Women have founded companies and held the cofounder and founder chair but today many are transitioning to CEOs, which is an important transition, Arunkumar is vice president at Eight Roads Ventures India, while Bhatia is partner and head of technology (consumer and financial services investments) at Eight Roads Ventures India
In the Indian startup ecosystem, the share of women-founded (or co-founded) startups has almost doubled from 10 percent in 2016 to 18 percent in 2022
Illustration: Chaitanya Dinesh Surpur
As India evolves to become a global economic superpower, our startup ecosystem is also witnessing a transformation of its own. According to a Nasscom-Zinnov report on the Indian startup ecosystem, the share of women-founded (or co-founded) startups has almost doubled from 10 percent in 2016 to 18 percent in 2022. Interestingly, they had a similar success rate compared to their male counterparts across all funding stages (seed to late-stage), which confirms that when provided with the right support, women-founded startups produce equally strong economic outcomes compared to their male counterparts.
In a BCG report, global studies have shown that startups founded or co-founded by women typically hire 3x more women and generate about 10 percent more cumulative revenues over a five-year period. We have more women founders today than we did a decade ago, and increasingly more who are CEOs of their own companies. So how did we get here?
Unlike maybe a decade ago, a woman starting a company today has many more role models to look up to, regardless of sector. The likes of Kiran Mazumdar-Shaw, founder and CEO of Biocon, who built India’s first listed-biotechnology company, Falguni Nayar, founder and CEO of Nykaa, in e-commerce, and Renuka Ramnath, founder and CEO of Multiples Alternate Asset Management, have all broken glass ceilings in traditionally male-dominated sectors.
Women are pursuing professional courses at prestigious institutions, specialising in fields that they’re passionate about and as a result, we see a growing talent pipeline of ambitious women. With better access to myriad professional opportunities, they are now working their way up to more senior and leadership roles in companies. Armed with educational qualifications and significant work experience, women have the confidence, experience, and a network of like-minded individuals to take the next step—start their own company.
(This story appears in the 24 March, 2023 issue of Forbes India. To visit our Archives, click here.)