Over 73,000 Startups in India Feature a Woman Director: Government Report
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New Delhi, Dec 10 (NationPress) A remarkable 73,151 startups in India now boast at least one woman Director, accounting for nearly half of the 1,52,139 startups supported by the government, demonstrating the significant impact women have on driving innovation and economic growth, as per a statement from the government.
Women entrepreneurs are emerging as shining examples of innovation and resilience, revolutionizing industries and dismantling barriers with their visionary leadership, according to the Ministry of Commerce and Industry.
The government has rolled out several key initiatives to bolster women-led startups, stating that a total of Rs 3,107 crore has been allocated to 149 women-led startups through Alternative Investment Funds (AIFs).
Since its launch in April 2021, the Startup India Seed Fund Scheme (SISFS) has authorized Rs 227.12 crore in funding for 1,278 women-led startups.
Operational since April 2023, the Credit Guarantee Scheme for Startups (CGSS) has secured Rs 24.6 crore in loans for ventures led by women, stated the ministry.
Since its inception in 2016, the Startup India Initiative, spearheaded by the Department for Promotion of Industry and Internal Trade (DPIIT), has revolutionized entrepreneurship across the nation.
The Centre has also introduced comprehensive strategies to empower female entrepreneurs and enhance the ecosystem for women-led startups, such as a 10 percent allocation for women-led startups reserved under the Fund of Funds for Startups (FFS), managed by SIDBI.
Women-led Alternative Investment Funds (AIFs) qualify for a higher management fee of 0.1 percent per annum.
“The women capacity development programme (WING) workshops foster an environment conducive to sharing best practices and experiences in overcoming challenges, while also providing insights from business models tailored to the Indian context,” the ministry noted.
Women-led startups are flourishing across over 600 districts within India’s technology ecosystem, with more than half of the startups in these regions being spearheaded by women.
