Introduction
Following in the footsteps of the United States and China as the second- and third-largest startup hubs in the world is India, which has seen extraordinary growth in its startup ecosystem.
The city of Bengaluru, which serves as the state capital of Karnataka, ranked first on the list of women-led companies. The city is home to 1,783 businesses that are run by women, making it a frontrunner in the movement for gender diversity in business.
The gender gap is still a huge challenge, despite the fact that the startup sector as a whole has been very successful.
The Strength of Bengaluru
According to the data provided by Traxon, Bengaluru is in the lead when it comes to the number of women-led startups with 1,783 businesses, followed by Mumbai with 1,480 and Delhi with 1,195.
The geographic distribution of women business owners in India is illustrated by the fact that the cities of Noida, Kolkata, and Ahmedabad all make important contributions and rank eighth, ninth, and tenth, respectively.
Initiatives taken by the government
Karnataka has been a leader in supporting female business owners by taking a number of innovative actions.
It made history by becoming the first state in India to offer a grant-in-aid in the amount of Rs. 50 lakh to entrepreneurs who were in need of early-stage capital and did so without requiring any equity in return.
This program has given a lot of attention to female business owners, and thirty percent of the people that won were women who started businesses.
The Best Women-Headed Startups
Zomato, Byju’s, OffBusiness, Upstox, Lenskart, and Open are few examples of successful companies that were founded and are headed by women in India.
These businesses have not only built a name for themselves in their respective fields, but they also serve as models for other women who want to start their own businesses.
Challenges Regarding Funding
While the funding environment for women-led businesses is expected to expand from 2014 to 2022, with the number of investment rounds expected to increase from 171 to 460, the image that emerges in 2023 is rather different.
There is an expectation that there will be fewer investment rounds, specifically 185. There has been a significant decrease in the amount of investment provided to women-led firms, with only seven startups obtaining funding this year, compared to 183 in 2014.
This economic slump highlights the persisting difficulties that women confront in gaining access to credit.
Achievements Fit for a Unicorn
The progression of women-led companies in India has been defined by a number of noteworthy accomplishments.
From 2008 to 2018, fourteen unicorn companies run by women emerged. Neobank Open, situated in Bengaluru and recently recognized as the 100th company to be awarded the designation of “unicorn,” is notable for having two female co-founders: COO Mabel Chacko and CFO Dina Jacob.
There is at least one female co-founder in a number of other successful startups, including Nykaa, Mamaearth, Hasura, Pristine Care, OffBusiness, MobiKwik, The Good Glam Group, and Livspace.
