Empowering Entrepreneurs: Celebrating Women’s Impact on India’s Startup Ecosystem and their approach to growth in today’s dynamic market

• ByStartupStory     |    March 7, 2024

India’s entrepreneurial landscape is experiencing a transformative wave, with women entrepreneurs taking the helm and steering businesses towards success. Despite challenges, their leadership brings forth unique perspectives, innovation, and a commitment to fostering inclusivity. Research underscores the positive impact of female leadership, emphasizing the need for inclusivity and dismantling existing barriers to unlock the full potential of women in business.

Women entrepreneurs in India are boosting the start-up ecosystem. In the past decade, India has experienced rapid growth in entrepreneurship, with women in business making much progress. Thus, these entrepreneurs need to be celebrated, empowered, and supported every day. With International Women’s Day just round the corner, leaders from the ecosystem share their thoughts on women entrepreneurship.

“Women’s representation is paramount in fostering an inclusive and innovative future. At Aza Fashions, we recognize the invaluable contributions women make to our success. From leadership roles to every facet of our organization, women bring diverse perspectives, talents, and insights that enrich our workplace and drive innovation. As we continue to expand as the premier destination for luxury designer creations, catering to a global audience of women, we are committed to championing forward-looking policies of diversity, inclusion, and equal opportunities for all,” said Devangi Parekh, Managing Director, AzaFashions.com.

“Women entrepreneurs are aggressively changing the ecosystem by spearheading profitable businesses, expanding their footprints, and designing unique business models. We at Azent, India’s leading study abroad platform, ensure holistic growth for our women employees by investing in, strengthening, and supporting important milestones and career development for them. From mentorship programs for women, to embracing hybrid work, to emphasizing equal pay and addressing gender bias, our inclusive workplace policies enable young women to realize their potential,” said Priyanka Nishar, Founder & Managing Director- Azent Overseas Education.

Priyanka Pani,.Founder, Nutgrafpr and Media Advisory: “A true leadership doesn’t know any gender but given a chance, I believe women will make great leaders simply because of their creative thinking, multitasking skill and approach to solve a problem. In today’s dynamic business environment, decision makers are expected to act fast without disrupting the ecosystem, and in such a scenario womenleaders tend to do better as they are agile, collaborative, empathetic, highly adaptive and possess high emotional quotient/intelligence when needed to resolve a conflict situation. These are some skills that cant be learnt but comes naturally to women. We need to see more women in business.”

“From dorm room dreams to a nationwide impact, Adapt Wellness is not just a startup; it is a mental health care revolution to support student wellness. By adapting to individuals’ unique journeys, we empower them to adapt to their own challenges. Together, we are reshaping the narrative around mental well-being. Platforms like TiE that helped us connect with various women founders who uplift and support the growth of one another, have immensely enriched our journey!” said Preet Bhatti, Co-Founder, Adapt Wellness.

Ms. Ayushi Arora Gulyani – Founder and CEO of Media Corridors: “On this International Women’s Day, I extend a heartfelt message to the younger generation of women, urging them to embrace the exhilaration of leadership. Uncover your unique strengths and passions, for your true authenticity radiates when you pursue what you genuinely love. Recognize that within each individual lies the potential to be a formidable driving force, and by empowering women across all societal domains, we contribute significantly to comprehensive progress. This Women’s Day, let’s not only applaud women’s accomplishments but also celebrate the rich diversity and dynamic contributions they bring to various facets of life. Cultivating a culture that esteems merit and welcomes the full spectrum of gender identities is the key to fostering a more inclusive, vibrant, and flourishing society. Together, let us pave the way for a future where every woman’s potential is realized, acknowledged, and celebrated.”

Ms. Yukti Gill – Co-Founder, Satyukt Analytics: “As we commemorate International Women’s Day, let’s reflect on the diverse challenges confronting women entrepreneurs from various walks of life. From navigating gender biases to breaking cultural barriers, the entrepreneurial journey for women is multifaceted. In each industry and background, we encounter unique hurdles—be it accessing resources, overcoming societal expectations, or balancing family responsibilities. However, it’s precisely in confronting this array of challenges that we find strength, resilience, and a collective determination to pave the way for future generations. Empowering women entrepreneurs is not just about breaking glass ceilings; it’s about dismantling the walls that confine us in different spheres. By acknowledging and addressing these varied challenges, we foster an inclusive environment where every woman, regardless of her background, can thrive and contribute meaningfully to the entrepreneurial landscape.”

