Women entrepreneurs are shining examples of innovation and resilience, revolutionizing industries and breaking barriers with their visionary leadership. Their ventures go beyond mere businesses; they are compelling stories of determination, creativity, and empowerment, inspiring countless others to dream big and achieve greatness.
With a vision to promote the sustainable development of women entrepreneurs for balanced growth in the country, Startup India is dedicated to strengthening women entrepreneurship through various initiatives, schemes, and the creation of enabling networks and communities. By activating partnerships among diverse stakeholders in the startup ecosystem, Startup India aims to foster a supportive environment for women entrepreneurs. Since its launch in 2016, the Startup India Initiative, driven by the Department for Promotion of Industry and Internal Trade (DPIIT), has been a game-changer in fostering entrepreneurship in India.
As of October 31, 2024, a remarkable 73,151 startups with at least one-woman director have been recognized under the Startup India Initiative. This impressive figure represents nearly half of the 1,52,139 startups supported by the government, highlighting the crucial role women play in driving innovation and economic growth in India.
Financial Support and Inclusion
The government has implemented several flagship schemes to promote women-led startups:
- Investments by Selected AIFs: ₹3,107.11 crore has been invested in 149 women-led startups through Alternative Investment Funds (AIFs).
- Startup India Seed Fund Scheme (SISFS): Since its inception in April 2021, this scheme has approved ₹227.12 crore in funding for 1,278 women-led startups.
- Credit Guarantee Scheme for Startups (CGSS): Operational since April 2023, CGSS has guaranteed ₹24.6 crore in loans for women-led ventures.
Capacity Building and Awareness
The Government of India has implemented comprehensive measures to empower women entrepreneurs and strengthen the ecosystem for women-led startups. Here are the key steps:
Dedicated Financial Support:
- 10% Allocation for Women-Led Startups: Reserved under the Fund of Funds for Startups (FFS), managed by SIDBI.
- Higher Management Fee for Women-Led AIFs: Alternative Investment Funds (AIFs) led by women are eligible for a higher level of management fee (0.1% p.a.).
Capacity Building Programs:
- Women Capacity Development Program (WING): WING workshops create a conducive environment to share best practices and experiences in overcoming challenges and to gain insights from business models adopted in the Indian context.
- Virtual Incubation for Women Entrepreneurs: In collaboration with Zone Startups, this initiative provides pro-bono acceleration support to tech startups.
Awareness and Accessibility:
- Startup India Hub: A dedicated webpage on the Startup India portal shares central and state policy measures for women entrepreneurs.
- SuperStree Podcast: A series highlighting innovations by women entrepreneurs to inspire and strengthen the entrepreneurial ecosystem.
- State Workshops for Women: Focused on government schemes, mock pitching, and finance-related training.
Recognition and Visibility:
- National Startup Awards: NSA recognizes and promotes startups across 20 sectors and special categories. All four editions of the NSA (2020, 2021, 2022, and 2023) have featured a special category and award for women-led startups.
- President’s Interaction with Women Entrepreneurs: A platform to honor and promote women’s role in driving innovation and job creation.
Regional Empowerment:
- ASCEND Workshops: Targeting entrepreneurs from the North-East, with a special focus on women-led ventures.
- State-Level Startup Rankings: Encourages states to adopt policies and incentives that prioritize women-led startups.
- These initiatives collectively aim to enhance financial inclusion, mentorship, and market opportunities for women, fostering a supportive ecosystem that enables them to thrive and inspire future generations.
Inspiring Future Generations
With continued government support and societal encouragement, women-led startups are poised to redefine India’s entrepreneurial landscape, contributing to sustainable and inclusive economic growth. The following success stories are powerful examples of the unlimited potential women can unleash when given the right opportunities and support:
- Niharika Bhargava, CEO & Co-Founder, The Little Farm Co (Gurgaon, Haryana): Niharika established The Little Farm Co to revive India’s rich condiment heritage by offering preservative-free, homestyle products. Collaborating with over 100 farmer networks, primarily from tribal villages in Madhya Pradesh and Uttarakhand, she ensures that 70% of the workforce includes women. Her initiative not only provides employment but also celebrates India’s culinary traditions.
