How Women-Led Startups Can Champion Gender Balance in India With over 100 unicorns and more than 73,000 startups led by women directors recognized under the Startup India Initiative

India's economic narrative has seen a remarkable transformation over the past decade. However, the road to gender equity in entrepreneurship remains uneven. Historically, startups led by women have been few in number. In 2017, women-led startups accounted for only 10 per cent of the total, and by 2022, that number grew to just 18 per cent. Unicorns—startups valued at more than USD 1 billion—remain largely dominated by male founders.

Nevertheless, 2024 saw progress, with over 100 unicorns and more than 73,000 startups led by women directors recognized under the Startup India Initiative, according to the Press Information Bureau (PIB).

The drive behind women entrepreneurs

Many women entrepreneurs in India are inspired by personal experiences that fuel their determination to solve real-world problems.

Priyanka Salot, Co-founder of The Sleep Company, shares her journey: "During my pregnancy and postpartum phase, I spent countless sleepless nights searching for the right mattress. Despite trying multiple options, none provided the comfort and support I needed as a new mother. This realization unveiled a glaring gap in the Indian market, where mattresses lacked innovation and quality compared to global standards."

"Overcoming skepticism was one of the most significant challenges in building a high-quality, science-backed mattress. Many dismissed the need for innovation in what they perceived as a standardized product, often saying, 'A mattress is a mattress. It will look the same,'" she adds.

Similarly, Saloni Anand, Co-founder of Traya, was driven by a personal challenge. "My husband, Altaf, was dealing with severe hair loss. Witnessing his struggle with hair fall and the accompanying emotional stress was truly painful. We tried everything, from Ayurvedic remedies to dermatological treatments. This journey inspired us to create Traya—a brand combining allopathic and Ayurvedic solutions with a focus on customer well-being," explains Saloni.

For women in male-dominated industries like real estate, breaking stereotypes was part of Shivani Karia Jhaveri's journey as Co-founder and COO of Blox. "While it's true that I am a woman co-founder in an industry traditionally perceived as male-dominated, this has never posed a barrier for me. I've embraced challenges with a fresh perspective, leveraging empathy, creativity, and strategic thinking to drive innovation and growth," she shares candidly.

Adding to this, Dr. Vibha Tripathi, Founder of Boon, says, "Being early in the Watertech space came with its own challenges, where we had to prove our knowledge, expertise, and vision at each step. But I took it as motivation to build something solid and impactful that completely redefines the industry."

Encouraging space for women

Many women-led startups prioritize diversity and inclusion as part of their mission.

"At Traya, diversity and inclusion are core to our company culture. We maintain a near-equal gender ratio of 50:50 and encourage open communication and feedback-driven growth," says Anand.

Similarly, Shauravi Malik and Meghana Narayan, Co-founders of Wholsum Foods, believe that diversity strengthens their business. "For us at Wholsum Foods, diversity isn't a metric to meet—it's a reflection of how we think, build, and grow. A mix of perspectives, experiences, and skills leads to better ideas, stronger teams, and a more meaningful workplace. Women hold 50 per cent of our leadership roles," both co-founders explain.

Encouraging more women entrepreneurs, Salot advises women to follow their dreams, "To all the aspiring women entrepreneurs in India, I want to share this—never give up on your dreams and always follow your passion with unwavering belief. Don't let self-doubt or societal expectations hold you back. Dream big, take charge of your career, and own your journey."

Aashka Goradia Goble, Founder and CMO, Renee Cosmetics echoes similar thoughts, "Believe in your vision and take that bold first step. The journey may seem daunting, but passion, resilience, and determination can overcome any challenge. Success comes from understanding the industry, listening to your customers, and staying true to your values."

Research suggests that women in leadership roles bring fresh perspectives and tackle societal challenges, particularly those affecting women and children. Their inclusion in the workforce inspires more women to participate, directly benefiting India's economy.