Empowering Women entrepreneurs: 73,000+ startups in India now have female directors

New Delhi (The Uttam Hindu): Nearly 73,151 startups in India now have at least one woman Director, which is almost half of the 1.52 lakh startups supported by the government. This highlights the vital role women play in driving innovation and economic growth in the country. The Ministry of Commerce and Industry shared this information on Tuesday, noting that women entrepreneurs are leading the way in transforming industries with their creative and resilient leadership. To support women-led startups, the government has introduced several key programs. For example, Rs 3,107 crore has been invested in 149 women-led startups through Alternative Investment Funds (AIFs). Additionally, since April 2021, the Startup India Seed Fund Scheme (SISFS) has provided Rs 227.12 crore in funding to 1,278 women-led startups. In April 2023, the Credit Guarantee Scheme for Startups (CGSS) also began guaranteeing loans of up to Rs 24.6 crore for women-led businesses. The Startup India Initiative, launched in 2016 by the Department for Promotion of Industry and Internal Trade (DPIIT), has been crucial in promoting entrepreneurship across the country.

To further empower women, the government has implemented measures such as reserving 10% of funds under the Fund of Funds for Startups (FFS) for women-led ventures. In addition, AIFs led by women are eligible for a slightly higher management fee of 0.1% per year. The government also runs a Women Capacity Development Program (WING) that organizes workshops to share best practices and experiences. These workshops help entrepreneurs overcome challenges and learn from successful business models in India. Startups led by women are growing in over 600 districts across India, with more than half of the startups in these areas being led by women.