Nearly 73,151 startups in India now have at least one woman Director — nearly half of the 1,52,139 startups supported by the government, thus showcasing the crucial role women play in driving innovation and economic growth, a government statement said on Tuesday.
Women entrepreneurs are emerging as radiant beacons of innovation and resilience, transforming industries and breaking barriers with their visionary leadership, according to the Ministry of Commerce and Industry statement.
The government has implemented several flagship schemes to promote women-led startups, it said, adding that Rs 3,107 crore has been invested in 149 women-led startups through Alternative Investment Funds (AIFs). Since its inception in April 2021, the Startup India Seed Fund Scheme (SISFS) has approved Rs 227.12 crore in funding for 1,278 women-led startups.
Operational since April 2023, the Credit Guarantee Scheme for Startups (CGSS) has guaranteed Rs 24.6 crore in loans for women-led ventures, said the ministry. Since its launch in 2016, the Startup India Initiative, driven by the Department for Promotion of Industry and Internal Trade (DPIIT), has been a game-changer in fostering entrepreneurship in the country.
The Centre has also implemented comprehensive measures to empower women entrepreneurs and strengthen the ecosystem for women-led startups, like a 10 per cent allocation for women-led startups reserved under the Fund of Funds for Startups (FFS), managed by SIDBI.
Alternative Investment Funds (AIFs) led by women are eligible to be considered for a higher level of management fee (0.1 per cent per annum). “The women capacity development programme (WING) workshops create a conducive environment to share best practices and experiences in overcoming challenges and to gain insights learned from the business models adopted in the Indian context,” the ministry informed.
Startups led by women are thriving across more than 600 districts in India’s tech ecosystem. More than half of the startups in these districts are being led by women.