Nearly half the startups in India have at least one woman director

New Delhi: Nearly half of the over 1.57 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) has at least one woman director, official data showed on Wednesday.

As on December 25, 2024, the total number of DPIIT-recognised startups stood at 157,066. Out of these, more than 73,000 startups have at least one woman director, “showcasing the crucial role women play in driving innovation and economic growth,” the Ministry of Commerce and Industry noted in a report.  

“The entrepreneurial spirit in India has undergone a paradigm shift in the last decade. Cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have become epicenters of innovation," it said.

Startup India initiative was launched in 2016. The government provides several benefits and financial support to startups, which are recognised by the DPIIT, which is the nodal for the Startup India initiative.

Startups registered under the scheme enjoy tax exemptions for three consecutive financial years. The government has put in place simplified compliance, self-certification, and single-window clearances to reduce bureaucratic hurdles.

Fund of funds for startups have been set up to provide funding support.  Under this initiative Rs 10,000 crore has been allocated to boost early-stage funding for startups.

The widespread availability of affordable internet, coupled with a young and dynamic workforce, has fueled the growth of startups in diverse sectors, including fintech, edtech, health-tech, and e-commerce, the ministry noted in the report.

According to ‘Indian Startup Ecosystem Report’ by Startup India, India’s startups have leveraged emerging technologies such as artificial intelligence (AI), blockchain, and IoT (internet of things) to solve local and global problems. This culture of innovation, supported by incubators, accelerators, and robust mentoring networks, has fostered a unique ecosystem that bridges grassroots challenges with cutting-edge solutions.

Women representation in the top management of India Inc has been quite low despite regulatory provisions regarding appointment of women directors. The Companies Act, 2013 mandates listed firms to have at least one woman on their board. The proportion of women in the boards of listed companies is less than 20% in India against the global average of around 33%.