How are the chances of Women Leading Industries like Healthcare, Science, and Technology?

This article is contributed by Ms. Pritika Singh, CEO, Prayag Hospital & Research Pvt. Ltd.

Despite the sword of Covid-19 hanging above our head and living with our 'new Normal', 2021 saw some revolutionary change in the startup industry all over the world. Almost every industry experienced a boom in a number of successful startups throughout the year. In this run, India is not far away. In fact, the year 2021 turned out to be a substantial one for Indian start-ups and entrepreneurs. India saw a monumental rise of 46 businesses that achieved unicorn status. Out of the total, 95 unicorns so far in India, 44 achieved that status in 2021 only.

Women Entrepreneurs in India

This news deserves a massive celebration, and the fact that India now has 13 female unicorn founders, 8 of which joined the list in 2021, makes the deal even sweeter. The path paved and led by the likes of business stalwarts like Kiran Mazumdar Shaw (Chairperson of Biocon), Indra Nooyi (former Chairperson and Chief Executive Officer of PepsiCo.), and Falguni Nayyar (founder and CEO of Nykaa) is attracting more women business leaders to lead from the front and it is just the start.

Representation from names like Gazal Kalra (Founder of Rivigo), Ruchi Kalra (Founder of OfBusiness), Saritha Katikaneni (Founder of Zenoti), Ruchi Deepak (Founder of ACKO Insurance), Rashmi Verma (Founder of MapmyIndia), Garima Sawhney (Founder of Pristyn Care), Kavitha Subramaniam (Founder of Upstox), and Upasana Taku (Founder of MobiKwik), has proved that women entrepreneurs are here to stay. Not only that, but they are also shattering glass ceilings and carving a niche for themselves in industries like healthcare, science, and technology, the industries that are mostly populated and usually associated with men. These are still only the names of some female unicorn founders; thousands of stories are still untold of the women who are redefining businesses in these segments in their own way.

Struggles that Women Entrepreneurs Faces

The breakthrough of these women entrepreneurs is the much-needed silver lining, but this transformation is far from its completion yet. There is still a long way to go. And now that we are celebrating this breakthrough of sorts, it makes sense to underline the hardships and struggles that woman entrepreneurs face at large.

Societal Challenges

The societal design has kept women from stepping out of their homes and taking professional responsibility for the longest time. Despite all being said and done, when a woman eventually steps out of her home to work, her journey is quite distinguished from their male counterparts. Literary legends like Maya Angelou have also raised such issues of motherhood, marriage, and the challenges of being a working woman in society. Men have the liberty of switching off from their work after and before office hours, but sadly, women are devoid of that option. When a lady chooses to work at a job or a business, they meet an exclusive set of challenges. These include taking care of the home as well as their professional responsibilities. Such systematic design ends up burdening women even more instead of liberating them. There is always this added onus of striking a work-life balance and navigating home and office responsibilities onto these women. Despite all challenges, if we are witnessing so many women entrepreneurs and leaders on the rise, it proves that they excel at tackling them.

Less of Capital

When it comes to women founders, discrimination still exists in the form of the financial aid that they receive. Though women have proved themselves time and again to be as capable as their male counterparts in all respects in terms of businesses, the investors still find it difficult to believe they can lead an organization and this disbelief often leads to diminishing funds.

Reduced Support and Mentorship

Support from advisors and mentors always proves to be effective when it comes to business. However, as far as the women founders are concerned, they were still underprivileged in terms of the support they receives from advisors. According to the last survey, over 48% of the female entrepreneurs stated that the lack of support was prominent during their career and this lack of advisors restrained their growth massively.

Lack of Networking Opportunities

Women are always underestimated in every section of society even in this very millennia that we are living. This is why they seem to be forever lacking in networking opportunities and are always kept aside from their male counterparts. A proper network in the field of business or rather the lack of it can certainly set two persons wide apart.    

Pressure from All Sides

Time and again, the debate surfaces that a woman has to work twice as much as their male peers to attain even remotely comparable recognition, remuneration, and other perks. They must prove them constantly, which pushes them to work harder. As a result, they have no other option but to give their best every single day. Women also excel at taking criticism and feedback. They are also better at multi-tasking, listening, and observing. Such qualities combine to make these women excel at their work in several aspects.

Women Leaders in Different Sectors

It is the result of these qualities, perseverance, and passion that has established these ladies as leaders. Today, women are breaking the barriers of traditional moulds and making their names in medicine, technology, healthcare, and science. The women are now redefining the rules of the game. Better yet, they are even deciding the new rules by themselves.

The camaraderie amongst the female workforce and a commitment to supporting each other is what’s helping them emerge out as the real champions. A doctor, lawyer, scientist, teacher, entrepreneur, or any role, the ladies are here to stay and lead the game from the front. We should not be surprised if 2022 presents 30 female unicorn founders instead of the current 13, especially since we have witnessed the event once.

Conclusion

It doesn't matter what type of industry it is going to be, women leaders are going to conquer them all and they have already started to spread their wings in almost all of them. It's just the beginning of something great and we will witness the rise of some of the greatest women entrepreneurs in the coming years. Here, one thing is for sure that the women, as they are and always have been on the receiving end of the brunt, will be coming out as more seasoned and indomitable players in the long run.  

FAQ

Who is the Most Successful Woman Entrepreneur in India?

Vandana Luthra, the founder of VLCC is said to be one of the most successful woman entrepreneurs in India.

Who is the First Woman Entrepreneur in India?

Kalpana Saroj is said to be the first woman entrepreneur in India. She is the Chairperson of Kamani Tubes.

Who is the Youngest Female Entrepreneur in India?

Aditi Gupta, the founder of Menstrupedia is one of the youngest female entrepreneurs in India.

How many unicorns in India have Women Entrepreneurs?

Currently, around 13 unicorns in India have women entrepreneurs leading them.

Which Indian startup achieved its unicorn status in 2021 and is led by a woman?

OfBusiness is a startup that joined the unicorn club in 2021 and is led by a woman.