Know what is the In thing now

Indian start-ups poised to create 2 million jobs for women by 2030

Indian startups to create 2 million Jobs for women

The Women in India’s Start-up Ecosystem Report (WISER) highlights the potential for Indian start-ups to create two million new jobs for women by 2030. WISER is a collaborative effort between ACT for Women and The Udaiti Foundation, focusing on gender diversity and equity in the start-up sector. According to the report, women constituted 35% of the start-up workforce in 2022, a significant increase compared to the corporate sector, where only 19% are women. The report suggests that with strategic efforts, this figure can reach 50% by 2030.

The power of start-ups

Start-ups are recognized as providing an environment conducive to women’s professional growth. They offer faster career progression and greater autonomy, allowing female employees to pursue their career goals at various stages. Furthermore, women-led start-ups demonstrate even better gender equality, with those having at least one female founder having 2.5 times more women in senior roles compared to male-founded start-ups.

Aakanksha Gulati, Director of ACT, noted that the launch of WISER was rooted in the belief that Indian start-ups, due to their innovative nature and propensity for action, could lead the charge in transforming workplace conditions for women. The willingness of over 200 start-ups to share their experiences and contribute to the report reflects the commitment of the start-up community to effect substantial change for women in India.

The report underlines that, in comparison to traditional enterprises, start-ups are outperforming in terms of gender diversity. It reveals that 32% of women occupy managerial positions in start-ups, compared to 21% in corporate organizations. This disparity becomes more pronounced at the CXO level, where corporates have only 5% of women in leadership roles, in contrast to 18% in start-ups. However, there is still work to be done: a substantial gender gap exists, with 8 out of 10 men in start-ups reaching Director-level positions or higher after ten years in their careers, while only 5 out of 10 women achieve the same.

The need for more

Gulati emphasized that WISER has determined that stand-alone diversity, equity, and inclusion (DEI) initiatives are insufficient. The report argues that the most successful start-ups in advancing gender equity are those that understand the importance of cultivating an inclusive workplace culture alongside implementing supportive practices, policies, and hiring practices. It is the combination of these elements that are essential for the intentional recruitment, retention, and advancement of women in the workforce. While acknowledging the remaining challenges, the report remains optimistic about the potential of the start-up ecosystem to build a compelling case for prioritizing gender equity in the workplace.

Hence, the WISER report underscores the remarkable progress made by Indian start-ups in promoting gender diversity, offers insight into the gender gap that still exists, and highlights the critical role that inclusive workplace cultures, practices, and policies play in advancing gender equity. The report’s findings are not only encouraging but also serve as a call to action for the start-up community to continue driving meaningful change for women in the Indian workforce.

You might also be interested in

Get the word out!