Only 15% Indian Unicorns Have Women Founders, Bridging Gender Divide Still A Work In Progress
- ByStartupStory | May 11, 2022
The Indian startup ecosystem set a historic milestone last week when the Neo Banking Platform Open became a unicorn in its latest funding round and became the 100th startup to join the Indian Unicorn Club. This is certainly a celebration, but it is also an opportunity to identify and address shortcomings so that India can get the next 100 unicorns and even 500 unicorns much faster.
One area that needs attention is gender inequality. India’s startup ecosystem needs more founders and investors as current figures on women’s participation are bleak.
Only 15% of Indian unicorns have at least one female founder, but there is also little funding for startups founded solely by women.
Some studies have shown that more women’s founders can not only lead to more women’s workforce participation, but also make significant contributions to the domestic and global economies.
The country’s 100th unicorn, Open, is founded by two founders, Mabel Chacko and Deena Jacob. Nykaa, Mamaearth, Hasura, The Good Glamm Group, Pristyn Care, OfBusiness, Lead School, Mobikwik, Acko Insurance, BYJU`S, Rivigo, Zenoti, Livspace are other Indian unicorns with at least one female founder.
Falguni Nayar, the founder of Nykaa, became India’s wealthiest homebrew entrepreneur last year after an excellent IPO on a beauty e-commerce platform. Nayar was also the first Indian woman to lead the startup’s initial public offering. Her success also served as a role model for the country’s exciting female founder.
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