in all industries, including technology, sports, lifestyle, entertainment, and business, we challenge everyday biases. Women who are determined to prove themselves to the world will have many opportunities in 2023. The number of women entrepreneurs in India has increased, which has had a good impact on the socio-economic demographics of India. Women entrepreneurs need to focus on acquiring the essential skills and abilities that allow them to fully realize their scarcity and spread the word about their remarkable impact.
Priyanka Kanwar, Co-founder of Falcon
2023 will be a year of great challenges and rewards for women entrepreneurs in India. The current economic reset presents a unique opportunity for leading women in the technology industry to evaluate their strategies and prioritize sound business practices and innovative ideas over “growth at all costs” expansion. It will be those startups dealing with real problems that will see the most growth, as the marketplace becomes more differentiated and we see less chaos and more meaningful progress.
Madhumita Agrawal, Co-Founder and CEO, Oben Electric
We are currently in a very exciting phase in the country as we design, build and deliver products and services in India and the rest of the world. What's even more interesting to note is that at the forefront are women who are seemingly strong as entrepreneurs who are building multi-million-dollar businesses, taking risks and increasing investments despite dire constraints.
In 2023, I strongly believe that these women will inspire more women to walk this path and take entrepreneurship and business to a whole new level.
Shaili Chopra, founder of Gytree.com and SheThePeople.TV
To be successful, women entrepreneurs in India must solve real-world problems. The way I see it, 2023 will see a change in women's health led by platforms that work to meet their greatest needs, from menstruation to menopause. And this will happen not only by offering products and services, but by taking a different approach, holding hands, building trust and personal care. In our next world, it will be easy to build technology-driven platforms, but the hardest parts will be growing customer communities.
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