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Startups in healthcare and life sciences second highest in board representation to women
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Gireesh Babu, New Delhi
December 18 , 2024
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Healthcare and life sciences sector start-ups are the second highest among the industries in the country where women have representation in the board of directors, according to data from the Central government. The sector has seen the number of startups with at least one woman director, growing more than two fold in five years till 2023.
The highest number of startups in the country with at least one woman director is in IT services with 1,802 entities in the year 2023, followed by health and life sciences where 1,762 entities have at least one woman director, says data from the ministry of commerce and industry. These sectors are followed by agriculture (1,103 start ups), food and beverages (1,085), and construction (1,011).
The startups with at least one woman director in the sector is higher than the number of such entities in human resources (467), fashion (418), media and entertainment (245), AI (234), advertising (143), design (91), events (77), among others.
In healthcare and life sciences, the startups with at least one woman director have seen a growth from 573 entities in the year 2019, to 1,762 in 2023. The growth was almost 27 per cent from 1,388 start ups reported in 2022. The year 2020 reported 684 startup entities and 2021 reported 1018 entities having at least one woman director in the sector.
Union minister of state in the ministry of commerce and industry, Jitin Prasada, responding to a question in the Lok Sabha in the current Parliament session, said that as on October 31, 2024, a total of 1,52,139 entities have been recognised as startups, of which, 73,151 startups have at least one-woman director.
"To strengthen the ecosystem for women-led startups, the government is implementing certain specific schemes/ programmes under the Startup India initiative which are facilitating women-led startups to access finance, technology, and market opportunities," said the Minister.
The government has implemented various programmes to strengthen the ecosystem for women-led startups and ensure their sustainability. In order to promote flow of both equity and debt to women-led startups, 10% of the fund in the Fund of Funds for Startups Scheme operated by Small Industries Development Bank of India (SIDBI) is reserved for women-led startups.
Alternative Investment Funds (AIFs) led by women are eligible to be considered for a higher level of management fee (0.1% per annum). The same benefit is also extended to AIFs which are focused on women led startups.
Women Capacity Development Programme (WING) is a unique Capacity Development Program for women-led startups, to identify and support both aspiring and established women entrepreneurs in their startup journeys, said the Minister.
A Virtual Incubation Programme for Women Entrepreneurs was conducted in collaboration with Zone Startups to support women-led tech startups with pro-bono acceleration support.
A webpage dedicated to women entrepreneurs has been designed on the Startup India portal. The page includes various policy measures for women entrepreneurs by both Central and State Governments.
With a vision to inspire a greater number of women across all regions in India to become entrepreneurs, the SuperStree video podcast series has been launched on women in the Indian Startup Ecosystem. The podcast spreads awareness related to innovations from women and to further strengthen women entrepreneurship in the country.
Besides, state workshops for women entrepreneurs were held across States to build the capacity of aspiring and existing women entrepreneurs. The workshops focused on government scheme awareness, mock pitching, and finance-related training, averred the Minister.
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