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{"id":13210,"date":"2023-06-28T10:32:59","date_gmt":"2023-06-28T10:32:59","guid":{"rendered":"https:\/\/doerlife.com\/?p=13210"},"modified":"2023-06-29T09:19:14","modified_gmt":"2023-06-29T09:19:14","slug":"empowering-indias-women-led-startups-overcoming-the-gender-funding-gap","status":"publish","type":"post","link":"https:\/\/doerlife.com\/empowering-indias-women-led-startups-overcoming-the-gender-funding-gap\/","title":{"rendered":"Empowering India’s Women-Led Startups: Overcoming The Gender Funding Gap."},"content":{"rendered":"\n
Indian women-led startups continue to face significant challenges in overcoming the gender funding gap. Aditi Bhutia Madan, a successful businesswoman and former MasterChef India contestant, experienced firsthand the obstacles that hindered her access to formal financing for her startup, Yangkiez By MomoMami.<\/p>\n\n\n\n
For years, Madan struggled with loan sharks demanding exorbitant interest rates or ownership stakes in her business. These challenges were compounded by the additional barriers faced as a woman entrepreneur in India. However, Madan’s journey took a positive turn when she joined the Women StartUp Programme (WSP) at NSRCEL, a renowned business incubator at the Indian Institute of Management Bangalore.<\/p>\n\n\n\n
Through the WSP, Madan received training in crucial business skills, including the art of pitching for financing. Equipped with newfound knowledge and confidence, she presented her business on the reality show Shark Tank India and secured 7.5 million Indian rupees ($91,000) from investors. This investment enabled her to enhance capacity and infrastructure at her company’s production units.<\/p>\n\n\n\n
India currently ranks 57th out of 65 countries on the MasterCard Index of Women Entrepreneurs, reflecting the existing challenges faced by women in business. Government data shows that only one in five businesses in India is led by women. Access to capital remains a significant barrier, with women entrepreneurs facing an unmet credit gap of over $11.4 billion. Furthermore, female entrepreneurs receive a mere 5.2% of the outstanding credit granted to enterprises by Indian public sector banks, as highlighted by the International Finance Corporation (IFC).<\/p>\n\n\n\n
The financing gap primarily stems from gender discrimination and conservative societal attitudes prevalent in a country with a population of 1.3 billion. Many women entrepreneurs rely on self-financing or support from family, both of which present challenges. In fact, a Bain & Company and Google survey found that 43% of women entrepreneurs reported a lack of support from their families and spouses.<\/p>\n\n\n\n
Sucharita Eashwar, the founder of Catalyst for Women Entrepreneurship, emphasizes that family support and finance are often the initial hurdles faced by women entrepreneurs. Changing these attitudes is crucial. Investors must adopt a neutral stance regarding gender during pitching meetings, focusing solely on the merits of the business. Gender, age, and marital status should not be determining factors in funding decisions.<\/p>\n\n\n\n