According to a report published Wednesday by the National Association of Software and Services Companies (Nasscom) in collaboration with Zinnov, 18 per cent of startups in India are led by at least one woman founder or co-founder. Of these, the number of unicorns and potential unicorns come up to around 36 in 2022.
Indicating the rise of women leaders in India’s start-up ecosystem, the report also found that between 2019 and 2022, 17% of investment deals in India were raised by startups with women leaders.
The report read, “The percentage share of women-founded start-ups across stages of growth is in line with their participation in the ecosystem – indicating equal odds of success compared to their male counterparts. Thus, providing evidence of the women’s intent and capability to play a role in the nation’s economic growth and the crucial need for accelerating DE&I initiatives.”.
According to the report, the percentage of startups established in emerging locations rose from 34% in 2021 to 39% in 2022. India continues to play a dominant role taking the third spot in the global startup sector with at least 25,000-27,000 active tech startups. The US tops the list with China in second position.
The report highlighted that startups in India doubled down on operational efficiency instead of sacking staff or winding down operations in 2022. Last year, India saw the addition of nearly 1,300 fresh startups and the second highest number of unicorns in the world.
Compared to 2021, there was an 18 per cent spike in the number (1,400) of startups that received funding.
President Droupadi Murmu, in October 2022, had inaugurated ‘herSTART’, a platform to encourage women entrepreneurs. The government of India has also introduced a monthly allowance of ₹20,000 for up to one year for women-led startups.
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