According to the Economic Survey 2019-2020, only 43 per cent of all recognised startups in India had a woman director as of 8 January this year. Out of 57 surveyed countries in the Index of Women Entrepreneurs 2019, as of 8 January, India ranked 52.
“Women have no risk covering possibility financially, besides lack of credit support. There is lack of institutional support system for first-timers so even at smallest obstacle they give up. Overall, in a discouraging environment one needs to get the support of families,” said Ranjana Kumari, director, Centre for Social Research, according to LiveMint.
“Women make up for 70% of the global health workforce and are the primary caregivers for the elderly and children. Despite their clear dominance in healthcare, investor interest in health startups by women continues to remain scarce,” said Savitha Kuttan, CEO, Omnicuris, a health-tech startup according to the newspaper. “While Startup India has helped budding entrepreneurs interact with industry leaders, formulate and execute business plans, we need to focus on promoting women entrepreneurs in the science and healthcare sector.”
Also, the Indian startup culture is fading. BusinessLine reports, citing data from Tracxn that Indians founded around 5000 ventures in 2019 which is 39 per cent lower than in 2018.
According to experts, this is due to fading entrepreneur culture and rising competition but investments are still pouring in. Tracxn reports that Indian ventures raised over 20.5 billion dollars in 2019 which was the highest in the last five years.