– Authored by Ms. Shalini Tewari, Founder of Qureka.
In today’s evolving world, women have come a long way from just being homemakers and have been extremely instrumental in building an identity of their own, all by themselves. With their grit, determination, and strength of purpose; women today have become successful entrepreneurs, changing the landscape of start-ups in India. Many of these women do not have any entrepreneurial background, yet they choose to take up the challenging path and excel in the same. From bringing in innovations to being hands-on with technology to opening up new vistas and rousing their own, these females are the leaders of today.
India as a country has transformed itself into a technology hub in the last three decades. The IT and tech industry which was largely a male dominant one a few years back has now started witnessing a swift shift as women entrepreneurs are increasingly inclining towards being tech entrepreneurs. The ‘Women Tech Entrepreneurs’ trend is gathering momentum in India and it is anticipated that women will play a huge role fuelling the IT and Technology industry in the coming years and will play a crucial role in fuelling the development of the country.
Women are proactively bringing in fresh ideas into the technology and commercial space in India. The government has been equally supportive by introducing several progressive initiatives and measures for professional women entrepreneurs, making the country a vibrant entrepreneurial landscape. Business women are now becoming fundamental drivers of change in the overall economic growth and it is estimated that by 2025, India’s GDP will get an additional increase of 16 percent by incorporating women into the workforce. The Indian start-up ecosystem, with over eight million women entrepreneurs, is at an inflection point where a speedy pro-women change is of utmost importance. The government-led programmes such as MUDRA, Stand-Up India and NITI Aayog’s recent Women Entrepreneurship Platform (WEP) are steps in the right direction to encourage budding women entrepreneurs to come forward and pursue their dreams of entrepreneurship. Women entrepreneurs need to leverage on the latest technologies. With promising technologies such as blockchain, Deeptech, Artificial Intelligence and Internet of Things (IoT), it is crucial that the skill set of women be expanded to match the current market scenarios.
According to research, IT is the second most preferable sectors by women entrepreneurs after professional services. A woman in the tech industry, especially the one who is trying to start up on her own, has to be extremely strategic in her approach as she may have to face many roadblocks in her entrepreneurial journey; raising funds being one of them. It’s important that venture capitalists are encouraged to invest in women-founded start-ups to combat the current fundraising barrier faced by women entrepreneurs.
In establishing high-risk, high-reward businesses in an evolving knowledge economy, women today are changing the perceived notion of women being the owners of small scale businesses only. Some of the factors that have contributed for the rise of women entrepreneurs in India, especially in the tech sector are – the changing perception of entrepreneurship in India, better access to education, increase in the social acceptance for women entrepreneurs, better infrastructure and access to finance and rise of role models in the field of women entrepreneurship.
The advancements in the technology sector are poised to disrupt many industries in the coming years, and women will play a big role in the revolution. India is the third-largest start-up hub in the world and is gradually becoming a home for women entrepreneurs who are deftly changing the pattern and trends of tech-led companies through their leadership skills. Disruptive and innovative in their ideas, women with an entrepreneurial bug refuse to submit and accept defeat and are all set to change the game in the long run.