- Dr. Shalima Ahamed, CEO, Cocoroots Organic Private Limited (Kozhikode, Kerala): Dr. Shalima, after gaining vast corporate and academic experience, founded Cocoroots to address hair health issues using organic solutions. Her products, made from sustainable materials like neem wood combs, reflect a commitment to eco-friendly innovation. Shalima’s journey is a testament to blending personal passion with global sustainability goals.
- Radhika Lakhotia, Founder, Spentigo Sustainability Solutions Private Limited (Kolkata, West Bengal): Radhika is revolutionizing the food industry with “Fit Flour,” created by upcycling spent grains from breweries. Her venture tackles malnutrition, food waste, and affordability while empowering rural women. Supported by IIM Bangalore and endorsed by top industry players, her initiative merges sustainability with impactful nutrition solutions.
The success stories of trailblazers like Niharika Bhargava, Dr. Shalima Ahamed, and Radhika Lakhotia highlight the profound impact of women in driving innovation, sustainability, and empowerment. As women continue to break barriers and redefine norms, they are not just contributing to India’s economic growth but also paving the way for a brighter, more equitable future.
Additional Data and Insights
Financial Support and Inclusion
- Women Entrepreneurship Platform (WEP): Launched by NITI Aayog, WEP aims to create an ecosystem for budding and existing women entrepreneurs across India. It provides services such as free credit ratings, mentorship, funding support, and capacity building.
- Mahila E-Haat: An initiative by the Ministry of Women and Child Development, Mahila E-Haat is an online marketing platform to support women entrepreneurs, self-help groups, and NGOs. It enables them to showcase their products and services to a wider audience.
- Stand-Up India Scheme: This scheme facilitates bank loans between ₹10 lakh and ₹1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise.
Capacity Building and Awareness
- Digital Sakhi: An initiative by the L&T Financial Services, Digital Sakhi aims to empower rural women by providing them with digital and financial literacy training. The program has trained thousands of women to become community leaders and digital ambassadors.
- Women Entrepreneurship Development Programme (WEDP): Conducted by the Indian Institute of Management (IIM) Bangalore, WEDP offers training programs to enhance the entrepreneurial skills of women. It covers various aspects such as business planning, marketing, and financial management.
Recognition and Visibility
Women Transforming India Awards: Organized by NITI Aayog, these awards recognize and celebrate the achievements of women entrepreneurs who have made significant contributions to society. The awards highlight inspiring stories of women who have overcome challenges to achieve success.
FICCI FLO Awards: The Federation of Indian Chambers of Commerce and Industry (FICCI) Ladies Organization (FLO) honors women entrepreneurs and professionals who have excelled in their respective fields. The awards aim to inspire and motivate other women to pursue their entrepreneurial dreams.
Regional Empowerment
North East Rural Livelihood Project (NERLP): Supported by the World Bank, NERLP aims to improve rural livelihoods in the North-Eastern states of India. The project focuses on women-led self-help groups and provides them with training, financial support, and market linkages.
Udyam Sakhi Portal: Launched by the Ministry of Micro, Small and Medium Enterprises (MSME), Udyam Sakhi Portal is an online platform to support women entrepreneurs. It provides information on government schemes, funding opportunities, and training programs.
Inspiring Future Generations
Anisha Singh, Founder of MyDala: Anisha Singh founded MyDala, India’s largest coupon and discount platform, which has revolutionized the way consumers shop online. Her journey from a small startup to a market leader is an inspiration for aspiring women entrepreneurs.
Falguni Nayar, Founder of Nykaa: Falguni Nayar, a former investment banker, founded Nykaa, a leading beauty and wellness e-commerce platform. Her success story highlights the potential of women entrepreneurs to create impactful businesses in the digital age.
Richa Kar, Founder of Zivame: Richa Kar founded Zivame, an online lingerie store that has transformed the intimate wear market in India. Her innovative approach and determination have made Zivame a household name, inspiring many women to pursue their entrepreneurial dreams.
These additional data points and success stories will provide a comprehensive view of the initiatives supporting women entrepreneurs in India and highlight their significant contributions to the economy and society.