Skilling & Entrepreneurship of Rural Women – Priya Subodh, Director for Women Skilling and Social Entrepreneurship- 1M1B Foundation (One Million for One Billion): “In India, where women contribute approximately 18% to the GDP (significantly lower than the global average), enhancing their participation in the workforce could boost the economy by over $700 billion by 2025. This is why skilling initiatives need to transcend traditional, gender-defined roles; and embrace technology as the great equalizer. By empowering women with technology skills, we open up a broad spectrum of opportunities, enabling them to participate fully in the new digital economy. This transition from mere empowerment to tangible enablement is crucial. It’s not just about equipping women to take care of themselves and their families; it’s about integrating them into the formal job market on a mass scale, and leveraging technology to bridge the gaps. As we celebrate International Women’s Day, let’s commit to investing in women and inspiring inclusion, while recognizing that when women thrive, economies prosper.”

Inclusion of Women in the Adventure Tourism Industry – Rama Mahendru, Country General Manager- India, Intrepid Travel: “As we celebrate International Women’s Day, it is critical to acknowledge the invaluable contributions of women in shaping the tourism industry. Their leadership, creativity, and dedication have transformed the sector while also fostering an inclusive and diverse culture. Today, we celebrate their resilience and vision, recognizing that true progress is achieved by embracing each individual’s unique perspectives and talents. Let us continue to advocate for gender equality, encourage women to excel in their roles, and foster an environment in which everyone, regardless of gender, feels valued and respected. Intrepid Travel not only advocates for women’s inclusion but also implements it to the fullest. This is evident from Intrepid Travel’s step towards enhancing gender diversity in tour leadership. We are working assiduously towards achieving balanced female tour leaders. Together, we can inspire inclusion and create a more equitable and prosperous future for the tourism industry and beyond. Our focus is on inclusion, thereby making Intrepid Travel the first to take this step of hiring female tour guides.”

“I firmly believe that women leaders bring invaluable perspectives and approaches to problem-solving, driving innovation and adaptability essential for success in today’s dynamic market. Growing up in a Tier 2 city like Surat, where opportunities for MBA or BBA education were limited, I found my passion for numbers and entrepreneurship through my introduction to the Chartered Accountancy (CA) course during my 12th grade. Coming from a family with a background in commerce, I realized early on that numbers were in our blood, and pursuing CA not only enhanced my skills but also nurtured my entrepreneurial spirit. Over the past decade, my journey alongside my husband in the renewable energy sector has been marked by a commitment to sustainable business practices. Starting with Namita Solar, we ventured into solar panel manufacturing, and our passion for sustainability led to vertical expansions, including the manufacturing of EVA sheets and EV batteries. In 2021, we launched Evify with a vision to decarbonize last-mile logistics in urban centers through electric vehicle fleets, contributing to a larger ecosystem of sustainable businesses. Our journey exemplifies the transformative power of innovation and commitment to a greener future.” – Pragya Mittal, Founder, Evify

“Women leaders infuse our organization with diverse perspectives, empathetic understanding, and a deep connection to the needs of our community. In the world of health and hygiene, especially focused on women’s well-being, our approach is not just about products—it’s about empowerment. Women leaders bring a nuanced understanding of the challenges faced by women every day, from menstrual health to intimate care. This understanding translates into solutions that are not only effective but also resonate on a personal level with our customers. This combination of robust leadership, combined with empathy really works for our brand. They bring compassion, resilience, and strategic thinking to the table, qualities that are not just valuable but indispensable in today’s competitive landscape.” – Ms. Srijana Bagaria, Co-Founder, Pee Safe

