Shocking news gripped the entrepreneurial world as the Reserve Bank of India’s Innovation Hub (RBIH) peeled back the curtain on a harsh truth: a mere 3% of women entrepreneurs in tier 2 and tier 3 cities managed to secure external funding. This startling revelation, unveiled in a white paper titled ‘At The Helm: Women Entrepreneurs Transforming Middle India,’ underscored the profound challenges faced by women in accessing capital.
At a collaborative event with mysaltapp and the FICCI Ladies Organisation, Innovation Hub CEO Rajesh Bansal delivered a sobering message. He laid bare the systemic barriers hindering women’s access to funding, igniting a conversation about gender disparity in entrepreneurial finance. Bansal’s words echoed with urgency, highlighting the imperative to break down barriers and empower women in entrepreneurship and fintech.
But the story doesn’t end there. The white paper painted a broader picture of adversity, revealing that only around 20% of India’s MSMEs are women-led, with the majority operating as sole proprietorships. The burden of familial responsibilities further compounded the challenges, creating a formidable barrier to women’s entrepreneurial aspirations.
Yet, amidst the bleak landscape, voices of resilience emerged. Panel discussions at the event served as a beacon of hope, as industry luminaries explored pathways to address the gender funding gap. From examining access to capital to delving into data disparities, these discussions paved the way for a more inclusive ecosystem for women entrepreneurs.
As the echoes of this revelation reverberate, it sparks a call to action. Will this stark reality serve as a catalyst for transformative change, ushering in a new era of equity and opportunity for women in entrepreneurship? Only time will tell as the journey towards gender parity in entrepreneurial finance unfolds.