“Women leaders bring unique perspectives and approaches to problem-solving, fostering innovation and adaptability, crucial for business growth in today’s dynamic market. ‘If you want something said, ask a man; if you want something done, ask a woman.’ – said Margaret Thatcher once. Not to generalize but in my 22 years of career, I have come across women who are excellent at execution. Women truly are masters at multitasking. Managing different buckets & people efficiently and with maximum outfit and so much attention to detail is impeccable. They often demonstrate a very thoughtful approach to risk management and long-term planning, considering the potential implications and consequences of decisions on both short-term outcomes and long-term sustainability which increases the possibility of success. Women also have an extraordinary ability to understand, emotionally empathize and connect with others which enhances collaboration, creativity, and overall team performance which is a differentiating factor. In today’s fast-paced market environment, there is a noticeable shift towards companies that prioritize their people as the fundamental resources. With intense competition, the ability to optimize resources becomes crucial, an area where women excel. Their skills in collaboration, multitasking, and empathetic leadership make them invaluable assets in creating people-centric organizations that thrive amidst fierce competition.” – Payal Jain, Founder, Fungroo

Statistically, there is enough data to show that women-led businesses do better on all fronts even though they receive a lesser amount of funding both in terms of the number of deals as well as value. Data published by the U.S. Census Bureau, Dow Jones, the Harvard Business Review, and others from 10 private and public studies show that women-led businesses generate more revenue, have an enormous appetite for risk and growth, create more jobs, and are more effective in leadership. Diversity brings different perspectives and fosters innovation. Women have more open styles of leadership, which encourages collaboration and unlocks new ideas and approaches. With newer technologies like AI gaining more ground, it is essential to have more inclusiveness so that the marginalized are not further marginalized. The female economy is growing, with women representing a significant market in spending and influence. Having women leaders at the helm would help tap this considerable growth opportunity. – Tanul Mishra, Founder, Afthonia Labs. 

“A conservative Jaipur girl who had always done well in academics, I somehow always looked forward to building a career. I didn’t aspire to become a VC someday, but I just knew that whatever I do, I must give in 100%. Luckily, my husband compounded my efforts. We founded a boutique investment banking firm together, I also built Multibhashi, and am now pouring my heart out to build Dexter Ventures, where we back promising early-stage entrepreneurs with capital to fuel their dreams. My journey reflects the power of belief and support in unlocking one’s true potential.” Says Anuradha Agarwal, General Partner, Dexter Ventures.

Smiti Bhatt Deorah, COO & Co-founder, Advantage Club:“ Women taking on leadership roles is paramount to any business. Not only does it drive better diversity and innovation, it also brings in unique perspectives, which women bring in a business. More women leaders encourage and empower a larger women workforce in their companies and help increase participation and retention for working women in India. We must continue to empower and support each other as we redefine what it means to be successful and pave the way for a brighter future for generations to come.”

Garima Mitra, Co-Founder of Treelife:“As leaders in the business world, women often motivate and inspire each other to break stereotypes. Through sharing my journey, I strive to encourage women entrepreneurs to fearlessly pursue their dreams. Women bring resilience, creativity, and empathy to business, fostering inclusive cultures that drive innovation. Let’s celebrate women challenging stereotypes and empowering other women to lead, shaping a future where diversity and inclusivity is the norm and not an option. ”

Zahara Kanchwalla,  co-founder & CEO, Rite Knowledge Labs “Women entrepreneurship is not merely a trend but a compelling force for driving economic growth. As more women step into entrepreneurial roles across diverse industries, they contribute not only to their own success but also to the broader prosperity of the economy and society. Currently, women entrepreneurs are an underutilized economic asset. Only 14% of entrepreneurs in India are women and 20% of the MSME sector comprises women-led businesses.  Slowly but steadily this is undergoing a shift. Today, women are diversifying from conventional domains such as cottage industries and teaching and venturing into unconventional sectors like sports, construction, and technology.”

 Rozy Efzal, Director, Invest4Edu Pvt Ltd.

“Researcher’s globally demonstrates consistently the advantages of gender diversity in workforce and leadership. Women Leaders bring different skills, leadership styles and problem solving approaches. It is also found that one of the many reasons that we dont see more women in leadership positions is because there are not enough role models, working women face imposter syndrome frequently.Breaking the glass ceiling should not remain an individual challenge to change the scenario of working women. Corporates should be looking out ways to implement policies and practices that promote gender blind recruitment, diversity, mentorship programs and flexible work arrangements. If we look at Indian women participation in workforce we fall behind many Asian countries India’s growth story can no more be crippled with gender gap and lack of women representation in workforce.”

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